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JSE unfazed by Mandela's death
December 6, 2013--South African stocks rose for the third straight day on Friday, largely unfazed by the death of Nelson Mandela.
Mandela, a symbol of racial reconciliation and political compromise, died at 95 late on Thursday from a recurring lung illness, worrying some that simmering social tensions may threaten Africa's largest economy.
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Source: FIN24
Rand recoups losses, ends firmer
December 6, 2013--South Africa's rand ended the week firmer on Friday, bouncing back from oversold levels that saw the currency fall to a 4-1/2 year low after upbeat US jobs data.
Trading in South Africa paused for five minutes of silence observed for the passing of revered former president Nelson Mandela.
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Source: FIN24
Rand breaks through R10.50/$
December 5, 2013--The rand fell to its weakest point in over 4-1/2 years on Thursday after it broke through key technical levels as offshore investors dumped local debt and shares.
The rand dropped over 1.1% to R10.5395/$, its weakest since March 2009.
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Source: FIN24
SA stocks steady
December 4, 2013--South African stocks ended little changed on Wednesday as investors bought shares of companies such as brewer SABMiller but sold mining stocks after a fall in commodity prices.
Shares of mining firms such as Gold Fields fell after the bullion price hit a 5-month low as investors awaited U.S. economic data later in the week that could increase speculation the Federal Reserve will soon exit its asset purchase scheme.
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Source: FIN24
South Africa: Economic Growth "Disappointingly Low" in Third Quarter
December 3, 2013-The improvement in global economic activity achieved in the second quarter of 2013 was broadly sustained in the third quarter, with real growth easing slightly on account of a moderation in the advanced economies. Growth in the emerging economies remained fairly pedestrian by past standards but inched higher, primarily driven by improved growth in China.
The recovery remained uneven and fragile, with macroeconomic policies in key economies continuing to support economic activity. In September 2013 the United States (US) Federal Reserve surprised markets by postponing the tapering of its quantitative easing programme, mindful of the uncertainties arising from the deadlock in US fiscal policy and the need to reinforce further the traction in the economic recovery.
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Source: AllAfrica.com
SA stocks slide 1.7%
December 3, 2013--South African stocks slid 1.7% on Tuesday, with AngloGold Ashanti and other index heavyweights hit by a global market sell-off on concerns the US Federal Reserve may start cutting back its stimulus programme.
Shares of drugmaker Adcock Ingram were little changed at R70.01. South African firm Bidvest has asked a high court to stop a $1.2bn (about R12.6bn) takeover bid for Adcock by a Chilean rival, alleging the planned financing of the offer is against the law.
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Source: FIN24
SA stocks close lower
December 2, 2013--South African stocks edged lower on Monday, as investors sold off some recent big gainers, such as Mondi Plc, that they deemed too expensive after this year's record run.
Shares of Adcock Ingram crept up 0.5% to R70.41 after industrial conglomerate Bidvest offered R70 a share in a bid to increase its stake in the drugmaker to a little over a third.
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Source: FIN24
Rand gains, but deficit fears linger
December 2, 2013--The rand firmed within a recent range against the dollar in early Monday trade, boosted by encouraging PMI data out of China, South Africa's leading trade partner.
However the currency was trading within levels set on Friday, with rand bulls hesitant ahead of key domestic and offshore data that could weigh this week.
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Source: FIN24
Rand steady ahead of trade data
November 29, 2013--The rand was steady against the dollar on Friday after hitting a two-week low in the previous session, and it is likely to take its cue from the latest trade figures due later.
The rand was at R10.1855/$ at 06:43 GMT, little changed from Thursday's New York close.
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Source: FIN24
Safeguarding investments -custody banks spur growth of African capital markets
November 28, 2013--Fast-rising inflows of investment capital to the African markets are spurring an increase in the banks offering custody services.
But global players are held back by differences in infrastructure and legal structure in the different markets and the need to reach economies of scale in a low-margin business. Custodians are responsible for safe-keeping assets. For instance, if a global fund manager wants to invest in different African markets, it might appoint a bank to keep its local holdings of equities or bonds registered in the name of the bank's local nominee company and to ensure that all is correctly registered and administered including purchases and sales, dividends, voting rights and other actions. They are essential to the progress of institutional investors into Africa.
Original publication date-November 15, 2013
Source: Africancapitalnews.com