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South Africa: Middle East 'Looking to Invest in Africa'
May 2, 2013--South Africa and the rest of sub-Saharan Africa present significant potential for business investment by companies in the Middle East, according to a report released by the Economist Intelligence Unit in Dubai on Tuesday.
The findings were announced by the Dubai Chamber of Commerce and Industry as part of the Africa Global Business Forum 2013, hosted in Dubai on 1 and 2 May.
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Source: allAfrica.com
Industrials, gold shares underpin JSE
May 2, 2013--Industrial and gold shares on the JSE were in demand on Thursday, helping the broader market to a positive start to the new month after the all share index lost in excess of 2% in April.
At 12:39‚ the JSE All Share [JSE:J203] index was up 0.72% to 39 014.51 points‚ with the Top 40 - (Tradeable) [JSE:J200] blue-chip index gaining 0.71%. Industrial and gold stocks rallied 1.36% and 1.80% respectively. Platinum stocks‚ however‚ fell 1.08%.
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Source: FIN24
Rand eases on fall in commodities
May 2, 2013--The rand fell against the dollar on Thursday on softening precious metal prices, erasing modest gains made earlier in the week.
The rand was at R9.0425/$ at 08:32, 0.8% weaker than its close in New York on Tuesday. The market was closed on Wednesday for a public holiday.
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Source: FIN24
Resource pounding sends JSE lower
April 30, 2013--The JSE closed on the back foot with resource counters taking a pounding as investors sat on the
sidelines ahead of a US Federal Reserve policy statement.
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Source: FIN24
Bonds at record yields after auction
April 30, 2013--Government bonds advanced at noon on Tuesday, pushing the benchmark R186 bond to a record low level after a good weekly government bond auction at 11:00 this morning, with primary dealers the main buyers.
The South African Treasury on Tuesday allotted R800bn of R213 bonds at a clearing yield of 7.260%‚ R1bn of R209 bonds at a clearing yield of 7.520% and R550m of R2048 bonds at a clearing yield of 7.800%
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Source: FIN24
Gold stocks send JSE lower
April 29, 2013--Gold shares posted the biggest gains on Monday, leaving the broader JSE slightly softer at noon after a positive start to the session.
At 12:37‚ the JSE All Share [JSE:J203] index was down 0.17% to 39 017.36 points‚ with the Top 40 - (Tradeable) [JSE:J200] blue-chip index slipping 0.21% to 34 355.04 points. The gold index slid 2‚ despite gold spot edging up above $1 470 per ounce.
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Source: FIN24
JSE ends softer as miners weigh
April 26, 2013--South African equities closed lower on Friday as losses in mining stocks offset gains in the retail and financial sectors.
The gold index was the biggest loser on the day after good recent gains over the last couple of days.
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Source: FIN24
Bonds soften on weaker rand
April 26, 2013--South African bonds were slightly weaker in midday trade on Friday following the weekly inflation-linked bond (ILB) auction at 11:00.
“It looks like bonds were weaker on the back of a weaker rand this morning‚” a local trader said. “We also gather that there might have been an offshore player that was offloading stock this morning and that would have also affected the yield.”
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Source: FIN24
Gold miners continue recovery
April 25, 2013--The JSE closed up on Thursday as gold shares soared on a stronger bullion price.
At 17:00‚ the All Share [JSE:J203] index closed 0.89% higher at 39 128.87 points and the Top 40 - (Tradeable) [JSE:J200] index was 0.86% firmer.
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Source: FIN24
Stronger rand waits for offshore cues
April 25, 2013--The rand has been slightly stronger against the dollar as the week's upward
trend continued.
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Source: FIN24