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Securities Africa Financial is new name for Nigerian SE stockbroker
September 26, 2012--Pan-African stockbroker and financial services firm Securities Africa (www.securitiesafrica.com) has acquired a Nigerian stockbroker, Skye Stockbrokers Limited, in June and this week it announced that it has successfully changed its name to Securities Africa Financial Limited.
The company has appointed Mr. Afolabi Folayan as Managing Director.
The stockbroker was previously owned by Skye Bank Plc and it was sold to Securities Africa Limited and local shareholders in compliance with a 2011 regulation by the Central Bank of Nigeria on universal banking. Securities Africa Financial Limited is a licensed member of The Nigerian Stock Exchange and regulated by the Securities & Exchange Commission of Nigeria. It has been busy with rebranding the company. Securities Africa Limited is an award-winning Pan-African financial services firm with offices throughout Africa, Asia, Europe and the Americas.
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Source: African Capital Markets
JSE stays weaker on mining stocks
September 25, 2012--General mining shares led a mild pullback on the JSE all-share index at noon on Tuesday, as SA equities played catch up with leading world markets following the public holiday in SA on Monday.
At 12:42 local time the JSE all-share index was down 0.42% at 36 055.52 points‚ with resources shedding 1.70% but banks lifting 0.88%.
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Source: FIN24
JSE closes lower,miners weigh
September 24, 2012--The JSE share market closed lower on Friday afternoon with platinum leading the downside followed by gold miners and resources amid quiet trade ahead of the long weekend, with Monday being a public holiday in SA.
At 17.00 local time‚ the JSE all-share index was down 0.42% at 36 206.33 points‚ with platinum miners shedding 1.47% and gold miners down 1.34%‚ whilst banks added 1.27%.
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Source: FIN24
Rand stays firmer in quiet trade
September 21, 2012--The rand exhibited a firmer bias in late trade on Friday ahead of the long weekend.
Monday is a public holiday in SA.
At 16:07 local time‚ the rand was bid at R8.2513 to the dollar from R8.30 at Thursday’s close. It was bid at R10.7192 to the euro from its previous close of R10.7681 and at R13.4215 against sterling from R13.4598 before.
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Source: FIN24
JSE flat but gold miners leap
September 19, 2012--The JSE share market closed flat (0.05%) on Wednesday off the intra-day all-time high, with gold miners leading the upside and platinum in the red.
“Gold miners were higher on the back of a higher gold price and further monetary stimulus out of Japan‚ while platinum started higher due to the end of the strike at Lonmin‚ but then drifted lower again‚” said Kevin Algeo‚ portfolio manager at Imara SP Reid.
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Source: FIN24
Bonds slip from best level on rand
September 19, 2012--The South African bond market slipped from its morning best level in afternoon trade on Wednesday on a weaker rand.
“We are still firmer relative to Tuesday‚ but off our best levels as the rand gave up some of its recent gains‚” a local bond trader said.
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Source: FIN24
Nigerian Stock Exchange launches market-making today
September 18, 2012--Today (18 Sept) the Nigerian Stock Exchange is to launch its market-making programme, according to its press release.
This will be a hybrid process, with market makers offering 2-way (buy-sell) price quotes in selected securities and a continuation of the current process in which licensed broker/dealers of the NSE submit orders.
The launch follows drawing up rules and operational guidelines. Role-players such as market makers, securities lenders, short sellers, settlement banks, pension fund administrators, insurance companies and listed companies have been trained, including in an 11 Sept workshop.
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Source: African Capital Markets
JSE closes lower on consolidation
September 17, 2012--The JSE share market closed softer on Monday on the back of some profit taking after global rallies last week, which pushed the JSE Ltd [JSE:JSE] to a fresh all-time high on Friday, after a third round of quantitative easing (QE3) was announced by the US Federal Reserve (Fed) on Thursday.
At 17:00 local time‚ the JSE all-share index was down 0.51% to 36 362.58 points‚ with most indices in the red‚ expect for platinum‚ which gained 2.16% with banks adding 0.18%.
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Source: FIN24
Rand fairly flat on ECB details
September 17, 2012--The rand was slightly weaker in late trade on Monday as traders eyed details of the ECB's (European Central Bank) conditional bond-buying programme for direction.
At 15:56 local time‚ the rand was bid at R8.2049 to the dollar from R8.1978 at Friday’s close. It was bid at R10.7871 to the euro from its previous close of R10.8030 and at R13.3259 against sterling from R13.3682 before
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Source: FIN24
SA still tops for investment in Africa
September 16, 2012--South Africa, Egypt and Nigeria are ranked as the most attractive economies to invest in, according to Rand Merchant Bank's second edition of Where to Invest in Africa.
The report, which ranks investment destinations across the region, now also analyses North African countries.
Data for selected emerging and developed nations has been included against which Africa’s performance can be compared, while an assessment is made on how the investment environment has been changing over time - mostly for the better, but sometimes for the worse.
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Source: FIN24