Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Platinum market swings into deficit
November 13, 2012--Supply outages in South Africa are set to push the platinum market into deficit this year as shipments from SA fell by the equivalent of more than a month's demand, refiner Johnson Matthey said on Tuesday.
The platinum market is expected to swing into a 400 000 ounce deficit this year from a 430 000 ounce surplus in 2011, largely due to a 605 000-ounce drop in sales from South Africa, which accounts for seven out of 10 ounces of world supply.
read more
Source: FIN24
Bonds mixed in quiet trade
November 12, 2012--The SA bond market was mixed across the yield curve in muted Monday afternoon trade.
At 15.55 the benchmark R186 was trading at 7.590% from Friday’s close of 7.600%. The R157 was trading at 5.475% from its previous close of 5.450%.
read more
Source: FIN24
SA launches first ever Green Bond
November 9, 2012--South Africa's first ever institutional Green Bond has been launched. The R5bn bond will be used to fund the growth of green and energy efficient industries.
Issued by the Industrial Development Corporation (IDC) of South Africa‚ Nedbank‚ in line with its ongoing commitment to sustainability‚ is the lead arranger and manager of the Green Bond.
read more
Source: FIN24
Softer world markets drag down JSE
November 9, 2012--The JSE closed in negative territory on Friday albeit off its intra-day lows, as the bourse followed world markets lower amid lingering fiscal cliff-tax increases and spending cuts-concerns and worries about how the US Congress will tackle this problem.
At 17:00‚ the JSE All Share [JSE:J203] index was down 0.66% to 37 344.40 points‚ with the top-40 index losing 0.85%. The gold sector was the only index showing some upside‚ adding 1.04% on the day‚ while the platinum sector was the worst performer‚ dropping 3.06%.
view more
Source: FIN24
Bonds firmer despite rand weakness
November 9, 2012--The SA bond market maintained a positive bias in late trade, with the longer end of the yield curve attracting the most interest despite the softer rand.
At 15:44 the benchmark R186 was trading at 7.580% from Thursday’s close of 7.625%. The R157 was trading at 5.445% from its previous close of 5.460% and the R207 was bid at 6.435% and offered at 6.410%‚ from its previous close of 6.440%.
read more
Source: FIN24
Rand softer due to dollar strength
November 9, 2012--The rand pared gains in late trade on Friday due to some dollar strength coming through due to continued eurozone debt concerns.
“The rand is softer due to some dollar strength. We have seen the local currency a lot weaker on other days‚” said a local trader.
read more
Source: FIN24
Nigeria makes credit ratings debut
November 8, 2012--Nigeria, Kenya and Zambia, three of Africa's most dynamic economies, received their first sovereign ratings from the Moody's agency on Wednesday, handily beating Greece in the creditworthiness stakes.
Predicting African governments would increasingly turn to markets to fund public programmes, Moody's gave Nigeria the highest rating of the trio, at Ba3, just under investment grade.
read more
Source: FIN24
JSE softer, awaiting local data
November 8, 2012--The JSE opened in negative territory on Thursday amid quiet trade with investors awaiting local mining and manufacturing figures for September due out on Thursday.
At 09:26 the JSE all share index [JSE:J203] was trading 0.33% lower at 37 345.00 points‚ the top 40 [JSE:J200] was down 0.37% and the gold mining index dipped 0.54% after a major surge of 4.50% on Wednesday due to gold that was bought because it is seen as an anti-inflationary measure in the US.
read more
Source: FIN24
Rand weakens on data worries
November 8, 2012--The rand weakened on Thursday afternoon as traders reacted to disappointing local data and worries that the EU was sliding further into recession.
“South African manufacturing data out earlier today was extremely negative for the rand. Mine production‚ which also came out today was also very negative for the rand. The mine production was not a huge shock as it was expected due to the strikes in the mining industry‚” said Mark Kalkwarf‚ a senior portfolio manager from the Iquad Group.
view more
Source: FIN24
Gold index pulls JSE higher
November 7, 2012--The JSE traded marginally higher on Wednesday morning with US President Barack Obama's re-election having little effect on the bourse, as an Obama victory was widely expected by world markets.
Obama is only the second Demcratic president to be elected to serve a second term since World War Two.
view more
Source: FIN24
