Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Bonds firm despite bad switch auction
May 9, 2013--The South African bond market was firm in midday trade on Thursday despite a disappointing switch auction earlier.
The National Treasury offered to switch up to R5bn R201 bonds for R186 bonds on a cash for cash basis‚ but received bids worth only R1.12bn and actually switched only R620m.
view more
Source: FIN24
Stronger gold, platinum prices buoy JSE
May 8, 2013--The JSE closed significantly stronger on Wednesday on higher gold and platinum prices, while gains in large-cap industrials pushed the all share index to its highest level in more than six weeks.
“This morning we took direction from the Chinese trade data which came out stronger than expected which lent significant impetus to the resource sector‚” said Mohammed Nalla‚ head of strategic research for global markets at Nedbank Capital.
view more
Source: FIN24
Rand on back foot, bonds weaker
May 8, 2013--The rand edged lower against the dollar on Wednesday as investors continued to price in the possibility of an interest rate cut this year.
The rand was at R9.0340/$ at 08:31, down slightly from its close in New York on Tuesday.
view more
Source: FIN24
Boom Time for African Bonds
May 8, 2013--"Risk premia across the world are getting repriced," says Larry Seruma, chief investment officer of Nile Capital Management, which invests in Africa.
"You have too much money searching for yield, and as safe assets become scarce in the developed world the money has ultimately started to flow to Africa."
.
view more
Source: Moneywatchafrica.com
Foreign Investors Appetite for Nigerian Bonds Grows
May 7, 2013--Nigeria and some other African countries are expected to sell debt instruments at about $7 billion this year, higher than the combined amount sold in the past five years.
With the International Monetary Fund (IMF) forecasting growth in sub-Saharan Africa to outpace all regions except emerging Asia this year, Nigeria, Kenya and six other countries in the continent have either sold or are planning to offer record amounts of bonds overseas.
view more
Source: This Day Live
JSE flat on absence of data
May 7, 2013--The JSE's three-day rally paused on Tuesday amid a lack of fresh catalysts, while the selloff in African Bank Investments shares extended into its third straight session.
At 12:26‚ the JSE All Share [JSE:J203] index was flat (0.08%) at 39 860.74 points‚ while the Top 40 - (Tradeable) [JSE:J200] blue-chip index edged up 0.11%. Banks and platinum stocks lifted 0.70% and 0.51% respectively.
The local bourse has gained 2.88% this month.
view more
Source: FIN24
Bonds firm after strong auction
May 7, 2013--The South African bond market was firm in midday trade on Tuesday after the weekly bond auction at 11:00.
The National Treasury allotted R800m of R2023 bonds at a clearing yield of 6.085%‚ R800m of R209 bonds at a clearing yield of 8.530% and R750m of R214 bonds at a clearing yield of 7.680%.
Bids received amounted to R6.445bn‚ R5.385bn and R1.265bn respectively.
view more
Source: FIN24
Resources buoy JSE‚ banks weigh
May 6, 2013--The JSE all share index rose on Monday‚ led by resources and gold counters.
The gains continued from Friday on the momentum of US employers adding more jobs in April than expected‚ boosting global market sentiment and underpinning commodity counters.
view more
Source: FIN24
Bonds softer on weaker rand
May 6, 2013--South African bonds were softer at noon on Monday due to a softer rand, which weakened on importer demand for dollars.
“The market is softer on the weakening rand as well as follow through after the US payroll number came out better than expected on Friday. These figures led to a selloff in US Treasuries as the better employment numbers reduced demand for safe-haven investments such as bonds. It is a very quiet trading day today because of the bank holiday in London‚” a local trader said.
view more
Source: FIN24
U.S. Foreign Investment in Nigeria Increases From U.S.$5.2 Billion to U.S.$8 Billion-Adefuye
May 3, 2013--The U.S. Foreign Direct Investment flow into Nigeria has increased from $5.2 billion in 2000 to $8 billion in 2012.
The Nigeria Ambassador to the U.S., Ade Adefuye made this known during a presentation on investment promotion strategies at the regional Seminar for Heads of Missions in the Americas held in New York.
According to him, the country has also witnessed a diversification of investments from the oil and gas sector to other key non oil sectors. He identified the sectors as Power, Energy, Agriculture, Hospitality, Housing, Health Care, among others.
view more
Source: allAfrica.com
