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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."
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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.
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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.
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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.
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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.
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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.
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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.
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Source: allAfrica.com
Gold, retailers and banks weigh on JSE
May 3, 2013--The JSE was slightly higher in the early afternoon on Friday, with gold miners shedding value after recent gains, and declines in retailers after a strong rally on Thursday.
Banking counters were also under pressure‚ with only resources providing some support to the local bourse.
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Source: FIN24
Bonds yields drop to another record low
May 3, 2013--South African bond yields hit record lows across the curve on Friday, driven mainly by foreign inflow, as the global search for better yields continues.
At 11:59 the benchmark R186 was trading at 6.550% from 6.620% at Thursday’s close and 6.720% at Tuesday’s close. Wednesday was Worker’s Day and markets were closed.
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Source: FIN24
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
