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Bonds weaker on softer rand
February 14, 2013--The South African bond market was weaker in midday trade on Thursday on the back of a weaker rand.
“We are weaker on the back of the softer rand‚ but appear to have stabilised for the moment. We are watching the rand and if it goes above R8.9 then we could see some renewed selling‚” a local bond trader said.
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Source: FIN24
JSE reverses losses, miners lead
February 13, 2013--The JSE made a sharp reversal in late trade on Wednesday after the US released retail sales. The local bourse had been trading flat for most of the day prior to that.
Miners‚ specifically platinum miners‚ provided the most support on the day‚ due to a higher platinum price because of supply concerns. At 17:08 local time the platinum price was quoted at $1‚722/oz from $1‚716/oz on Tuesday.
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Source: FIN24
Stanlib launches property exchange-traded fund
February 12, 2013--Asset manager Stanlib's property exchange-traded fund (ETF) will begin trading on Wednesday, tracking the performance of the FTSE/JSE SA listed property index (SAPY).
The property ETF forms part of Stanlib’s long-term strategy to cover all asset classes in low-cost index products.
"Property is an entirely different asset class and should be managed as such," Stanlib’s head of ETFs, Len Jordaan, said on Tuesday. "This is why a specialist ETF makes sense in the current market.
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Source: Yahoo News South Africa
JSE lower,retailers weigh
February 12, 2013--The JSE closed the Tuesday session in the red with general retailers the biggest losers followed by platinums‚ while only gold miners provided some support.
At 17:00 the All Share [JSE:J203] index closed 0.32% softer at 40 700.45 points and the top 40 slid 0.34% to 36 286.98 points‚ with retailers giving back 1.65%‚ platinums shedding 0.73% and gold miners adding 0.69%.
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Source: FIN24
Bonds softer on weaker rand
January 12, 2013--The South African bond market was softer in midday trade on a weaker rand.
The National Treasury allotted R500m of R209 bonds at a clearing yield of 8.225%‚ R800m of R214 bonds at a clearing yield of 8.280% and R800m of R2048 bonds at a clearing yield of 8.410%.
Bids received amounted to R2.04bn‚ R1.505bn and R1.76bn respectively.
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Source: FIN24
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
