Africa ETF News Older Than 1 year-If your looking for specific news, using the search function will narrow down the results
SA loses mining allure - SAIRR
June 24, 2012--South Africa has become significantly less attractive as a mining investment destination since 2006, the SA Institute of Race Relations (SAIRR) said on Tuesday.
"Uncertainty over nationalisation and mine ownership, and increasing work disruptions are affecting investors' willingness to get involved in mining ventures in South Africa," SAIRR researcher Jonathan Snyman said in a statement.
In 2006, South Africa's attraction for mining investment was ranked 37th out of 64 countries and territories, according to the latest SA Survey, published by the institute in Johannesburg this week. In 2010, this had dropped to 67th out of 79 countries and territories surveyed by the Canadian-based Fraser Institute.
read more
Source: FIN24
Sarb index rise bodes well for economy
January 24, 2012-- The central bank’s monthly economic indicator nudged higher for the third month in November, rising by 0.6% month-on-month to 132.2 after another slight increase in October, the South African Reserve Bank said on Tuesday.
The indicator collates data such as business confidence, job advertisements and the volume of manufacturing orders to gauge the economic outlook, and has been soft but gradually picking up in 2011.
The major positive contributors to the movement in the leading indicator in November were the Bureau for Economic Research's average hours worked per factory worker in the manufacturing sector and the number of residential building plans passed.
read more
Source: FIN24
SA stocks post 5th straight record close
January 23, 2012--South Africa’s All Share [JSE:J203] index posted fifth straight record closing high on Monday, while the benchmark Top 40 - (Tradeable) [JSE:J200] index posted its highest finish since May 2008.
The broad All-share index inched up 0.7% to 33 940.48, a record closing level, after earlier rising as high as high as 33 949.41.
The Top-40 index edged up 0.8% to 30 365.89, its highest closing level since May 2008.
read more
Rand, bonds gain on positive sentiment read more
JSE extends gains to new highs read more
Rand sees best week since Nov
The rand ended weaker against the dollar on Friday, losing steam after hitting two-month highs of 7.8976 late on Thursday.
read more
SA stocks end at fresh record high read more
Rand retreats after hitting high rea more
JSE rises, eyes record high read more
Rand recovers from rating hit read more
Source: FIN24
January 23, 2012--South Africa’s rand gained against the dollar in afternoon trade on Monday, reversing earlier losses as exporters sold the greenback close to the R8 level and as investors hoped Greece would find a solution avoid a messy default.
Yields on government bonds were down as prices rose slightly to follow the firmer rand, but dealers see the gains as limited especially on the shorter end of the curve as investors fret rising inflation in the local economy.
Source: FIN24
January 20, 2012--Johannesburg - South Africa’s All Share [JSE:J203] index added 0.35% on Friday, striking a fourth consecutive record close while the Top 40 - [JSE:J200] index booked its highest close in three-and-a-half years.
The broad All-share ended at 33 703.38 after hitting a lifetime high of 33 721.32 in earlier trade. The blue chip index added 0.36% to close at 30 116.40, the highest level since mid 2008.
Source: FIN24
January 20, 2012--South African market players dumped shorter-dated bonds on Friday for the long end of the curve after hawkish central bank comments on Thursday.
Shorter dated bonds are more sensitive to interest rate expectations and the central bank's view that the inflation outlook has deteriorated hardened expectations of rate increases.
Source: FIN24
January 18, 2012--South Africa’s All Share [JSE:J203] index hit a fresh record high for the second straight day on Wednesday, edging up 0.4% to close at their highest ever, as investors continued to raise their stakes in miners Lonmin and other heavyweights.
The All Share, the broadest measure of South African stock performance, hit a new high of 33 557.62 before paring some gains to 33 550.09, up 0.38% on the day.
Source: FIN24
January 18, 2012--South African government bonds firmed on Wednesday, bringing yields down across the curve as the market trimmed its rate increase expectations after softer-than-expected data.
Inflation came in lower than expected at 6.1% year-on-year in December. Purchasing managers' index (PMI) data indicated the manufacturing sector was still sluggish, while retail sales data suggested consumer spending was not growing as fast as previously anticipated.
Source: FIN24
January 16, 2012--South African stocks gained on Monday, with the All Share [JSE:J203] index hitting a record close as investors shrugged off a ratings outlook downgrade last week and focused on buying back oversold shares such as MTN .
The All Share closed 0.84% higher at 33 205.01, a mere 130 points from an all-time high of 33 334.55 hit 11 months ago. The blue-chip Top 40 - (Tradeable) [JSE:J200] added over 1% to 29 639.19.
Source: FIN24
January 16, 2012--The rand firmed against the dollar on Monday as exporters took the chance to sell dollars after a sharp fall for the local currency in the previous session due to ratings agency Fitch’s downgrade of its outlook for the country.
The rand was trading at 8.0880 against the dollar at 15:15 GMT, 0.46% firmer than Friday’s New York close of 8.1250. It hit a one-week low of 8.2249 on Friday after Fitch’s statement.
Source: FIN24
