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Local stocks softer on downgrade fears
February 18, 2020--Weakness was not only limited to the local bourse as global markets also retreated on the back of concerns that the coronavirus would have much bigger impact on global growth
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Source: FIN24
IMF Staff Concludes Article IV Consultation to Nigeria
February 17, 2020--Growth is still recovering, inflation is increasing, and external vulnerabilities are rising.
Fiscal reform momentum and recent tightening of monetary policy are welcome.
Major policy adjustments remain necessary to contain short-term vulnerabilities and unlock Nigeria's growth potential.
An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Lagos and Abuja from January 29-February 12, 2020 to conduct its annual Article IV Consultation discussions on Nigeria's economy.
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Source: IMF
Rand slumps as Moody's lowers SA growth forecast
February 17, 2020--South Africa's rand weakened and bond yields rose after Moody's Investors Service lowered its forecasts for economic growth, raising the risk the country may lose its last investment-level credit rating.
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Source: FIN24
JSE advances as global stocks hold steady
February 17, 2020--The rand plummeted in the afternoon session after Moody's lowered South Africa's GDP forecast to 0.7% from 1%
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Source: FIN24
Rand leads EM currency gains as traders digest Ramaphosa speech
February 14, 2020--The local currency is heading for its best weekly performance this year.
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Source: FIN24
Local bourse inches higher after another slow session
February 14, 2020--The outlook was mixed in most global markets starting off in Asia where the Hang Seng and Shanghai Composite Index gained 0.31% and 0.7% respectively, while the Nikkei shed 0.59%.
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Source: FIN24
Resources lead JSE rally
February 12, 2020--The JSE opened mildly firmer and climbed further as the session progressed. The surge started off in Asia where the Shanghai Composite Index gained 0.81%, the Hang Seng added 0.87% while the Nikkei rose 0.74%.
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Source: FIN24
JSE rebounds on the back of US index record highs
February 11, 2020--The sea-saw action in financial markets continues despite the ongoing risks associated with the coronavirus.
The gains in today's session seem to have been triggered by another record high trading session in the USA on Monday.
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Source: FIN24
JSE retreats as global sentiment remains weak
February 10, 2020--Investors continued to assess the impact of the coronavirus particularly to global growth with most sectors taking a rather cautious approach.
There are still broader concerns over the spread of the virus and how prepared health authorities are to contain it.
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Source: FIN24
Rand weakens to above R15/$
February 7, 2020--Emerging markets are coming under pressure due to concerns over the economic impact of coronavirus, says Bianca Botes of Peregrine Treasury Solutions.
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Source: FIN24
