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Rand under pressure

July 5, 2013--The rand held broadly steady against the dollar in early Friday trade although investors remained jittery ahead of US jobs data that should give a clue about the timing of the Federal Reserve's withdrawal of stimulus.

Domestic mining concerns were also hanging over the local currency.

At 08:49, the rand was at R10.0335/$, compared to a close of R10.0260 in New York time on Thursday.

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Source: FIN24


Egypt faces rising financial risk-data

July 5, 2013--Egypt's crumbling public finances may be in even worse shape than previously estimated.
While stock and bond markets have cheered the ouster of unpopular President Mohamed Mursi by the army and Egypt's debt insurance costs have tumbled, data shows that financial risks are about to escalate.

The central bank's net hard currency reserves, which a country needs to pay for imports, are in negative territory if upcoming short-term obligations are included, indicating a looming funding crunch for Egypt unless it quickly accesses external aid.

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Source: FIN24


Africa: Private Equity-Bringing Development Capital to Africa?

July 4, 2013--Africa's private equity industry has been gaining ground. Last year, despite difficult global economic circumstances, deal value reached $1.1bn with East Africa taking the lion's share.

And the sector has raised as much as $3.7bn of capital, in its 2008 peak before the financial crisis, according to data from Private Equity International.


The yield on the bond due in 2026, the market benchmark, edged up one basis point to 7.955%, as did the shorter-dated 2015 paper to 6.135%.

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Source: FIN24


Nigeria sells $1bn bonds, Okonjo-Iweala says

July 3, 2013--The Minister of Finance, Ngozi Okonjo-Iweala, said on Wednesday that Nigeria returned to the capital market after two years of absence and sold $1 billion bond with ease.

Ms. Okonjo-Iweala said this in Abuja while briefing newsmen on the recently concluded road show in Europe and U.S. to float the billion dollar bond to international investors.

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Source: Premium Times


Rand dips on stronger dollar

July 3, 2013--The rand breached the psychologically important 10-to-the-dollar level on Wednesday as a stronger greenback weakened global currencies while market liquidity remained thin.

The rand was at R10.0350/$ at 08:35, nearly 0.5% weaker than its close in New York on Tuesday.

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Source: FIN24


Nigeria: NSE Assures Investors of Market Stability

July 2, 2013--The Nigerian Stock Exchange (NSE) has urged investors not to panic as a result of the perceived downturn in the capital market as the fundamentals remained strong.

The Head of Strategy at the Exchange, Yvonne Emordi stated this during the 2nd Technical Session for Institutional Investors organized by Investment One Financial Services Limited held in Lagos last week.

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Source: AllAfrica.com


JSE treading softly at the start

July 2, 2013--Despite commodity prices having picked up since Monday, the JSE was trading in negative terrain on Tuesday morning.

By early morning the all share index was down 0.11% at 39 890.03 points and the top 40 index down only -0.07%.

The spot price of gold increased by 0.91% to $1 265.10 and that of platinum was at $1 385.50.

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Source: FIN24


Rand, bonds slightly firmer

July 2, 2013--The rand edged up against the dollar on Tuesday, but trading is expected to be cautious ahead of US labour data due later this week and interest rate decisions by major central banks.

The unit was at R9.8960 to the dollar at 0641 GMT, 0.3% firmer than its close in New York on Monday.

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Source: FIN24


Americas


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Asia ETF News


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Global ETP News


April 24, 2025 Deloitte Releases 2025 Financial Services Industry Predictions Report
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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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March 26, 2025 'Renewables are renewing economies', UN chief tells top climate forum

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