Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
IMF Working paper-Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants
June 1, 2012--Summary: This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. It finds that the pass-through is incomplete.
The pass-through is larger following a depreciation than after an appreciation of the local currency. The average elasticity is estimated at about 0.4. It is lower in countries with more flexible exchange rate regimes and in countries with a higher income. A low inflation environment, a prudent monetary policy, and a sustainable fiscal policy are associated with a lower pass-through. The degree of pass-through has declined in the SSA region since the mid-1990s following marked improvements in macroeconomic and political environments.
view the IMF working paper-Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants
Source: IMF
JSE flat in tentative trade
June 1, 2012--The JSE fell early in its opening session on Friday before recovering slightly in volatile trade as market players looked to the US jobs report later in the session for direction.
At 09:26 local time the JSE All Share [JSE:J203] index edged down 0.6% to 33?122.36 points with resources flat (-0.02%) while gold counters shed 0.87% and platinums counters lost 1.31%.
read more
Source: FIN24
Rand hits fresh low on US jobs data
June 1, 2012--The rand fell 2.2% to a fresh three-year low against the dollar on Friday after below-consensus US jobs data pointed to a slowdown in the world's largest economy.
The rand briefly touched R8.71 to the dollar, its weakest since May 2009, before coming back slightly to R8.6670 by 12:36 GMT.
read more
Source: FIN24
Gold stocks lead JSE bounce
May 31, 2012--The JSE kept a positive bias at noon, led mainly by gold shares, as the all-share index looked to recover from the previous day's selloff.
At 12:11 local time, the JSE All Share [JSE:J203] index was up 0.82% to 33 239.69 points, with gold shares gaining 2.26%, resources recovering 0.77% and platinums counters edging up 0.10%.
Financials lifted 0.42%, banking stocks garnered 0.49% and industrials were 0.99% in the black.
read more
Source: FIN24
Rand slightly firmer, ignores PPI
May 31, 2012--The rand held its own in afternoon trade after having made a slight recovery on Thursday morning. The PPI numbers released earlier had little impact on the currency, while the eurozone debt crisis continues to affect markets.
SA's April producer inflation reading came in at a lower than expected 6.6% from 7.2% in March, Statistics SA data showed.
PPI was up 0.3% on the month, while export inflation rose 5.3% on the year, but went down 0.2% on the month.
read more
Source: FIN24
OTC Market: NASD Finalises Trading Rules
May 30, 2012--The NASD Limited, which was has been granted an Approval-in-Principle (AIP) by the Securities and Exchange Commission (SEC) to operate Over-the-Counter (OTC) market in Nigeria, is finalising its trading rules and is targeting the last quarter of this year to commence operations.
NASD Limited was formed in 1998 to promote and operate an OTC market open to all interested registered securities dealers in Nigeria. It has been working towards putting in place an organised OTC market in place. SEC gave its approval last year.
It had planned to commence operations late last year but that was not possible as it was sourcing for funds and how to get a trading platform among other issues.
read more
Source: Todays Day live
JSE dips as miners weigh
May 30, 2012--The JSE fell at the start of trade on Wednesday with general mining shares leading the downside on the combination of Chinese economic growth worries and lingering eurozone debt woes.
At 09:27 local time the JSE All Share [JSE:J203] index was down 0.52% to 33 266.29 points with resources sliding 1.32% platinums losing 1.11% and gold counters shedding 1.68%.
read more
Source: FIN24
Rand slumps to 6-month low
May 30, 2012-The rand weakened over 1.8% to a six-month low against the dollar on Wednesday as political uncertainty in Greece fanned a fresh wave of risk aversion.
The rand hit a session low of R8.5055 to the greenback,
read more
Source: FIN24
JSE opens higher on world stocks
May 29, 2012--The JSE lifted at the start of trading on Tuesday in line with leading global stocks amid some signs of stability in the markets following last week's volatility.
At 09:22 local time the JSE All Share [JSE:J203] index was up 0.53% to 33?278.82 points with resources adding 0.91% platinum edging up 0.14% and gold counters gaining 0.51%.
Financials garnered 0.47% banking stocks lifted 0.49% and industrials were up 0.34%.
read more
Source: FIN24
Rand rage bound -ignores GDP data
May 29, 2012--The rand was range bound in midday trade on Tuesday as the local GDP data had little impact on the market.
Analysts predicted the rand would continue to take its cue from the euro as the second Greek election draws nearer.
SA's real GDP at market prices on a quarter-on-quarter (q/q) seasonally adjusted annualised (saa) basis rose by 2.7% in the first quarter of 2012 from an unchanged 3.2% in the fourth quarter of 2011? Statistics SA data showed on Tuesday
read more
Source: FIN24
