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Rand recovers, market remains bearish
March 8, 2013--The rand recovered slightly at midday on Friday but remained under pressure generally as the market awaited any further news on domestic labour woes.
On Thursday the local currency fell to its weakest level against the dollar in about four years‚ losing as much as 0.7% to R9.18/$ before recovering some of its losses to close at R9.1386/$.
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Source: FIN24
Nigeria: Stock Exchange, Dangote and Great Expectations
March 8, 2013--With the report that the NSE All share index returned 35.45 per cent in 2012, trends are looking up in the stock market and it is not unconnected with the activities of foreign portfolio investors and the introduction of market making.
In an article captioned "Essential Strategies for Capital Market Growth" published in the Sun newspaper of August 8, 2011 and also in Businessday, same month, this writer wrote among other things that "world wide market makers play a very important role in both the equity and bond markets.
They stabilise the market by standing ready to intervene at moments of scarcity or excess supply of securities. It is naïve, unrealistic and detrimental to investors to operate an automated stock market without the active participation of market makers".
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Source: AllAfrica.com
Africa: The Rise of Africa's Savers -Pension Funds Key Drivers of Growth
March 8, 2013--The rapid increase in the number and size of African pension funds arguably matters more than any other single trend in the continent's economic development.
The pace at which pension funds have grown is staggering. According to analyst reports, the top six countries' pension funds alone are predicted to grow total assets under management to over $600 billion by the end of the decade (from $200 billion today). They are on pace to grow to over $7 trillion by 2050. Over the next 10 years, Africa's savers - more than its consumers - will define the nature of the continent's growth. But there are as many challenges as there are opportunities in the changing institutional investment landscape.
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Source: AllAfrica.com
JSE flat, gold counters rally
March 7, 2013--The JSE was flat on Thursday morning, with gold counters making a big comeback, albeit off a low base, as the sector has been under a fair bit of pressure for some time.
Platinums added value‚ while industrials weakened slightly as investors keenly await today’s European Central Bank interest rate decision and any hints of further monetary easing.
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Source: FIN24
JSE follows world markets higher
March 6, 2013--The JSE opened the Wednesday session in positive territory, amid a global risk-on environment, with retailers leading the upside after recent losses and only gold counters pulling on the downside.
At 9:37am the JSE was 0.18% firmer at 40‚618.57 points. General retailers added 0.59% while gold counters gave back 0.92%.
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Source: FIN24
Bonds firm, eyeing rand
March 6, 2013--The South African bond market was firm in midday trade on Wednesday, but dealers said the next leg of the rally depended on a stronger rand.
“We had some overnight foreign buy orders to fill this morning‚ but the market has traded sideways since the early morning move. Now we wait to see if the rand can go back below R9 per US dollar‚” a local bond trader said.
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Source: FIN24
JSE stronger as investors bargain hunt
March 5, 2013--The JSE was stronger at midday on Tuesday with all of the main indices in the black after being hard hit on Monday.
Gold was the exception‚ with the sector giving up 0.66% at midday.
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Source: FIN24
Bonds firm after auction
March 5, 2013--The South African bond market was firmer in midday trade on Tuesday after a well-received auction.
Dealers said the new producer price index (PPI) had no effect as it was the first in the new series.
“We had a good auction and that changed sentiment in the market‚ even if the rand is off its best level‚” a local bond trader said.
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Source: FIN24
SA mining policies dent image-report
March 5, 2013--A survey has revealed that uncertainty about South Africa's mining policies is hurting the country's image and ranking as a mining investment destination, Business Day reported on Tuesday.
In the survey, which was conducted by the Canada-based Fraser Institute, South Africa scored lower than last year in terms of its policy and mineral potential, the newspaper reported.
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Source: FIN24
JSE down on global sentiment
March 4, 2013--The JSE lost further value on Monday following global markets lower after China introduced new measures to curb property prices, which will have a negative affect on Chinese growth prospects.
This led to lower commodity prices worldwide‚ which weighed on the local bourse.
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Source: FIN24