Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand under pressure, bonds weak
December 14, 2011--South Africa’s government bonds fell on Wednesday after data showed inflation hit 20-month highs in November, diminishing lingering hopes of an interest rate cut next year.
The data added to negative sentiment that was already driving markets weaker and saw the rand hit two-week lows.
read more
Source: FIN24
JSE dips, still outperforms Brics
December 13, 2011--South African stocks dipped 0.2 percent on Tuesday, as investors sold telecom MTN Group and retailers on concerns a recent advance was overdone, shifting into media firm Naspers [JSE:NPN] and other battered shares.
Equities in Africa’s top economy are on track to end a volatile year flat, hampered by concerns about the euro zone debt crisis and a hard landing in China.
read more
Source: FIN24
Rand in a range awaits Fed
December 13, 2011-- The rand held steady in subdued trade on Tuesday afternoon ahead of the US Federal Reserve's announcement on monetary policy.
At 18:00 local time, the rand was bid at R8.2694 to the dollar from its previous close of R8.2779. It was bid at R10.8399 to the euro from R10.8995 before, and at R12.8653 against sterling from R12.8919 previously.
The euro was bid at US$1.3107 from its previous close of US$1.3163.
read more
Source: FIN24
Stocks down as miners hit, resistance weighs
December 12, 2011--South African stocks slid 1.4% on Monday, as a sharp decline in precious metal prices hit miners such as Gold Fields and Impala Platinum.
Shares of RMI Holdings rose nearly 3% after black investment group Royal Bafokeng Holdings said it would increase its stake in the insurance holding company and its affiliate, bank holding firm RMB Holdings.
read more
Source: FIN24
Rand drops over 2% against dollar
December 12, 2011--The rand fell 2.4% against the dollar on Monday and government bonds extended last week’s losses as South African markets suffered another bout of investor risk-aversion.
The rand opened at 8.10 and even firmed slightly in early trade but was down 2.4% to 8.2760 by late afternoon as investors withdrew from risky positions while a solution to Europe’s debt crisis eludes markets.
read more
Source: FIN24
JSE ends volatile week lower
December 9, 2011-- South African stocks ended a skittish week slightly lower on Friday as investors fretting over the outcome of a key meeting in Europe to quell the region’s debt crisis sold off industrial stocks such as platinum miner Lonmin.
Nearly all European Union leaders agreed to build a closer fiscal union to address the region’s debt problems after a two-day summit but Britain said it could not accept the proposed EU treaty amendments.
read more
Source: FIN24
Bonds weaken as eurozone jitters persist
December 9, 2011--South African bonds were weaker in midday trade on Friday in line with the rand, as uncertainly over the eurozone crisis weighed on sentiment.
By 11:50, the benchmark R157 bond was trading at 6.760% from its previous close of 6.720%. The R207 was trading at 7.965% from a previous close of 7.900%. and the R186 was trading at 8.490% from its close of 8.430%.
read more
Source: FIN24
Rand follows euro stronger
December 9, 2011--The rand was firmer against the dollar in late afternoon trade on Friday as the euro rebounded against the dollar.
"The euro - and therefore the rand - is looking better but I don't know how long this will last," a local currency trader said.
"The market is still very much driven by headlines," he added.
read more
Source: FIN24
JSE ends flat
December 8, 2011--South African stocks ended flat on Thursday after bouncing off a technical resistance level and amid investor jitters ahead of a European leaders’ summit aimed at limiting a further deterioration of the euro zone’s debt crisis.
Johannesburg’s Top 40 - (Tradeable) [JSE:J200] index finished 0.08% lower at 29 283.57 and the broader All Share [JSE:J203] was flat at 32 760.17.
read more
Source: FIN24
Rand falls sharply after ECB disappoints
December 8, 2011-- South Africa rand fell sharply across the board on Thursday as the European Central Bank signalled it would not take aggressive action to deal with the region’s debt crisis, hurting investors’ appetite for riskier assets.
The rand was already weak after data showing the current account widened more than expected in the third quarter and manufacturing and mining output were weak in October.
read more
Source: FIN24
