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Rand steadies after previous low
January 7, 2014--The rand was largely flat against the dollar on Tuesday and should stay within a narrow range for the day, given dearth of market-moving data and news to move it.
At 06:48 GMT the local currency was trading at R10.6500 against the dollar, just 0.05% off of Monday's close in New York. It was 0.12% firmer at R14.4272 to the euro.
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Source: FIN24
Commodity shares pick up on JSE
January 6, 2014--THE JSE started the new year on a strong note strong and notched up a new all-time record in the first week, with major shares increasing sharply on the back of positive economic news from the US.
Markets across the world rallied as it is becoming more evident that the American economy is recovering and fears of the imminent easing of financial stimilus in the US are receding.
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Source: FIN24
Rand nearing five-year low
January 6, 2014--The rand was trading close to a five-year low on Monday as the dollar remained strong, supported by an upbeat outlook on the US economy from outgoing Federal Reserve chairperson Ben Bernanke.
The rand was at R10.6780 to the dollar at 06:18 GMT, down 0.1% from Friday's New York close. It slumped to 10.7% on Thursday, its weakest since December 2008 amid thin holiday trading and a flight from risky assets.
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Source: FIN24
Nigeria: Hopes, Fears for Investors in 2014
January 5, 2013--Viewed from whatever perspective, the year 2013 in the Nigeria capital market may, perhaps, be best described as one of the most successful markets in the world. Relatively so, though.
Despite the massive gain witnessed in the Nigerian stock market during the year 2013, the consensus of most analysts is that the first half of the year 2014 would present a better investors platform, while the second half-year may be bearish.
The major focus in the year 2014 would be the ongoing recapitalisation exercise in the capital market with the effort of the Securities and Exchange Commission (SEC) to introduce new minimum capital requirements for market operators.
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Source: AllAfrica.com
JSE kicks off 2014 with another record
January 3, 2014--South African stocks kicked off 2014 with another record close on Thursday, as investors snapped up precious metal producers such as AngloGold Ashanti and Impala Platinum, betting they had fallen too far last year.
Other companies with significant exposure to overseas markets, such as e-commerce firm Naspers and luxury goods maker Richemont remained in favour, helped by nagging concerns about lacklustre growth.
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Source: FIN24
Nigeria: 2013 - Stock Investors Await Bounteous Harvest
January 1, 2014--Recovery in the Nigerian stock market continued in 2013, with a growth of over 40 percent.
When the Nigerian stock market recorded a growth of 34.5 per cent in 2012, not many investors and operators joined in the celebrations that greeted the positive performance. To some, it was too early to celebrate that the market had fully recovered from the crash it suffered in 2008.
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Source: AllAfrica.com
Rand slips against dollar
December 31, 2013--The rand fell as much as 1.4% against the dollar on Tuesday and was on track for one of the steepest global losses for 2013, after a year in which labour strife weighed on investor sentiment.
The rand was trading at R10.5630/$, down 1.37% from Monday's close at R10.4200/$.
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Source: FIN24
JSE edges towards new high after record 2013
December 31, 2013--The JSE will be open for a half day on Tuesday before closing for the holiday, after stocks edged up nearly 1% on Monday to close near a lifetime high.
Investors snapped up blue chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year.
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Source: FIN24
Dow edges to new record
December 31, 2013--The Dow Jones Industrial Average kicked off a holiday-shortened week on Monday with a new record high, even as the other two indices stalled in sluggish trade.
At the closing bell, the Dow jumped 25.62 (0.16%) to 16,504.03, its fourth record close in the last five sessions
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Source: FIN24
New Pacts Ease Path Toward East African Single Currency
Agreements outline ten-year roadmap toward monetary union
Greater integration should sustain economic growth, boost efficiency
Payments system expected to speed cross-border payments, promote trade
December 30, 2013--Moves toward deeper economic integration among the countries of the East African Community (EAC)-Burundi, Kenya, Rwanda, Tanzania, and Uganda-have gained new impetus from agreements sealed in recent weeks.
The signing of a Monetary Union Protocol by community heads of state in Kampala, Uganda, on November 30 is a milestone outlining a ten-year roadmap toward monetary union. The formal launch of the East African Cross Border Payment System on November 25 is a significant operational step increasing monetary and economic integration.
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Source: IMF
