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JSE edges to record high
October 17, 2013--South Africa's All-Share index booked its highest finish on record on Thursday, rising 0.22% as a spike in the bullion price boosted gold producers such as AngloGold Ashanti and Sibanye Gold.
Shares of Life Healthcare rose 2.4% to R38.52 after the private hospital group said full-year earnings likely rose by as much as 22 %.
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Source: FIN24
Africa turns to sukuk to fund infrastructure
October 16, 2013--Africa is for the first time embracing large-scale Islamic finance as countries seek to tap cash-rich Middle Eastern investors to finance their large infrastructure programmes.
The market for sukuk, or Islamic bonds, received a boost this month after Nigeria became the first major economy in sub-Saharan Africa to use the $100bn a year Islamic market, followed days later by Senegal.
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Source: FT.com
SA stocks up for fifth straight session
October 16, 2013--South African stocks rose for a fifth straight trading session on Wednesday as better-than-expected retail sales numbers gave a boost to chain stores such as Shoprite and Woolworths Holdings.
Sentiment was also buoyed by expectations US politicians would strike a last-minute deal to prevent the world's largest economy from defaulting on its debt.
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Source: FIN24
Rand steady, eyes on US debt talks
October 15, 2013--The rand was largely steady against the dollar early on Tuesday with ongoing US debt ceiling negotiations the main driver of sentiment in the absence of market-moving domestic news.
At 08:43, the rand was trading at R9.9230 to the greenback, barely moved from Monday's close in New York at R9.9150. It was down 0.6% at R13.4581/€.
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Source: FIN24
Stocks soft, but gold producers rise
October 14, 2013--South African shares were little changed on Monday, as investors refrained from taking big bets, hampered by uncertainty over the stand-off to avert a US debt default.
But shares of AngloGold Ashanti and other gold producers gained ground, as nervous investors drove the price of bullion up by about 1 percent.
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Source: FIN24
Rand slightly weaker as US shutdown goes on
October 14, 2013--The rand edged lower against the dollar on Monday, but was still trading within a tight band as talks to end the US government shutdown dragged into a third week.
The rand was at R9.9250/$ at 08:13, down nearly 0.3% from Friday's New York close.
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Source: FIN24
Standard And Poor's Affirms Nigeria's Economy Strong
October 14, 2013--Renowned international credit rating agency, Standard & Poor's, S&P, has affirmed Nigeria's sovereign rating at BB- with a stable outlook.
Nigeria's Minister of Finance and Coordinating Minister of the economy, Dr. Ngozi Okonjo- Iweala, alongside the Governor, Central Bank of Nigeria (CBN,, Mr. Sanusi Lamido Sanusi yesterday disclosed the outcome of the rating assessment at the ongoing IMF/World bank annual meeting in Washington D.C, USA.
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Source: AllAfrica.com
Gold shares lag as SA stocks rise
October 11, 2013--Hopes of a deal to avert a US debt default lifted South African shares on Friday, but gold stocks were dented as bullion's spot price sank to a three-month low.
E-commerce and media firm Naspers was one of the largest advancers. It gained 2.21% to R926.99 after Morgan Stanley raised its price target and rated it "overweight".
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Source: FIN24
Rand nears 3-week high as mine strike ends
October 11, 2013--The rand ticked up to a near three-week high against the dollar on Friday as news that striking workers at Anglo Platinum [JSE:AMS] (Amplats) have returned to work lifted sentiment.
By 08:52 the local currency traded 0.3% firmer on the day at R9.8760/$ after briefly touching R9.8700, the strongest since September 25, according to Reuters data.
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Source: FIN24
SA shares buoyed by hopes of US deal
October 10, 2013--South African shares rose for the first time in five sessions on Thursday, climbing 1.3% as signs of a thaw in Washington's fiscal stalemate cheered sentiment and increased appetite for companies across the board.
Shares of Anglo Platinum jumped 4% to R416 after the president of Amcu said workers had ended an almost two-week strike at the world's largest platinum producer.
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Source: FIN24
