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Gold, retail firms boost SA stocks
January 14, 2014--South African shares rose on Monday on hopes for healthy banking sector earnings and a pick up in retail numbers while a weak local currency buoyed gold mining stocks such as AngloGold Ashanti.
Weak US employment data released on Friday gave emerging market shares a new lease on life as investors bet the Federal Reserve would stay its hand on the stimulus programme that has encouraged stock punters to consider less developed markets.
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Source: FIN24
JSE investors wise to remain cautious
January 13, 2014--The JSE drifted mostly lower during the past week after its extremely strong start in the first week of the year, and the All-share Index ended Friday nearly 1,500 points lower than the new record high set 10 days ago.
Brokers and commentators blame the weaker share prices on a strengthening currency, which recovered from its five-years lows of a few days ago.
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Source: FIN24
Rand reprieve ends as currency weakens
January 13, 2014--The rand weakened against the dollar on Monday, with negative domestic fundamentals preventing a sustained rally by the rand after a weak US jobs number.
The rand was down nearly 1% at R10.7535/$ at 15:33 GMT, off a R10.6500/$ close in New York on Friday.
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Source: FIN24
Nigeria: SEC Approves IPO of Griffin 30 ETF
January 10, 2014-January 10, 2014--Vetiva Fund Managers Limited has notified the Nigerian Stock Exchange, NSE, that Securities and Exchange Commission, SEC, has granted approval for the Initial Public Offer of Griffin 30 Exchange Traded Fund (VG 30 ETF) which will open to the public for 15 working days in line with SEC Rule 301, commencing Monday, 13th January, 2014 and closing Friday, 31st January, 2014.
If the fund is listed on the NSE, it will become the second Exchange Traded Fund (ETF). An Exchange Traded Fund (ETF) is an investment vehicle that tracks an index, a basket of assets, or a commodity, but trades like regular shares on a stock exchange.
Implats drags JSE to fifth day slide view more
Rand under pressure ahead of US jobs report view more
Rand languishes near five-year lows view more
SA stocks drop on inflated price concerns view more
Rand slightly firmer after reserves data view more
SA stocks fall as China worries weigh view more
Source: AllAfrica.com
January 10, 2014--SA share prices have bucked the global trend to drop for a fifth day running,
as global investors shifted out of emerging markets and into the recuperating West.
Source: FIN24
January 10, 2014--The rand has remained soft after touching a new five-year low against the dollar,
and may come under renewed pressure if US data exceeds expectations.
Source: FIN24
January 9, 2014--South Africa's rand made a modest recovery on Thursday from a fresh five-year low hit overnight but could stumble again if manufacturing data due later in the session disappoints.
The rand was at R10.7400 to the dollar at 06:51 GMT, nearly 0.4%t firmer than Wednesday's close in New York.
Source: FIN24
January 8, 2014--South African stocks ended down for the third straight session on Tuesday, inching lower as Mondi and other star performers of 2013 were hit by concerns their prices are overblown.
Losses were limited as investors shifted into banks such as Standard Bank, which underperformed the market last year.
Source: FIN24
January 8, 2014--The rand was slightly firmer against the dollar on Wednesday, after better than expected foreign exchange reserves data.
The rand was at R10.6250 to the dollar at 07:03 GMT, up 0.2% from Tuesday's New York close.
Source: FIN24
January 7, 2014--South African stocks edged down 0.6 percent on Monday, declining for the second straight session after nagging concerns about a slowdown in China's economy prompted investors to take profit in recent top performers such as Discovery Holdings.
Growth in China's services sector slowed sharply last month to its lowest point since August 2011, a private sector survey showed, adding to signs of slowing momentum in the world's second-largest economy.
Source: FIN24
