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Nigerian Equities Take Lead in New Scramble for Africa
February 11, 2013--The Nigerian equities market is leading African markets posting a return of 63 per cent in United States dollar terms during the last 12 months as foreign investors scrambled to be part of the bumper harvest in frontiers markets.
Reports by Financial Times (FT) of London also indicated that money flowing into Africa-dedicated equity funds last December reached $878.4 million, the biggest monthly inflow in just over two years and four times the amount.
According to FT, hunters of investment exotica are heading to Africa, where some of the world's riskiest markets are enjoying big gains.
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Source: allAfrica.com
JSE tracks Dow slightly softer
February 11, 2013--The JSE experienced a mixed day's trade on Monday moving between marginal gains and losses. The bourse eventually closed in the red, after a softer Dow opening.
At 17:00 the All Share [JSE:J203] index was down 0.15% at 40 832‚67 points‚ with gold and platinums giving back 1.24% and 0.98% respectively. Resources gave up 0.57% on a day that wasn’t kind to mining stocks.
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Source: FIN24
Bonds in limbo, awaiting budget
February 11, 2013--The South African bond market was little moved at noon on Monday despite the softer rand.
"The benchmark R186 was trading one basis point weaker‚ with bond yields relatively unchanged from Friday‚ ignoring the slight weaker rand and awaiting the budget speech‚” said Steve Arnold‚ head of bonds at Investec
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Source: FIN24
Investors Traded 10.94 Billion Shares in January-NSE
February 11, 2013--Investors on the Nigerian Stock Exchange (NSE), in January bought and sold 10.94 billion shares worth N81.8 billion traded in 128,489 deals.
The statistics from the NSE, for the period under review, yesterday, showed this is against the 5.15 billion shares valued at N46.55 billion exchanged in 72,421 deals in December.
The statistics also showed that the difference in the turnover volumes is 5.89 billion shares higher or 112.43 per cent higher than that of December.
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Source: allAfrica.com
Resources push JSE to record high
February 8, 2013--The JSE closed at an all-time high on Friday with all the main indices, with the exception of banks, in the black, amid a relatively broad-based rally.
At 17:00 the All Share [JSE:J203] index closed 0.49% higher at 40 892.65 points‚ with resources adding 1.05% and the gold index advancing 0.62%. Banks gave up 0.46%.
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Source: FIN24
Rand tad softer despite Chinese data
February 8, 2013--The rand was slightly weaker at midday trade on Friday but remained well within range, despite better than expected Chinese trade data.
“Outside of any new local news the rand is likely to stay within the R8.85-R8.95 range to the dollar‚” said Kuziva Muganiwa‚ a global markets analyst from Vunani Capital.
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Source: FIN24
Stability! More U.S. Investors Fall for Sierra Leone
February 8, 2013--While interacting with media practitioners yesterday at his Signal Hill residence, west of Freetown, the United States Ambassador to Sierra Leone disclosed that more U.S.-based companies have expressed interest to invest in Sierra Leone as a result of the stable business atmosphere created by the government.
Michael S. Owen said it was significant to note that American companies are getting more interested in Sierra Leone because of the good news reaching the owners particularly those related to the November 17 elections in which his government spent over US$ 4 million to support.
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Source: allAfrica.com
JSE edges up at open, platinums lead
February 7, 2013--The JSE edged up at the start of trading on Thursday, underpinned by relatively strong demand for platinum stocks, as market players looked to Europe for further guidance.
At 9:41 the JSE All Share [JSE:J203] index was up 0.17% at 40 629.05‚ with the Top 40 - (Tradeable) index [JSE:J200] nudging up 0.18% to 36 221.98 while the platinum index gained 0.89%.
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Source: FIN24
Bonds firmer despite London selling
February 7, 2013--The South African bond market was a touch firmer in afternoon trade on Thursday despite some selling out of London.
"We were looking to go stronger as the manufacturing production data was disappointing‚ but that was met by selling out of London‚” a local bond dealer said.
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Source: FIN24
Banks pull JSE into red
February 6, 2013--The JSE moved from being in positive territory to close the day down, with banks weighing while platinums gained after the price of the metal surged due to supply concerns.
At 17:00‚ the All Share [JSE:J203] index closed down 0.25% at 40 559.67 points‚ with the platinum index gaining 1.14%. At 5:06 the spot price of platinum was 1.32% higher at $1 733.50/oz‚ from $1 708.00/oz on Tuesdayview more
Source: FIN24