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SA stocks edge higher
December 19, 2013--South African stocks ended higher on Thursday in line with major global markets after a modest stimulus cut by the US central bank, but faltering commodity prices hit mining shares.
The US Federal Reserve ended months of market speculation by deciding to cut its monthly bond purchases by $10bn to $75bn on Wednesday, and sought to temper the move by sticking to rock-bottom interest rates.
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Source: FIN24
Rand weaker vs dollar
December 19, 2013--The rand fell over 1% on Thursday against a dollar bolstered by the US Federal Reserve's decision to start paring back its bond-buying in January.
At 15:46 GMT, the rand was down 0.63% at R10.4200/4, coming back from a session low of R10.4400/$.
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Source: FIN24
SA stocks tick up ahead of Fed talks
December 18, 2013--South African stocks edged higher in sluggish trade on Wednesday, as global investors awaited the outcome of a US Federal Reserve policy meeting that could see the world's top economy start to scale back its massive stimulus programme.
Shares of Kumba Iron Ore extended gains, adding 1.7% to R430.03 a day after the company said it expects full-year earnings to be at least 20% higher, on the back of firmer prices. Shares of Kumba surged more than 7% in the previous session.
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Source: FIN24
Rand softer as jumpy markets await Fed move
December 18, 2013--The rand was softer against the dollar in nervous trading, as markets awaited the outcome of a US Federal Reserve meeting that could mark the start of tapering.
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Source: FIN24
IMF Working paper- Africa's Rising Exposure to China: How Large Are Spillovers Through Trade?
December 17, 2013-- Summary: The rapid growth in China's domestic investment in recent decades has generated a large appetite for global goods, including from sub-Saharan Africa (SSA). This paper estimates the impact of changes in China's investment growth on SSA's exports. Although rising trading links with China have allowed African countries to diversify their export base across countries, away from advanced economies, they have also led SSA countries to become more susceptible to spillovers from China.
Based on panel data analysis, a 1 percentage point increase (decline) in China's domestic investment growth is associated with an average 0.6 percentage point increase (decline) in SSA countries' export growth. This impact is larger for resource-rich countries, especially oil exporters. These effects could be mitigated, however, to the extent that countries can reorient their exports.
view IMF Working paper- Africa's Rising Exposure to China: How Large Are Spillovers Through Trade?
Source: IMF
SA stocks end higher, Kumba sparkles
December 17, 2013--South African stocks booked a 1.6% gain in their first day of trading after a long weekend, led by Kumba Iron Ore after the mining firm gave an upbeat guidance for its full-year results.
Markets were closed on Monday for a public holiday
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Source: FIN24
Rand seen under pressure ahead of Fed meeting
December 17, 2013--The rand was steady against the dollar on Tuesday after touching two-week highs overnight, but could come under pressure as the market braces for the possible scaling back this week of monthly bond purchases by the US central bank.
By 06:45 GMT the rand was at R10.2840 to the greenback, barely changed from Monday's New York close at R10.2820. Johannesburg traders were back in the market after Monday's Reconciliation Daypublic holiday.
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Source: FIN24
SA stocks slip ahead of long weekend
December 13, 2013--South African stocks edged down on Friday, falling for the fourth straight trading day as concern intensified that the US Federal Reserve could start scaling back its stimulus as early as next week.
Shares of blue chip companies such as Impala Platinum and Assore were among the decliners, a day after the Johannesburg bourse suffered its biggest daily drop in almost six months and ahead of a long weekend that includes a national holiday on Monday.
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Source: FIN24
Rand softer on Fed tapering expectations
December 13, 2013--The rand weakened against the dollar on Friday on increased expectations that the U.S. Federal Reserve may start to reduce its bond-buying programme earlier than previously thought.
Strong U.S. data in the previous session weighed heavily on emerging markets with investors betting that the Fed will announce tapering plans after its December monetary policy meeting next week.
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Source: FIN24
Sub-Sahara on cusp of major economic boom
December 13, 2013--Sub-Saharan Africa could be on the threshold of becoming a major global economy, according to one of the world's most respected economic authorities on the region.
Professor John Sutton, speaking at the Africa Growth Forum on Friday, said that several leading economies in sub-Saharan Africa would become middle-income countries if they sustain their rapid growth rates of the past decade.
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Source: FIN24
