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☆ High-yield corporate bonds can yield over 10% right now. 4 steps to picking the best bond fund, according to a portfolio manager at $1.6 trillion asset manager Franklin Templeton.
▼ + stars: | 2024-03-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Interest in fixed income has increased over the past year after rising bond yields put them back on investors' radars. Related storiesCorporate bonds with high yields are the new darling as investors dig for returns that beat inflation, Klein said. The Bloomberg US Corporate High Yield Index, a measurement of non-investment grade bonds, has a yield to worst (a measure of the lowest possible yield) of 7.65% and a one-year total return of 12.9%. It's unusual for equities to be doing very well and high yield to be doing poorly, he added. But buyers beware: high-yield bonds are also called non-investment grade and junk bonds, and it's for good reason.

Persons: there's, Goldman Sachs, Patrick Klein, Franklin, Klein, Goldman, don't Organizations: Business, Franklin Templeton, Bloomberg

☆ Commercial real estate services firm restructures debt after default as industry's problems widen
▼ + stars: | 2024-02-26 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

The announcement came after S&P Global Ratings lowered Avison's credit on Friday and reported that the company had defaulted on the loan. Weeks earlier, S&P had downgraded the credit rating of Cushman & Wakefield, another major services firm. Higher interest rates have dislocated property values and stifled sales transactions, cutting off a major revenue stream for these firms. Leasing activity across major property types, meanwhile, including office, remains diminished. A push into US real estateAvison sought to rapidly grow in the US over the past decade, including in major commercial real estate markets such as New York City.

Persons: Avison Young, Weeks, Cushman, –, Mark Rose, Avison, Rose, CDPQ, Arbour, MSCI, doesn't, that's Organizations: Cushman & Wakefield, Business, Leasing, Caisse, Federal Reserve Locations: Toronto, Avison, Lane, Stamford , Connecticut, New York City

☆ Ivory Coast Seizes 100 Tons of Cocoa at the Border With Guinea
▼ + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

That compares with 1,000 CFA francs a kilogram in Ivory Coast, where the price is fixed and guaranteed throughout the year. Global cocoa prices have hit record highs in recent months amid worries about a bean deficit this season and with concerns growing for the next. Ivory Coast and neighbouring Ghana, the world's second biggest producer, have said smuggling hampers their effort to meet their yearly production target. "This year, despite the high price in both countries compared to Ivory Coast, there is less leakage... People are really finding it hard to get cocoa out of Ivory Coast," said Abel Gbale, a cocoa buyer in Danane, the country's last major town before the borders with Liberia and Guinea. Amadou Konate, a cocoa buyer based in Man, the main city in western Ivory Coast, said cocoa producers earn nothing from smuggling and the middlemen pocket all the money.

Persons: Ivory Coast's, Yves Brahima Kone, Kone, Abel Gbale, Amadou Konate, Ange Aboa, Anait Miridzhanian, Bate Felix, Frances Kerry Organizations: Ivory, Cocoa Council, CFA, Reuters Locations: ABIDJAN, Guinea, West African, Liberia, Ivory Coast's, Ivory Coast, Sipilou, Ghana, Danane

☆ These bond funds are among the top performers in 2023 – Here’s what investors should do next
▼ + stars: | 2023-11-21 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Risk-taking investors also fared well in high-yield bonds, as the fund category generated a 2023 total return of 6.98% through Friday. Big performers in that category include the Pacific Income Advisors High Yield (MACS) Fund (PIAMX) for investors with managed accounts. The BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) was also among the strongest performers in the fund category. See below for a list of top performing high yield bond funds, according to Morningstar Direct. "I think these historically high yields have offered attractive entry points for high quality," said Murphy.

Persons: It's, Morningstar, it's, Thomas Murphy, Rowe, Murphy Organizations: Treasury, U.S, Morningstar, Morningstar . Bank, SEC, Pacific Income, PIAMX, Morningstar Direct Locations: U.S

☆ Morgan Stanley urges higher quality corporate bonds as 2024 maturities approach
▼ + stars: | 2023-11-20 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 20 (Reuters) - Investment bank Morgan Stanley (MS.N) is recommending that corporate bond investors focus on higher quality investment-grade and high-yield bonds headed into next year, as a wave of maturities poses risk to more junk-rated companies. Morgan Stanley said it suspects the Federal Reserve has neared the end of its rate-hiking cycle, with a soft landing for the economy in the cards next year. As maturities hit next year, 15-20% of this ratings class is likely to see downgrades to CCC, according to Morgan Stanley. Downgrades will not be limited to junk issuers, Morgan Stanley added. On the leveraged loan front, Morgan Stanley said it expects a return in loan issuance next year for M&A and leveraged buyouts, buoyed in part by anticipated Fed rate cuts.

Persons: Brendan McDermid, Morgan Stanley, maturities, Downgrades, Matt Tracy, Stephen Coates Organizations: Wall, REUTERS, Investment, Federal Reserve, BBB, Thomson Locations: New York, U.S

☆ How to lock in bond funds returning up to 12% to beat next year's 'hard-ish' landing, according to a chief strategist with $415 billion in fixed income
▼ + stars: | 2023-11-16 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Last month, bond yields made a comeback and the 10-year Treasury note hit roughly 5%, the highest since 2007. On the other end, bond risk comes from the borrower's ability to pay back their obligation. For investors who want higher income, Bory recommends considering a mutual fund or a commingled fund that provides that diversification. Popular examples of corporate bond funds include the MainStay MacKay High Yield Corporate Bond Fund (MHCAX), Goldman Sachs High Yield Fund (GSHIX), and High Yield Spectrum Fund (PHSIX). Below is a list of Morningstar analysts' favorite high-yield bond funds that have the highest "Gold Medalist" rating.

Persons: George Bory, Bory, MacKay, Goldman Sachs, Allspring, It's, Acct, Rowe Price Organizations: Business, Allspring, Investments, Fed, AAA, BBB, Bond Fund, Fund, Morningstar, PIA Locations: Allspring, US

☆ Options traders betting things could get even worse for two troubled stocks
▼ + stars: | 2023-11-09 | by ( Michael Khouw | ) www.cnbc.com time to read: +5 min

Options volumes and prices have skyrocketed since, but they're not betting the stock will do the same. Some options traders believe that the already hard hit stock could fall further. One of the most active single-stock options so far this week are those of Datadog (DDOG) , which reported earnings on Tuesday. A put seller is willing to get long the underlying stock at the strike price should it fall below that level by expiration. Options premiums in DDOG were high going into earnings, but not high enough as the sharp move higher illustrated.

Persons: they're, Tesla Organizations: Lucid, Inc, EV Locations: Saudi, DDOG

But they are going only as far as the safest bets in the junk category, bonds rated BB and B. Junk bond spreads, the additional interest rate investors demand over safe Treasury bonds, tightened sharply. The spreads of those rated BB and B, or the higher rungs of junk, had tightened 47-52 basis points last week, according to Informa Global Markets data. Four junk bond issuers – Bombardier (BBDb.TO), Venture Global LNG, Smyrna Ready Mix Concrete and InfraBuild Australia - announced bond offerings on Monday. The spotty access to bond markets does not bode well for poorly rated companies.

Persons: Rick Wilking, ”, Edward Marrinan, Peter Knapp, Winnie Cisar, bode, Morgan Stanley, Moody's, Manuel Hayes, Shankar Ramakrishnan, Paritosh Bansal, Andrea Ricci Organizations: REUTERS, Federal, Nikko Securities Americas, Investors, JPMorgan, Informa, CCC, Bombardier, Venture Global LNG, “, London, Insight Investment, Barclays, Thomson Locations: Westminster , Colorado, Smyrna, Australia

☆ A tropical parasite, passed through the bite of a sand fly, is causing skin infections in the US
▼ + stars: | 2023-10-19 | by ( Brenda Goodman | ) edition.cnn.com time to read: +7 min

Sand flies are tiny tan flies — about the quarter of the size of a mosquito — that live in warm, wet, rural and forested areas. These patients all had leishmaniasis skin infections, which start with a small bump that erupts into ulcerous sores days to weeks after a sand fly bite. Like other types of insects that are finding new habitats as the climate warms, sand flies have been expanding their range in recent years. It’s not clear whether sand flies in all these states have transmitted infections to humans, however. When sand flies bite the infected rats, they can pick up the parasite and then pass it to humans.

Persons: you’ve, ”, Mary Kamb, Kamb, ” Kamb, leishmaniasis, Muhammed Abdullah, Luiz Oliveira, “ It’s, ” Oliveira, It’s, Pedro Cecilio, Gideon Wasserberg, Wasserberg, Dr, Sanjay Gupta, there’s, permethrin Organizations: CNN, US Centers for Disease Control, American Society of Tropical Medicine, Hygiene, Anadolu Agency, Getty, CDC, National Institutes of Health, World Health Organization, NIH, University of North, CNN Health, US Food and Drug Administration Locations: Atlanta, United States, Syria, Texas, Oklahoma, U.S, Delaware , New Jersey , Ohio, Maryland, Chicago, Puerto Rico, Virgin, mexicana, University of North Carolina, Greensboro

☆ Capitalize on once-in-a-generation opportunities in the bond market by making these 5 moves now, according to 6 leading fixed income strategists
▼ + stars: | 2023-10-10 | by ( James Faris | ) www.businessinsider.com time to read: +11 min

Yahoo FinanceHowever, six leading fixed income investors are confident that the pain won't last much longer. Michele continued: "I've been doing this since 1981, so I've seen a decade of double-digit bond yields with disinflation. Alex Petrone, the director of fixed income at Rockefeller Asset Management, agreed that it's too soon to write off a recession. Nailing timing helps maximize returns, though fixed income experts said that's difficult because the Fed's policy decisions are unpredictable. Buying Treasuries and municipal coupons on both the long and short ends of the curve are how she recommends playing fixed income.

Persons: Jonathan Mondillo, you've, Bob Michele, Michele, I've, we'll, Federal Reserve —, Robert Robis, Robis, Alex Petrone, it's, Petrone, Mary Daly, David Schiffman, Roger Aliaga, Diaz, Aliaga, Mondillo, Schiffman Organizations: Yahoo Finance, JPMorgan Asset Management, isn't, Federal Reserve, BCA Research, Rockefeller Asset Management, Fed, San Francisco Fed, Aquila Investment Management, Vanguard's Investment, Investment Locations: Scotland, bottoming, Abrdn, Aquila, Treasuries, CCC

[1/2] A general view of Polish shoe retailer CCC shop is pictured, amid the coronavirus disease (COVID-19), in Warsaw, Poland, September 8, 2020. "Let me tell you, there was a time when I couldn't even afford to buy salmon, for example. Buczek has benefited from the fact that PiS has raised her pension as part of hefty welfare spending moves which, opinion surveys show, are easing Poles' concerns over high inflation. The Polish minimum wage, already the highest in central Europe, will rise by nearly a fifth next year. With many houseowners on variable loan rates, Warsaw recently extended a scheme for mortgage repayment holidays into next year.

Persons: Kacper, Jadwiga Buczek, Buczek, PiS, Steffen Dyck, Adam Glapinski, Fitch, Federico Barriga Salazar, Andrzej Kuzniak, Moody's Dyck, Kacper Pempel, Jan Strupczewski, Gergely, Mark John, Sharon Singleton Organizations: REUTERS, Reuters, Justice, European Union, European Commission, National Bank of, Sovereign Risk, Moody's, International Monetary Fund, Civic Coalition, Thomson Locations: Warsaw, Poland, WARSAW, Poland's, Europe, NBP, Brussels

☆ Inside the Civilian Conservation Corps, the New Deal agency that employed 2.5 million men to preserve national forests
▼ + stars: | 2023-09-22 | by ( Elias Chavez | ) www.businessinsider.com time to read: +2 min

Biden launched the American Climate Corps to create jobs and address the climate crisis. The program is similar to the Civilian Conservation Corps, a Depression-era work relief plan by FDR. The CCC employed over 2.5 million men in the nine years it existed and planted 3 billion trees. Modeled after President Franklin D. Roosevelt's 1933 Civilian Climate Corps, Biden's program aims to employ about 20,000 young adults. Take a look back into the camps of the Civilian Conservation Corps.

Persons: Biden, Joe Biden, Franklin D, Roosevelt Organizations: American, Corps, Civilian Conservation Corps, FDR, CCC, Service

☆ Biden launches paid program for 20,000 young people to train for green jobs
▼ + stars: | 2023-09-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

The White House on Wednesday announced a program that will aim to train 20,000 young people for climate-focused jobs related to clean energy, land restoration, forest management and more. In addition to training, the program also intends to be a pipeline for participants to get hired into green jobs. In 2021, he proposed spending $30 billion on a Civilian Climate Corps, which would have had over 300,000 members, as a part of the larger Build Back Better Act bill, the framework of Biden's climate agenda. The Civilian Climate Corps appeared to be a modern version of the New Deal-era Civilian Conservation Corps, a program for unmarried young men to train for jobs in public land and forest improvement. The White House didn't announce how much it was spending on the program.

Persons: Joe Biden, Lucy Evans Organizations: Interpretive, Wednesday, American, Corps, White, Civilian, Civilian Conservation Corps, Democratic Locations: Palo Alto , California

There are signs that the country has now slipped into another era of brutal oppression, even as newly reelected President Emmerson Mnangagwa speaks publicly of “peace, love, harmony and tolerance." “It is the beginning of a new term and we are seeing people being abducted and tortured, people’s homes being burnt down, and lawyers arrested for simply doing their job,” said Doug Coltart, one of Nhende’s lawyers, who was himself arrested. The sight of an elected representative showing injuries from a beating isn't uncommon in Zimbabwe. The CCC and analysts say there is a clear post-election clampdown now that the international observers have left. “It was a sham election, a disputed election, a flawed election.

Persons: Womberaiishe, truncheons, Emmerson Mnangagwa, —, ”, Doug Coltart, Robert Mugabe, Mnangagwa, Tapiwa Muchineripi, Coltart, bode, “, ” Mnangagwa's, Nhende, ” Nhende, Morgan Tsvangirai, Mugabe, Mkwananzi, Siziba, clampdown, Rashweat Mukundu, Nelson Chamisa, Chamisa Organizations: Citizens Coalition, ZANU, CCC, Coltart, Amnesty, Human Rights, PF, Police, AP Locations: HARARE, Zimbabwe, Harare, Africa, Zimbabwean, africa

CCC shares jumped on the news in afterhours trading in New York on Friday, rising 8.6% to $12.50. Founded in 1980, CCC provides software to 35,0000 companies involved in automotive claims and collision repair, including insurance firms, parts suppliers and car manufacturers. Advent, which acquired CCC from private equity firms TPG Inc (TPG.O) and Leonard Green & Partners in 2017, took CCC public through a merger with a blank-check company in 2021 at a $6.5 billion equity valuation. CCC shares have risen 32% year-to-date, more than the broader market but less than the S&P 500 software application index, which has risen 43%. CCC suffered from a drop in car insurance claims during the COVID-19 pandemic but has since seen business gradually recover.

Persons: Morgan Stanley, Leonard Green, Milana Vinn, Diane Craft Organizations: Intelligent Solutions Holdings Inc, Investment, TPG Inc, Leonard Green & Partners, CCC, Thomson Locations: New York

☆ US junk debt issuers use window to extend liabilities but at higher costs, Morgan Stanley report says
▼ + stars: | 2023-09-15 | by ( Matt Tracy | ) www.reuters.com time to read: +2 min

REUTERS/Lee Jae-Won/File Photo Acquire Licensing RightsSept 15 (Reuters) - U.S. junk-rated companies are using a more favorable debt issuance window this year to extend billions of dollars of short-term liabilities. Twelve high-yield issuers have raised $9.6 billion this week, making it the busiest week since November 2021, according to JPMorgan (JPM.N). Ninety of these borrowers used the money raised to refinance, the report noted. Junk bond issuers are now paying roughly 100 to 300 basis points more in coupons on new refinanced debt relative to in-place coupons, according to the report. But the opportunity to refinance is not open to all junk-rated issuers.

Persons: Lee Jae, Morgan Stanley, Matt Tracy, Nick Zieminski Organizations: REUTERS, JPMorgan, CCC, Thomson Locations: Seoul

☆ Zimbabwe: Outrage as Mnangagwa appoints son second-in-command over treasury after disputed polls
▼ + stars: | 2023-09-13 | by ( Nimi Princewill | ) edition.cnn.com time to read: +3 min

CNN —Zimbabwe’s recently re-elected President Emmerson Mnangagwa is facing outrage after appointing his son as deputy minister to the country’s finance ministry. Mnangagwa’s 34-year-old son, David, was among 26 officials sworn in as cabinet ministers Tuesday despite public anger when the list of the nominees was made public on Monday. In his expanded cabinet, Mnangagwa’s son is to deputize finance minister Mthuli Ncube while his nephew, Tongai, would serve as deputy minister in the country’s tourism ministry. Some Zimbabweans have accused Mnangagwa of running the impoverished southern African country as “a family business.”“Slowly Zimbabwe is becoming a family business. The opposition CCC party, which placed second in last month’s disputed polls, also criticized the ministerial list which included a couple, Christopher and Monica Mutsvangwa, both associates of President Mnangagwa, as ministers.

Persons: CNN — Zimbabwe’s, Emmerson Mnangagwa, David, Mnangagwa’s, Mthuli Ncube, Tongai, ”, Mugano, “ It’s, Ncube, ” Mugano, David Mnangagwa, Nick Mangwana, “, ” Mangwana, Christopher, Monica Mutsvangwa, Mnangagwa Organizations: CNN, University of Zimbabwe, Business Administration, Drake University, CCC Locations: Zimbabwe, Harare, doldrums, United States

For investors looking to rake in profit from the recent oil rally, here are some companies that are poised to benefit off of higher crude prices. Higher oil prices could add to inflationary pressure and feed central bankers' decisions on interest rates. Higher correlation between oil prices means good news for some companies, however. The 10 most positively correlated stocks to oil are energy names, which tend to rise when oil prices get a boost. Molson and Monster have slipped 5.6% and 2.2%, respectively, during the current quarter, while PepsiCo is off more than 5%.

Persons: Brent, WTI, Russell, Molson Coors Organizations: West Texas, CNBC, Oil, Diamondback Energy, Devon Energy, APA, Diamondback, Halliburton, Insurance, CCC Intelligent Solutions Holdings, . Beverage, Molson, Monster, PepsiCo, Bank of Canada, Manhattan Associates, Cadence Design Systems, chocolatier Hershey Locations: Saudi Arabia, Russia, Devon, American

☆ Zimbabwe: President Mnangagwa sworn in after disputed polls
▼ + stars: | 2023-09-04 | by ( Nimi Princewill | ) edition.cnn.com time to read: +2 min

CNN —Zimbabwe’s President Emmerson Mnangagwa was sworn in for a second five-year term Monday, a week after securing an absolute majority in a disputed presidential vote. The arrests had followed the release of a report by the Zimbabwe NGO Forum that documented irregularities on polling day, according to Amnesty International. The opposition CCC party told CNN on Monday it will not challenge Mnangagwa’s victory at the courts, because it is unsure of getting justice through the country’s legal system. Mnangagwa took the reins of power for another term in a colorful ceremony attended by thousands of Zimbabweans and regional leaders. Mnangagwa, nicknamed “The Crocodile,” succeeded Mugabe after helping to orchestrate the coup that ousted him.

Persons: CNN —, Emmerson Mnangagwa, Mnangagwa, Nelson Chamisa, ”, Reuters Mnangagwa's, Mkwananzi, Robert Mugabe, “, Mugabe Organizations: CNN, Democratic, Citizens Coalition, Zimbabwe Electoral Commission, European, Zimbabwe NGO Forum, Amnesty International, CCC, Philimon, Reuters Locations: South Africa, Democratic Republic of Congo, Mozambique, Zimbabwe, Philimon Bulawayo, Harare

[1/4] Ostallos Siziba, the Deputy Spokesperson for Zimbabwe's main opposition party The Citizens Coalition for Change (CCC) speaks to media in Harare, August 29, 2023. REUTERS/Philimon Bulawayo Acquire Licensing RightsHARARE, Aug 29 (Reuters) - Zimbabwe's main opposition party on Tuesday called for last week's elections to be re-run, saying the polls were riddled with flaws and calling on other African countries to help mediate in its impasse with the ruling party. The elections commission said Mnangagwa received roughly 53% of the vote against 44% for the CCC's Nelson Chamisa. Christopher Vandome from policy institute Chatham House's Africa programme said he was unsure the opposition would go the legal route at all. Zimbabwe's foreign ministry summoned European ambassadors to Zimbabwe on Monday and told them their mission's report was "full of misrepresentations and allegations".

Persons: Siziba, Emmerson Mnangagwa, Mnangagwa, Nelson Chamisa, Chris Maroleng, Christopher Vandome, Carien du Plessis, Bhargav, Alexander Winning, Sharon Singleton Organizations: Citizens Coalition, REUTERS, Philimon, Rights, Citizens ' Coalition, CCC, PF, ZANU, Good Governance, Southern African, SADC, Thomson Locations: Harare, Philimon Bulawayo, Rights HARARE, Zimbabwe, Good, Chatham, Africa, European

[1/4] Zimbabwe's President Elect Emmerson Mnangagwa speaks to the media at State House in Harare, August 27, 2023. REUTERS/Philimon Bulawayo Acquire Licensing RightsHARARE, Aug 27 (Reuters) - Zimbabwe's re-elected President Emmerson Mnangagwa suggested on Sunday that those people questioning the results of last week's election, which an opposition leader dismissed as a "gigantic fraud", take their case to court. The election commission said on Saturday that Mnangagwa, 80, had won the election with 52.6% of the vote while the opposition Citizens' Coalition for Change (CCC) leader Nelson Chamisa got 44%. Chamisa, speaking on social media platform X, formerly Twitter, said of the election: "It's a blatant and gigantic fraud." It was unclear whether the opposition would use the courts to dispute the election results, as Zimbabwe's judges have historically sided with the governing party.

Persons: Elect Emmerson Mnangagwa, Emmerson Mnangagwa, Nelson Chamisa, Mnangagwa, Robert Mugabe, Christopher Mutswangwa, ”, Munjodzi Mutandiri, Mkwananzi, Nyasha Chingono, Carien du Plessis, Bhargav Acharya, Nick Macfie, Kirsten Donovan Organizations: State House, REUTERS, Philimon, Rights, Citizens ' Coalition, ZANU, Southern, Liaison, Southern African Development Community, Thomson Locations: Harare, Philimon Bulawayo, Rights HARARE

CNN —Zimbabwe’s incumbent President Emmerson Mnangagwa was declared the winner in the country’s presidential elections on Saturday after securing an absolute majority in a tense presidential contest that was marred by delays. “The Zimbabwe Electoral Commission has announced the 2023 presidential election results. Nelson Chamisa, leader of Zimbabwe's main opposition party, the Citizens Coalition for Change (CCC). In that election, in 2018, Mnangagwa won 51% of the total ballots, while Chamisa took 44%. However, Mnangagwa was sworn in after Zimbabwe’s constitutional court upheld his victory.

Persons: CNN —, Emmerson Mnangagwa, Nelson Chamisa, It’s, Zimbabwe's, ”, Robert Mugabe, “, Mugabe, Chamisa, Mnangagwa, I’m, Eldred Masunungure, Chris Mutsvangwa Organizations: CNN, Zimbabwe Electoral Commission, Citizens Coalition, Zanu, KB, Reuters, Amnesty, Zimbabwe NGO Forum, University of Zimbabwe Locations: Zimbabwe, Britain, Chamisa, Harare, wallop

REUTERS/Siphiwe Sibeko Acquire Licensing RightsHARARE, Aug 26 (Reuters) - Zimbabwe's elections commission said late on Saturday that incumbent Emmerson Mnangagwa had won this week's presidential election with roughly 53% of the vote, but the opposition and analysts immediately questioned the result. ZANU-PF supporters started singing and cheering at the results centre after the elections commission said Mnangagwa had won. Mnangagwa also narrowly defeated Chamisa at the last presidential election in 2018. The opposition alleges that election was rigged but the constitutional court upheld the result. While the run-up to the election has been largely free from violence, the police routinely ban opposition rallies and arrest opposition supporters using Zimbabwe's tough public order laws.

Persons: Emmerson Mnangagwa's, Siphiwe, Emmerson Mnangagwa, Mnangagwa, Robert Mugabe, Mnangagwa's, Nelson Chamisa, Chamisa, Nicole Beardsworth, ZEC, Nyasha Chingono, Nelson Banya, Carien du Plessis, Bhargav, Alexander Winning, Daniel Wallis Organizations: REUTERS, Rights, ZANU, Zimbabwe Electoral Commission, Citizens ' Coalition, PF, University of, SADC, Thomson Locations: Shurugwi, Midlands Province of Zimbabwe, Rights HARARE, Zimbabwe, Southern, Witwatersrand, Johannesburg

A tally by state broadcaster ZBC showed ZANU-PF winning 101 parliamentary constituencies and the main opposition party Citizens Coalition for Change (CCC) winning 59, out of a total of 210. The result of the presidential vote has not been announced yet. The ERC later posted on X, formerly known as Twitter, that 16 of its staff together with Zimbabwe Election Support Network members had been released on $200 bail each by a magistrate. Mnangagwa last week told state media that if he got a second term, it would be his last. As in previous elections, the parliamentary results appeared to show ZANU-PF retaining its rural base, while the CCC captured the urban vote.

Persons: Emmerson Mnangagwa's, Nelson Chamisa, Fabio Massimo Castaldo, Castaldo, Nevers Mumba, Patrick Chinamasa, Mnangagwa, Eldred Masunungure, Robert Mugabe, Nelson Banya, Bhargav Acharya, Nellie Peyton, Alexander Winning, Devika Syamnath, Andrew Heavens Organizations: Emmerson Mnangagwa's ZANU, ZBC, ZANU, Coalition, World Bank, International Monetary Fund, REUTERS, Philimon, Rights Police, Zimbabwe Election, Election, Centre, ERC, Zimbabwe Election Support, Southern African Development Community, National Assembly, University of Zimbabwe, PF, CCC, Thomson Locations: EU, HARARE, Harare, Zimbabwe, Philimon Bulawayo, SADC

Police sealed off roads around the election results centre on Friday morning, and members of the public were being stopped for questioning, a Reuters reporter in the capital Harare said. However, results announced so far by the Zimbabwe Electoral Commission showed ZANU-PF winning 38 parliamentary constituencies and the main opposition party Citizens Coalition for Change (CCC) winning 32, out of a total of 210 single-member constituencies. The early results showed ZANU-PF retaining its rural base, while the CCC captured the urban vote, as has been the case in previous elections. In the highest-profile loss yet for the ruling party, the electoral commission said on Friday that Finance Minister Mthuli Ncube had lost his parliamentary contest to a CCC challenger. Mnangagwa took over from longtime strongman Robert Mugabe after a 2017 coup and won a disputed election in 2018.

Persons: Emmerson Mnangagwa's, Nelson Chamisa, Patrick Chinamasa, Mthuli Ncube, PF's Chinamasa, Mnangagwa, Robert Mugabe, Nelson Banya, Bhargav Acharya, Nellie Peyton, Alexander Winning Organizations: REUTERS, Philimon, Rights, Emmerson Mnangagwa's ZANU, World Bank, International Monetary Fund, Police, ZANU, National Assembly, Commission, Coalition, PF, CCC, Thomson Locations: Harare, Zimbabwe, Philimon Bulawayo, Rights HARARE

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