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JSE ends at high on Chinese news
December 5, 2012--The JSE all-share index closed at an all-time high on Wednesday buoyed by positive global sentiment, after Chinese markets gained significantly on positive comments by China's new leader, Xi Jinping.
This led to speculation about monetary stimulus in the world’s second largest economy‚ which put risk back on the table.
At 17:00‚ the JSE All Share [JSE:J203] index closed 0.52% higher at 38 189.82 points‚ with the Top 40 - (Tradeable) [JSE:J200] gaining 0.61% to 33 927.03.
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Source: FIN24
Bonds firm on stronger rand
December 5, 2012--The South African bond market was firm in midday trade on Wednesday on a stronger rand.
“We have seen some buying this morning‚ but the market is not taking large positions until the current account data is released tomorrow‚” a local bond trader said.
At 11:53‚ the benchmark R186 was trading at 7.565% from Tuesday’s close of 7.580%. The R157 was trading at 5.490% from 5.505% at its previous close. The R207 was bid at 6.505% and offered at 6.485%‚ from its previous close of 6.510%.
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Source: FIN24
JSE softer on global concerns
December 4, 2012--The JSE closed softer on Tuesday with the all share index dipping below the 38 000 points level, with markets still concerned about the US fiscal cliff and awaiting further developments thereon.
At 17:00‚ the All Share [JSE:J203] index was down 0.15% to 37 991.31 points.
Gold stocks and resources weighed on the bourse‚ shedding 1.53% and 0.81% respectively‚ while platinums provided some upside closing 0.65% firmer.
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Source: FIN24
Rand steady as Zuma nears re-election
December 4, 2012--The rand is expected to remain range-bound as the ruling ANC moves closer to re-appointing President Jacob Zuma as its leader, reducing the uncertainty hanging over this month's internal party election.
The rand was at R8.8680 to the dollar at 06:39 GMT, largely in line with its New York close on Monday.
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Source: FIN24
JSE pares losses, boosted by banks
December 3, 2012--The JSE pared losses in late trade to finish just slightly lower on Monday, boosted by some buying interest in banking and financial shares.
At 17:00‚ the All Share [JSE:J203] index was down 0.14% to 38 049.74 points. Gold stocks led the downside‚ dropping 3.12%‚ while banks garnered 1.06%.
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Source: FIN24
Rand remains strong on firm euro
December 3, 2012--The rand remained strong in afternoon trade on Monday on a firm euro.
“We kept steady against the euro‚ which in turn firmed against the dollar‚ so that has seen us trade near R8.85 per dollar for most of the day‚” a local trader said.
At 16:11‚ the rand was bid at R8.8534/$ from Friday’s close of R8.8909. The local currency was bid at R11.5507/€ from its previous close of R11.5527 and at R14.2276 against sterling from R14.2255 before.
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Source: FIN24
JSE closes at fresh all-time high
November 30, 2012--The JSE all share closed at a fresh all-time high on Friday after weak trade figures pushed the rand lower with rand hedge stocks gaining as a result.
Gold miners and industrials also providing a boost, while platinum was the biggest loser on the day.
World markets were also trading in positive territory‚ but uncertainty persisted about the US fiscal cliff and next week’s Greek debt buyback.
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Source: FIN24
Rand slides after poor trade data
November 30, 2012--The rand lost ground against major currencies in late trade after the release of disappointing domestic trade data, wiping off all its gains of the week.
At 15:41‚ the rand was bid at R8.8720/$ from Thursday’s close of R8.7842. The local currency was bid at R11.5054 to the euro from its previous close of R11.3883 and at R14.1817 against sterling from R14.0771 before.
The euro was bid at $1.2971‚ unchanged from its previous close.
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Source: FIN24
Stock Exchange Explains Delay in Releasing Trading Summary
November 29, 2012--The Nigerian Stock Exchange (NSE) has explained that the delay in the release of the daily transactions details on Monday, November 26 and Tuesday, November 27, 2012, was necessitated by the changes required to achieve the re-basing of five indices.
In a statement yesterday, the Exchange said the changes were successfully completed on Tuesday, November 27, 2012.
The affected indices are: the NSE Consumer Goods Index, NSE-30 Index, the Banking Index, the NSE Oil and Gas Index and the NSE Insurance Index.
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Source: This Day Live
Rise of pension giants set to transform investment in Africa
November 29, 2012--New giants are arising in African investments-the domestic pension funds. In Nigeria the National Pensions Commission (PenCom) estimated registered pensions to be worth US$14bn in June 2011, with asset values up by 8% in three months; Namibia's Government Institutions Pension Fund alone is worth some $6bn;
South Africa’s pension funds grew at a compound annual growth rate of 14.3% in US dollar terms over 10 years to December 2010, including over 28% in 2010 and Tanzania’s pension industry was audited at $2.1bn for 2010, and growing by 25% a year.
The number of pensioners is set to soar, according to United Nations figures, as the number of people over 60 years in Africa will rise from 55m in 2010 to 213m by 2050, compared to 236m Europeans over 60 years old by 2050. Current pension funds cover only 5%-10% of Africans ranging from 3% in Niger but it used to be 80% in North African countries such as Egypt, Libya and Tunisia. Pensions are not available at all in some countries.
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Source: African Capital Markets
