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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
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
