Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand range bound, awaits US job report
May 4, 2012--The rand was range bound in midday trade on Friday, with investors in the forex markets not keen to take new positions ahead of the US jobs report later in the session.
PSG Prime FX sales trader Lynden Reabow said that if the US nonfarm payroll data for April came out bullish, this could encourage risk-on environment which was rand positive. However, if it was bearish, this could strengthen the US dollar.
"The European Central Bank president gave us little guidance on Wednesday, with US ADP numbers not giving us any comfort because they were negative," he said.
trad more
Source: FIN24
JSE dips, awaits US job data
May 3, 2012--Africa's largest producer, AngloGold Ashanti and third-placed Gold Fields shed 2% each to R258.06 and R97.62 respectively, hit by a decline in the price of gold.
South African share prices eased from a record high in the previous session led by gold mining stocks such as Harmony and investors will be watching employment statistics out of the United States for direction.
Banking shares moved in the opposite direction after data showing that jobless claims in the world's biggest economy fell last week boosted expectations that the US non-farm payroll report due out on Friday would beat expectations.
read more
Source: FIN24
Bonds firm, offshore buying continues
May 3, 2012--South African bonds were firm in midday play on Thursday, as foreign buying buoyed the market.
At 11:50, the benchmark R157 bond was at 6.350% from its previous close of 6.390%. The R207 was bid at 7.450% and offered at 7.420% from a previous close of 7.480%, and the R186 was trading at 8.080% from its close of 8.120%.
The rand was bid at R7.7399 against the dollar from its previous close of R7.7253.
read more
Source: FIN24
Rand slightly stronger on ECB rate hold
May 3, 2012--After a slightly weak start, the rand was stronger in afternoon trade on Thursday as it tracked a strengthened euro following the European Central Bank's (ECB) announcement that interest rates would remain unchanged.
A local trader said the ECB meeting was the main focus for the day, and the rand made a slight recovery in the afternoon following ECB president Mario Draghi's announcement that the bank would keep the rate at 1%.
ECB president Mario Draghi said monetary policy was accommodative and that there was "absolutely" no contradiction between the growth compact and the fiscal compact, Dow Jones Newswires reported.
read more
Source: FIN24
Bonds tad firmer after auction
May 2, 2012--With some exceptions, bonds were a smidgen firmer in noon trade on Wednesday, having received some support from the weekly government auction which cleared better than expected.
But trade remained thin with the market slowly getting back to normality after what turned out to be a five-day break for many players with Friday and Tuesday being public holidays and many people taking the Monday off as well.
read more
Source: FIN24
JSE All-share hits all-time high
May 2, 2012--The JSE reached a new record level during trade on Wednesday, lifted by resources following the release of Chinese manufacturing data which, an analyst said, restored confidence in commodity trade.
The Chinese data for April surpassed forecasts and sent the Dow Jones Industrial Average to its best close in more than four years on Tuesday.
The strong Chinese manufacturing data and the HSBC China Manufacturing Purchasing Managers' Index propelled the gains, with media reports saying the latest figures indicate that growth in Asia's biggest economy is picking up after a lull over the past few months.
read more
Source: FIN24
Rand tracks euro, remains range-bound
May 2, 2012--The rand remained traded in ranges during Wednesday afternoon as it tracked the euro, while the release of the SA Purchasing Managers' Index (PMI) had little effect on the local currency.
The PMI, which is a diffusion index measuring activity in the manufacturing sector, with 50 the breakeven level, dropped to 53.7 in April from 55.1 in March, 57.9 in February and 53.2 in January.
At 17:24 local time the rand was bid at R7.7583 to the dollar from its previous close of R7.7283. It was bid at R10.2067 to the euro from R10.2270 before, and at R12.5708 against sterling from R12.5305 previously.
read more
Survey: More investment in Africa
Investment from across the world surged from 339 projects in 2003 to 857 in 2011. Growth in intra-African investment was being led by the regional powerhouses of Kenya, Nigeria and South Africa. read more
JSE off session highs at noon
Financials lifted 0.45%, banking stocks were up 0.39% and industrials slipped 0.12%.
read more
Rand stuck in ranges ahead of holiday
The ECB is meeting on Thursday in Barcelona and media reports say it may refuse any more easy money for governments as the political resolve to rein in deficits shows signs of crumbling in that region.
read more
Source: FIN24
May 2, 2012--Growing confidence in African economies has more than doubled foreign direct investment into the continent over the last decade, said a survey released Thursday.
"Growing optimism and confidence among international and African investors has led to significant inward investment into Africa over the last decade," according accounting firm Ernst & Young.
Source: FIN24
April 30, 2012--The JSE was off session highs in midday trade on Monday, but strong buying interest in the resources sector kept the local bourse in the black.
At 12:00 local time, the JSE All Share [JSE:J203] index was up 0.32% to 34 362.67 points, with resources gaining 0.99% and platinum shares edging up 0.14%, while gold counters lost 1.49%.
Source: FIN24
April 30, 2012--The rand was stuck in ranges in Monday afternoon trade despite SA's trade deficit of R5.5 billion for its trade with non-Southern African Customs Union trading partners in March.
The rand remained firm throughout the day before the trade data was released by SARS. Its performance was said to be flat by analysts who also anticipated little movement of the local currency until the outcome of the European Central Bank (ECB) meeting later this week.
Source: FIN24
