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Nigeria's Foreign Direct Investment Hits $9bn
July 18, 2012--The total value of Foreign Direct Investment (FDI) that came into Nigeria in 2011 was $8.9 billion with the country recording over 20 per cent of the total FDI to Africa.
Analysts at Renaissance Capital (RenCap) which disclosed this, also revealed that FDI inflow into Africa in 2011 increased by 28 per cent to $35 billion in 2011, as against the $27.4 billion it was in 2010.
The investment and financial advisory firm disclosed these in a report titled ‘Sub-Saharan Africa: 2011 FDI Reaches Record High’, made available to THISDAY Tuesday.
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Source: This Day Live
JSE firmer amid quiet trade
July 18, 2012--The JSE was steady at midday, amid a slow trading day so far, with lacklustre volumes due to investor fatigue and a lack of clear direction in the market.
“US Fed Chairperson Ben Bernanke yesterday did elude to further quantitative easing if necessary‚ which helped the local market higher‚ albeit in a very cautious tone‚” said Devin Shutte‚ market analyst at stockbrokerage Newstrading.
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Source: FIN24
Bond yields ease before inflation data
July 18, 2012--Government bond yields tracked lower on Wednesday, pushed down by more offshore buying and domestic market expectations of a moderation in inflation that may allow the central bank room to cut interest rates this year.
The rand was slightly weaker at R8.1872/dollar at 06:30 GMT compared to a R8.1685 close in New York, and dealers said it would trade in a R8.16-R8.24 range ahead of a central bank interest rate decision on Thursday.
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Source: FIN24
JSE edges up in cautious trade
July 17, 2012--The JSE edged up in the opening session on Tuesday, in cautious trade ahead of the US Federal Reserve chairperson Ben Bernanke's congressional hearing.
Equity markets will be looking for any hints on possible additional monetary easing.
At 09:21 local time‚ the JSE All Share [JSE:J203] index was up 0.16% at 33‚781.02 points‚ with gold miners gaining 0.40%‚ platinum shares nudging up 0.23% while resources counters were flat (0.01%.)
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Source: FIN24
Rand firms amid US stimulus hopes
July 17, 2012--The rand firmed against the dollar on Tuesday amid hopes the US Federal Reserve will provide more monetary stimulus to the world's biggest economy after a poor retail sales report.
The rand was 0.45% firmer against the greenback at 06:37 GMT, from Monday’s New York close of R8.220, with attention focused on US Federal Reserve Chairperson Ben Bernanke’s testimony to Congress on Tuesday and Wednesday
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Source: FIN24
JSE ends a tad lower in thin trade
July 16, 2012--The JSE ended slightly lower on Monday, tracking the weaker trend on global markets.
Banks and financials however‚ bucked the trend‚ led by FirstRand and RMB Holdings‚ respectively.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 0.19% at 33 728.14 points‚ with resources losing 0.53% and gold shares shedding 0.81%‚ but platinum miners were flat (-0.04%).
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Source: FIN24
Rand softer on dollar strength
July 16, 2012--The rand was softer at noon on the back of dollar strength, with all eyes on the US Federal Reserve's Ben Bernanke’s speech on Tuesday, with possible quantitative easing news expected, as well as a local interest rate announcement on Thursday.
At 12:08 the rand was bid at R8.2720 to the dollar from its previous close of R8.2551. It was bid at R10.0727 to the euro from its previous close of R10.1204 and at R12.8331 against sterling from R12.8547 before.
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Source: FIN24
China Q2 GDP lifts JSE
July 13, 2012--The JSE lifted at the opening session on Friday, in line with global markets, after China's second-quarter gross domestic product (GDP) data broadly met market expectations.
At 09:25 local time‚ the JSE All Share [JSE:J203] index was up 0.49% at 33‚555.55 points‚ with resources gaining 0.71%‚ gold shares rising 1.35% and platinum counters climbing 0.45%.
Financials lifted 0.32%‚ banking stocks edged up 0.29% and industrials were 0.41% firmer
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Source: FIN24
Rand in ranges during midday trade
July 13, 2012--The rand was in ranges in midday trade seeking direction ahead of the weekend, according to analysts.
The local currency had been under-pressure most of the week but came back a tad in early trading after Chinese gross domestic product (GDP) numbers were within the expected range.
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Source: FIN24
JSE stays weaker at noon
July 12, 2012--The JSE remained on the back foot at noon on Thursday, in line with the weaker trend on global stock markets.
At 12:01 local time‚ the JSE All Share [JSE:J203] index was down 0.39% at 33 593.52 points‚ with resources losing 0.44%. Gold shares were flat (0.05%) while platinum counters shed 0.49%.
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Source: FIN24