Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
JSE down after day of profit-taking
November 29, 2011--The JSE ended the day in negative territory as investors sought to reap the benefits of recent gains.
A local trader said: "It's been a busy day if one looks at the volumes."
He said today's trade was mainly profit-taking at work. Concerning news had affected markets, however, in the form of rising Spanish and Italian bond yields which were nearing 8%
read more
Source: FIN24
Bonds mostly firmer after GDP
November 29, 2011--South African bonds were mostly firmer in midday trade on Tuesday, which a trader said was on the back of the lower than anticipated GDP figure. The R186s were a touch weaker.
Stats SA said SA's real gross domestic product (GDP) at market prices on a quarter-on-quarter (q/q) seasonally adjusted annualised (saa) basis rose by 1.4% in the third quarter of 2011 from 1.3% in the second quarter.
read more
Source: FIN24
SA's GDP rises, but growth stunted
November 29, 2011--South Africa’s economic growth came in less than expected at 1.4% in the third quarter of 2011 on a seasonally adjusted and annualised basis, compared with a 1.3% rise in the second quarter, data showed on Tuesday.
On an unadjusted year-on-year basis, economic growth was at 3.1% from an upwardly revised 3.2% in the second quarter.
read more
Source: FIN24
Eurozone hopes buoy JSE, global stocks
November 28, 2011--South African stocks booked their biggest daily gain in a month on Monday, tracking global equity markets on hopes that eurozone leaders would come up with new measures to resolve the region’s debt crisis.
The JSE blue-chip Top 40 - (Tradeable) [JSE:J200] index gained 2.53% to 28 472.34, the highest closing level since November 18 and the biggest percentage gain in a month. The broader All Share [JSE:J203] index was up 2.27% to 31 829.34.
read more
Source: FIN24
Rand rallies, but surge may be shortlived
November 28, 2011--The rand gained as much as 2.3% against the dollar on Monday in what traders said was a temporary correction after last week’s battering to 30-month lows.
Government bonds also rallied, and benchmark yields fell as much as 10 basis points although investors are likely to trade cautiously ahead of credit, money supply and gross domestic product data this week which should give pointers on the direction of monetary policy in the short term.
read more
Source: FIN24
ANC sends back nationalisation document
November 28, 2011--The nationalisation document was presented to the ANC's National Executive Committee (NEC) at the weekend but was sent back for additions.
Secretary general of the ANC Gwede Mantashe hinted on Monday that not enough case studies from other countries were presented.
The ANC's task team investigating nationalisation has "almost finished its work", party spokesperson Jackson Mthembu told I-Net Bridge on Friday.
read more
Source: FIN24
JSE lower, eurozone fears weigh
November 25, 2011-- South African stocks ticked lower on Friday to close the week over 2 percent weaker as fears spread that euro zone leaders would continue to differ over how to stem contagion from the region’s debt crisis.
Johannesburg’s gold mining index slipped 1.2% as bullion prices followed a weak euro lower. South Africa’s fourth-largest gold miner Gold Fields eased 1.5 percent to 130.57 rand.
Spot gold was last indicated at $1,696.25 an ounce at 1543 GMT, down 0.1 percent on the day, having recovered from a session low of $1,671.59.
read more
Source: FIN24
Rand weaker, tracks euro against dollar
November 25, 2011--The rand continued to lose ground in midday trade on Friday, tracking the weaker euro against the US dollar on the back of the euro area debt woes.
Mark Kalkwarf, senior portfolio manager at Iquad Group, said sovereign debt troubles seemed intractable, with investors in the region concerned about France potentially getting into financial difficulties.
At 11:46 local time, the rand was bid at 8.5401 to the dollar from its previous close of 8.4744. It was bid at 11.3404 to the euro from 11.3101 before, and at 13.2099 against sterling from 13.1273 previously
read more
Source: FIN24
Bonds under pressure in noon trade
November 25, 2011--South African bonds were up to 18 basis points weaker in midday trade on Friday, as they tracked the rand amid dampened sentiment on the back of the eurozone debt crisis.
A trader said: "It looks like there are issues around Europe again, Hungary was downgraded - the rand's weakening. It's hard to say where we're going given how volatile the market is," a trader said.
By 11:50, the benchmark R157 bond was trading at 7.150% from its previous close of 6.970%. The R207 was bid at 8.205% and offered at 8.285% from a previous close of 8.130% and the R186 was trading at 8.680% from its close of 8.650%.
read more
Source: FIN24
Sierra Leone’s Economy May Grow 50% in 2012 as Deficit Slows
November 25, 2011--Sierra Leone may reduce its budget deficit next year as the start of iron-ore production propels its economic growth rate to one of the fastest in the world, said Finance Minister Samura Kamara.
Growth is seen at 50 percent next year and 10 percent in 2013 and 2014, he told lawmakers in Freetown, the capital, today. Excluding iron ore, the expansion may be 6 percent each year, Kamara said.
read more
Source: Bloomberg Business Week
