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Nigerians Look to Traditional Gods for Economic Salve
August 20, 2016--Wearing pristine white gowns and cowry shells, red feathers in their hair, a group of Nigerian priestesses sang as they slaughtered chickens for the river goddess, asking for good fortune in these turbulent times.
Thousands of Nigerians came out to Osogbo, a three-hour drive from Lagos, on Friday to celebrate the river goddess Osun and put their hardships behind them as people turn to traditional gods for hope in the face of a likely recession and with no end in sight to the country's economic woes.
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Source: allAfrica.com
Rand, stocks weaker after hawkish Fed comments
August 19, 2016--The rand has retreated for a third consecutive session to its weakest level in a week against the dollar while stocks also fell, on signs the US could lift rates.
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Source: FIN24
Oil price surge dents rand rally
August 19, 2016--An almost 25% gain in the oil price this week has put a damper on the rand's rally, but the real concern remains the interest rate outlook for the US Federal Reserve.
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Source: FIN24
JSE gains on weak dollar and Standard Bank results
August 18, 2016--The JSE has been a big benefactor as the dollar failed to break out from a low, with financial shares also advancing from Standard Bank''s satisfactory results.
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Source: FIN24
Soft rand helps big JSE rand hedge shares recoup losses
August 17, 2016--Share prices on the JSE have made up initial losses incurred in earlier trade and most of the major indices were higher again, supported by a weaker rand.
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Source: FIN24
DMS-Emerging Markets: Frontier Markets: Nigerian Economy on the Edge
August 16, 2016--It has only been a month since I last wrote about Nigeria possibly slipping into a recession, but I decided to revisit the country because of all the negative news emanating from there.
The question I had asked in my earlier article was whether Nigeria was heading into an economic recession. The question has now been answered, and it is a resounding yes!
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Source: Peter Kohli, CEO, DMS Funds
JSE gets boost from London resources rally
August 16, 2016--A recovery in resources shares in London, where all the major commodity groups have their primary listings, has lifted the local stock exchange.
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Source: FIN24
Rand loses ground despite signs SA will avoid a recession
August 15, 2016--The rand has given back 2% of its gains against the dollar, despite positive production data signalling SA will avoid a technical recession.
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Source: FIN24
Nigeria: Investors Lose N50.9 Billion As Market Capitalisation Drops to N9.358 Trillion
August 15, 2016--Investors in the nation's stock market lost N50.9 billion last week as market capitalisation dropped to N9.358 trillion on Friday from N9.408 trillion it opened during the week.
In the same vein, another stock market gauge, the All Share Index depreciated by 0.65 per cent to close the week under review at 27,246.88 points.
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Source: AllAfrica.com
Rand gains for fourth week as JSE rises
August 12, 2016--The rand has strengthened for a fourth week against the dollar as investors seeking higher yields piled into SA bonds and stocks.
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Source: FIN24
