Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand strengthens on US fiscal hopes
December 7, 2012--The rand strengthened on Friday afternoon after renewed hopes that the biggest economy in the world will avert the fiscal cliff.
“The rand strength is down to the possibility of the US fiscal cliff being avoided. This has been factored into the market. The rand and dollar are strengthening at the same time. Normally its not like this. The US avoiding the fiscal cliff brings back positive sentiment and the market’s risk appetite into play‚” said Mark Kalkwarf‚ a senior portfolio manager from the Iquad Group.
read more
Source: FIN24
JSE ends up, but off intraday high
December 6, 2012--The JSE all share index and the top 40 index pared some gains after hitting intraday all-time highs on Thursday, due to stability around the US fiscal cliff issue.
Risk-on trade saw money flowing through to emerging markets with investors looking for attractive yields.
Platinums led the gains on the JSE after being under pressure for the last few months due to strikes‚ while gold counters weighed as a result of a weaker gold price and stronger rand.
read more
Source: FIN24
Bonds firm after Sarb data
December 6, 2012--The South African bond market was firm in quiet midday trade on Thursday after the release of the South African Reserve Bank's (Sarb) Quarterly Bulletin at 10:00, which showed that the current account deficit remained at 6.4% of GDP in the third quarter rather than deteriorating further.
“The current account data was better than expected‚ but the market is worried about this quarter’s deficit given the record foreign trade deficit in October‚” a local bond trader said.
read more
Source: FIN24
Rand strengthens on current account data
December 6, 2012--The rand strengthened before noon on Thursday after better-than-expected data relieved pressure on the local currency.
“The current strength of the rand is mainly due to the current account not widening. Before it was released it was weaker‚ but the news made the rand less vulnerable to offshore markets‚” said Kuziva Muganiwa‚ a global market analyst from Vunani Private Clients.
view more
Source: FIN24
Mining ouput declines over strikes
December 6, 2012--Year-on-year economic growth halved to 1.2% mainly because strikes dampened mining output, the SA Reserve Bank quarterly bulletin reported on Thursday.
It said the real output of the mining sector contracted by 12.7% in the third quarter of the year.
This compared to a strong quarter-to-quarter increase of 30.9% in the second quarter of the year.
Towards the end of the quarter, labour unrest after the shooting at Lonmin [JSE:LON] Platinum's Marikana operations had spilled over to other mines.
view more
Source: FIN24
Vetiva To Launch First Equity Exchange Traded Fund At Nigeria's Bourse
December 5, 2012--Vetiva Fund Managers will launch the VNSE 30 Index Securities, an Exchange Traded Fund ("ETF") based on the NSE 30 Index (an index of the most capitalized and liquid stocks listed on The Nigerian Stock Exchange).
Sources at the Victoria Island--Lagos based firm told THEWILL that when listed, the fund will be the first equity-based ETF to be listed on The Nigerian Stock Exchange following the listing of the Newgold Exchange Traded Fund (a commodity based ETF) in 2011 (in which Vetiva Securities acted as Sponsoring Broker).
view more
Source: The Will
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.
view more
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%.
view more
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.
view more
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.
view more
Source: FIN24
