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Rand slightly up but strikes limit gains
October 4, 2013--The rand firmed slightly against the dollar on Friday although worries about domestic labour unrest and a wide current account gap will keep gains in check, despite global pressure on the greenback as the US government remains in shutdown.
Government bonds also edged higher in early trade, with yields dipping 3.5 basis points to 7.98% for the benchmark and 2 basis points to 6.075% for the shorter-dated 2015 issue.
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Source: FIN24
SA stocks flat but Abil jumps
October 3, 2013--South African stocks ended little-changed on Thursday as a recovery in shares of Shoprite was counterbalanced by a decline in bullion producers such as AngloGold Ashanti after a drop in gold.
Shares of African Bank Investment rose more than 5% to R19.40 after the mass-market lender said it agreed to pay a regulatory fine of R20m for reckless lending, well below what investors had expected.
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Source: FIN24
Rand slips vs softer dollar
October 3, 2013--The rand slipped against the dollar on Thursday despite the unresolved budget impasse in the United States that has kept the greenback on the ropes.
The rand was at R10.0100/$ at 08:37, down 0.2% from its close in New York on Wednesday.
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Source: FIN24
South Africa's JSE again beats the world on regulation-how they do it
October 2, 2013--South Africa's Johannesburg Stock Exchange (www.jse.co.za) is the world's best-regulated stock exchange for the fourth year running. The 2013-14 Global Competitiveness Report by the World Economic Forum (WEF) ranks South Africa first out of 148 countries for regulation of securities exchanges. South Africa's financial market development ranking remains impressive at third in the world.
This is only one of high scoring factors in the report which highlight the attractiveness of the JSE and its good relationship with the regulator, the Financial Services Board.
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Source: African Capital News
Rand holds steady vs dollar
October 2, 2013--The rand was steady against the dollar on Wednesday after failing to take advantage of a struggling greenback, which has been on the back foot following the first partial US government shutdown in 17 years.
The rand was at R10.1450/$ at 08:04, barely changed
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Source: FIN24
IMF South Africa: 2013 Article IV Consultation
October 1, 2013--Summary: South Africa has made impressive strides in economic development over the past two decades. But in recent years, lower growth has exacerbated high unemployment, inequality, and vulnerabilities.
Although weak trading partner growth contributed, domestic factors were an important reason why South Africa’s growth has been below that of other emerging markets. Large current account and fiscal deficits, so far easily financed by global liquidity, have raised vulnerabilities.
view the IMF South Africa: 2013 Article IV Consultation report
Source: IMF
Nigeria: Stock Market Sustains Positive Run On Renewed Optimism
September 30, 2013--Investors in the Nigerian equities market smiled home again last week as the market recovered from the poor start at the beginning of the week to close on a stellar note.
The strong performance recorded in the last three trading days of the week was fuelled by renewed optimism.
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Source: AllAfricaNews.com
SA stocks down, track global fall
September 30, 2013-- South African stocks fell on Monday as investors cashed in on profits while worries about a looming shutdown of the United States government rattled investors globally.
A fall in the gold price also weighed on bullion shares such as Sibanye Gold and Gold Fields.
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Source: FIN24
Rand weakens, trade data eyed
September 30, 2013--The rand weakened against the dollar on Monday and weaker-than-expected trade data and the lack of a resolution to the debt ceiling impasse in the United States could put it under further pressure.
The rand was at R10.1450/$ 08:51, down 0.7% from its close in New York on Friday.
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Source: FIN24
Absa Capital wins regulatory approval for South African palladium ETF
September 29, 2013--South Africa's Absa Capital has received regulatory approval for its planned Johannesburg-listed palladium exchange-traded fund and hopes to launch the product by the end of the year, a spokesman for Absa said on Sunday.
The fund will be backed exclusively by palladium sourced in South Africa, Absa's head of investments Vladimir Nedeljkovic said on Sunday on the sidelines of the London Bullion Market Association's annual conference
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Source: Reuters