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Rand holds steady, factory data a boost
September 12, 2013--The rand hovered near four-week highs against the dollar on Thursday, tracking a generally firm tone in emerging markets, while official local data pointed to a recovery in the key manufacturing sector.
The rand traded at R9.8875 against the greenback by 08:55, barely changed from its previous close of R9.8750 and within easy sight of Wednesday's high of R9.8550, a level last seen on August 12.
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Source: FIN24
Harvesting growth: How do PE investors create value?
September 11, 2013--The joint research study by AVCA & EY looks at value creation through exit deals across Africa. This study provides an answer to the question, are there exits in Africa?
Over the last 10 years, Africa's economic output has increased threefold to US$2t, and 6 African countries have been among the 10 fastest-growing economies in the world.
In Africa, however, the PE industry is in a phase of relative infancy. The continent's stock markets, other than the Johannesburg Stock Exchange, are still very small and relatively illiquid, and the intermediary networks remain far from complete across the region.
view the Harvesting growth-How do private equity investors create value? report
Source: AVCA (African Venture Capital Association)
Rand pulls back from rally
September 11, 2013--The rand weakened against the dollar on Wednesday, extending losses prompted by worse-than-expected current account data in the previous session and pulling yields on government debt higher.
The South African Reserve Bank (Ssrb) released poor current account data on Tuesday, showing a widening trade account the economy continued to import more than it exports.
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Source: FIN24
China data boosts JSE
September 10, 2013--The JSE was in positive territory after lunchtime on Tuesday.
The Top 40 Index was up 1.56% at 38 904 points and the All Share Index rose 1.37% to 43 357.
The industrial index climbed the most and was 1.69% at 49 302.
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Source: FIN24
Rand weakens on current account jitters
September 10, 2013--The rand weakened against the dollar early on Tuesday as investors fretted about upcoming current account data for the second quarter.
At 06:46 GMT, the rand was at R9.9850 per dollar, 0.35% weaker than its close in New York on Monday.
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Source: FIN24
Stocks down as banks fall on ex-dividend
September 9, 2013--South African stocks fell slightly on Monday after leading financial shares such as Barclays Africa Group and Standard Bank took a knock from trading ex-dividend, or without the right to the latest dividend payout.
But mining shares such as AngloGold Ashanti [JSE:ANG] and Harmony Gold [JSE:HAR] rose as employees ended a strike in the sector over wages.
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Source: FIN24
Rand retreats, eyes current account data
September 9, 2013--The rand pulled back against the dollar on Monday after strong gains in the previous session and could extend losses this week if the country's current account deficit widens more than expected.
The ever-present threat of strikes will also keep investors wary about the outlook for the economy, which has been beset by often violent wage-related union unrest, with more than 60 people killed in labour strife since last year.
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Source: FIN24
SEC, NSE Tasked on Investor Education
September 9, 2013--The Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have been urged to intensify investor sensitisation and education so as to create necessary atmosphere for the growth and development of the capital market.
The President, PEARL Awards Nigeria, Mr. Tayo Orekoya, who made this call, while speaking on the forthcoming 2013 PEARL Awards in Lagos last week, noted the market had started a steady recovery from the doldrums of previous years and had the potential to once again become the toast of investors.
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Source: This Day Live
Gold, platinum counters weigh on JSE
September 6, 2013--The gold and platinum indices were down 0.29% at 1 368 points and 0.13% at 1 482 points respectively by lunchtime trade on Friday, dragging the all share index down 0.28% at 42 676 points
The Top 40 index was down 0.29% at 38 290 points.
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Source: FIN24
Rand steady vs dollar, gold strike may be over
September 6, 2013--The rand held steady against the dollar early on Friday on hopes of a resolution to a strike in the gold sector, although the currency looked unlikely to make strong gains ahead of US jobs data.
The rand was trading at R10.2200 per dollar at 06:44 GMT, slightly firmer than a R10.2350 close in New York on Thursday.
Market players are waiting to hear whether a revised wage offer in the gold sector, where 80 000 workers have downed tools since Tuesday, could end the strike much sooner than expected.
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Source: FIN24
