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Rand, bonds slightly firmer

September 25, 2013--The rand was slightly firmer against the dollar on Wednesday but economic data from the United States in the coming days could push it weaker if the numbers come through stronger than expected.

The rand was at R9.8520/$ at 08:37, up 0.2% from its New York close on Tuesday.

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Source: FIN24


Kenya: Market Shows Resilience After Terrorism Attack

September 24, 2013--The Securities Exchange was remarkably resilient in the face of the events at Westgate. The key issue for investors will be whether this is a one time event or whether we have now entered a new and more uncertain normal.

The foreign investor participation levels have averaged close to 50% since we entered a bull market in April 2012 and we will need to be cognisant of this. The shilling retreated to trade around the 87.50 level, which was an optimal outcome given the circumstances. The Nairobi all share eased 0.3208% to close at 124.26. which is a very resilient performance.

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Source: AllAfrica.com


Gold drags stocks trend lower

September 23, 2013--South African stocks inched lower ahead of a bank holiday on Tuesday but gold shares like Harmony were on the back foot as the spot price for bullion swayed on confusion over the outlook of US monetary policy.

Bullion was down as much as 0.9% in earlier trade but recouped losses and turned positive in late trade.

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Source: FIN24


Nigeria: Economy May Face Harsh Times in 2014

September 23, 2013--There are indications that harsh times await Nigeria's economy due to increasing challenges in the sources of income to fund government expenditures in the next fiscal year.

The challenges come to light in the documents submitted by President Goodluck Jonathan to the National Assembly recently.

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Source: AllAfrica.com


Rand gives up Fed gains

September 20, 2013--The rand was steady against the dollar early on Friday, having pared most of the strong gains it and other emerging market currencies made in the aftermath of the US Federal Reserve's decision to maintain monetary stimulus.

At 08:47, the rand was at R9.7010/$, slightly weaker but not far off its close in New York on Thursday.

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Source: FIN24


Nigeria: Investor Interest Lift Stock Market

September 20, 2013--The Nigerian equities market returned to positive territory Thursday after three days of consistent losses helped buy huge buy interest in highly discounted stocks.

Stockbrokers had told THISDAY Thursday that stocks Oando Plc and Access Bank Plc, offers buy opportunity for investors considering the growth potential in both companies. Specifically, shares of Oando have dipped by 21 per cent in the last three days since news broke that jailed former Governor of Delta State, James Ibori, hid his assets in the integrated energy firm. Ibori has allegedly told a Swiss bank in 2004 that he owned about 30 per cent of the company.

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Source: AllAfrica.com


Nigeria sells first Islamic bond

September 19, 2013--Nigeria's Osun State has begun offering the country's first Islamic bond, taking a major step towards developing an Islamic finance industry in Africa's most populous nation, bankers said on Thursday.

The issue makes Nigeria the first big economy in sub-Saharan Africa to market a sukuk, although Gambia has been selling small amounts of Islamic bonds for several years.

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Source: FIN24


JSE hits new record on Fed euphoria

September 19, 2013--South African stocks surged to new record highs on Thursday in line with global peers after the U.S. Federal Reserve stunned markets by delaying a pull-back in its stimulus programme.

Gold producers such as AngloGold Ashanti led the local charge as bullion's price leapt over 4% on the Fed move, seen as a positive for the precious metal as its status as an inflation hedge is enhanced by the flow of easy money.

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Source: FIN24


Rand races on Fed stimulus move

September 19, 2013--The rand is trading near four-month highs against the dollar,

buoyed by an unexpected US Federal Reserve decision to keep its asset-buying programme intact.

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Source: FIN24


Rand holds steady ahead of inflation data

September 18, 2013--The rand traded sideways against the dollar early on Wednesday with investors bracing for potentially poor inflation data and the US Federal Reserve's decision on quantitative easing.

At 08:37, the rand was at R9.8045/$, not far off its close in the New York market on Tuesday.

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Source: FIN24


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Middle East ETP News


April 23, 2025 Growth in the Middle East and North Africa Forecast to Moderately Accelerate in 2025 Amidst Uncertainty
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