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Stocks rise despite record US job losses
May 8, 2020--The rand strengthened against the greenback as it peaked at a session high of R18.30 before it was recorded trading 1.41% firmer at R18.32/$ at 17.00
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Source: FIN24
Local stocks edge higher as optimism remains
May 7, 2020--Still, there was disappointment in terms of economic data following the release of the SACCI Business Confidence index data for April which came in at 77.8, compared to a forecast of 89.2.
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Source: FIN24
Nigeria: SEC Asks Nigerians to Explore Capital Market Investment Options
May 6, 2020--As the Coronavirus pandemic continues to impact businesses and individuals in Nigeria with unquantifiable losses, Nigerians have been urged to look to the capital market as an avenue to create wealth.
The Acting Director General of the Securities and Exchange Commission (SEC), Ms. Mary Uduk, gave the advice on Tuesday in Abuja.
Uduk said the commission was aware of the economic implications of the virus, hence the management has ensured that the capital market remains open for trading.
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Source: allafrica.com
Nigeria: Economy to Contract By 3.4% in 2020-Govt
May 6, 2020--The Federal Government yesterday revised downward its earlier forecast of 2.9% growth for the nation's economy this year, saying rather, the economy will contract by 3.4%.
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Source: allafrica.com
Firmer close in Asia lifts JSE All-Share Index
May 6, 2020--On the currency market, the rand traded softer against the greenback as it slipped to a session low of R18.77/$.
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Source: FIN24
SA economy could shrink by up to 17% in 2020 despite stimulus, warns business alliance
May 6, 2020--South Africa's GDP could shrink by between 10% and 16.7% this year despite stimulus efforts due to a sharp plunge in economic activity, according to Business for South Africa.
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Source: FIN24
Nigeria: Portfolio Investment-Domectic Investors Outperforms Foreign Investors By 10 Percent in March
May 5, 2020--The total value of portfolio investment transactions executed by domestic investors on the Nigerian Stock Exchange, NSE for the month of March 2020 has outperformed transactions executed by Foreign Investors by 10 percent.
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Source: allafrica.com
Zimbabwe: Outrage Over U.S. Dollar Priced COVID-19 Test Kits
May 5, 2020--While all businesses in the formal sector can now reopen under strict health conditions as Zimbabwe moves into level 2 lockdown, many were unable to do so yesterday with the rapid testing of staff being the biggest single problem as private suppliers were demanding US$25 a test kit, payable only in foreign currency.
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Source: allafrica.com
JSE retreats as global markets fret over economic growth
May 4, 2020--Deep losses were recorded across most European benchmarks except the FTSE 100 which managed to trade relatively flat on the day.
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Source: FIN24
South Africa-Government assesses coronavirus damage to economy
May 2, 2020--South Africa’' economy could contract by as much as 16.1% this year, depending on how long it takes to contain the coronavirus pandemic and for the economy to recover to the end of 2020
South Africa's National Treasury expects job losses, tax losses and a contracting economy due to the coronavirus pandemic and the lockdown to halt its spread.
The finance minister will only present an adjustment budget, which accounts for the impact of the pandemic and economic relief measures, in June or July, according to Treasury and tax officials who briefed lawmakers on the potential impact of the virus on Thursday.
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Source: fin24.com
