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Nigeria May Join Global Economic Powers in 2030 -U.S.
January 3, 2013--Nigeria could join a handful of countries including China that would be pivotal in shaping the world's economy by the year 2030 according to a report by the super secret United States National Intelligence Council, NIC.
The NIC report just released, projects an idea of what the world would look like in the future.
The report which is an articulation of expertise opinion from the US intelligence community released last December, however, admits that it may not be exact.
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Source: Allafrica.com
JSE continues rally on US data
January 3, 2013--The JSE continued its strong start to 2013 with another record close on Thursday.
After some profit-taking earlier in the day‚ the JSE moved higher in the afternoon after the US ADP employment data showed strong private sector jobs growth in December. The official non-farm payrolls data is due on Friday.
“We are ending higher on the back of the US data. The gain is not as big as on Wednesday‚ but it does give us positive momentum‚” a local equity trader said.
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Source: FIN24
Bonds weaker on softer rand
January 3, 2013--The South African bond market was weaker in quiet midday trade on Thursday on a softer rand.
“The softer rand prompted some profit-taking‚ but otherwise there is little to move the market‚” a local bond trader said.
At 11:42 the benchmark R186 was trading at 7.250% from a previous close of 7.230%. The R157 was trading at 5.340% from 5.315% previously and the R207 was bid at 6.305% and offered at 6.275% from its previous close of 6.255%.
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Source: FIN24
JSE tops 40 000
January 2, 2013--The JSE All-share index, the broadest measure of Johannesburg stock performance, topped 40 000 for the first time in its more than 17-year history on Wednesday, propelled by the US fiscal deal that sparked a global equity rally.
The All-share surged 2.07% to finish at 40 061.75, its highest finish since the index was launched in mid-1995.
The benchmark Top-40 also booked a record close, jumping 2.4% to 35 630.85.
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Source: FIN24
Rand flat after US averts fiscal cliff
January 2, 2013--The rand was flat just before noon on Wednesday after the initial euphoria of the US averting the fiscal cliff waned.
“In the short-term we have seen the rand strengthen on the back of the fiscal cliff news. Investors are taking this opportunity to increase their appetite for equities‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.
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Source: FIN24
Index Rises 35.4% as Equities Gain N2.4tn
January 1, 2013-Nigerian equities rose to a 32-month high yesterday to close the year with a growth of 35.4 per cent, appreciating from 20, 730.63 at the beginning of the year to 28,078.81.
Specifically, the ASI rose 0.76 per cent to cross the 28,000 points psychological level. Similarly, the market capitalisation added N67.858 billion to close at N8.974 trillion.
In all, the equities market gained N2.441 trillion in 2012, rising from N6.533 trillion to N8.974 trillion. Speaking on the trading floor yesterday to market the end of trading in 2012, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, said “For the first time in two years, the NSE All-Share Index (ASI) and market capitalisation hit their highest. This is a good development that needs celebrating.”
While the ASI rose by 35.4 per cent, the market capitalisation of equities, which is a product of prices and volume of shares, recorded a higher growth of 37.4 per cent.
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Source: This Day Live
Stocks end 2012 near record highs
December 31, 2012--South African stocks ended the year near record highs on Monday, after a 22% surge that marks their best annual return since 2009, lifted by a runaway performance from the booming retailing industry.
Equities have confounded market watchers this year, as shares largely shrugged off lacklustre economic growth and three months of crippling strikes in the crucial mining sector that sparked credit downgrades.
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Source: FIN24
Rand weakens on fiscal cliff fears
December 31, 2012--The rand weakened against the US dollar on Monday as traders eyed the outcome of talks in the US concerning the fiscal cliff.
“The rand is still relatively strong from the start of the month‚ we are all still eyeing the fiscal cliff debate in the US. This will be the biggest influence on the local currency‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.
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Source: FIN24
Fiscal cliff keeps JSE in the red
December 28, 2012--Concerns about the stalled talks on the US fiscal cliff kept the JSE in the red on Friday.
The US goes over the so-called fiscal cliff at midnight on Monday when stiff tax hikes and drastic spending cuts take effect.
Economists say that would send the world's biggest economy back into recession.
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Source: FIN24
Bonds bid weaker on softer rand
December 28, 2012--The South African bond market was bid weaker in quiet trade at midday on Friday on the back of a softer rand.
At 11:40 the benchmark R186 was bid at 7.260% and offered at 7.255% from a previous close of 7.230%. The R157 was bid at 5.330% and offered at 5.310% from 5.310% previously and the R207 was bid at 6.260% and offered at 6.250% from its overnight close of 6.250%.
The rand was last bid at R8.5064/$ from R8.4778 previously.
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Source: FIN24
