Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand, JSE hit by weak eurozone growth
August 16, 2011--The rand fell as much as 1.9% against the dollar on Tuesday, weighed down by a weak growth outlook for the country’s main trading partner bloc and showing the worst performance among its emerging market peers.
Stocks fell for the first time in four sessions on Tuesday, after downbeat economic data in Germany sparked profit-taking but gold miners rallied as bullion prices cruised higher.
The rand weakened to R7.1985/$ before clawing back some ground to R7.1294/$ in early evening trade, still down 1.2% from Monday’s close
read more
Source: FIN24
Bonds boosted by foreign buying
August 16, 2011--South African bonds maintained their firmer bias and were up to 12 basis points firmer in late trade on Tuesday as offshore interest buoyed the market.
Earlier, a trader noted that eurozone debt pressures had directed foreigners to safe haven bonds.
By 15:50, the benchmark R157 bond was trading at 6.835% from 6.925% at the previous close. The R207 was trading at 7.875% from 7.970% and the R186 was trading at 8.210% from 8.315%.
The rand was bid at 7.1270 against the dollar from its previous close of 7.0618.
read more
Source: FIN24
JSE tracks global markets firmer
August 15, 2011--The JSE stocks remained relatively firmer in midday trade on Monday in line with main global equities.
By 12:00 local time, the JSE All Share [JSE:J203] index had added 0.53%, with platinum miners adding 0.66%, resources up 1% but gold miners shed 0.79%.
Banks eased off 0.34%, financials edged down 0.13% and industrials rose 0.46%.
read more
Source: FIN24
Bonds firmer on short-covering
August 15, 2011--South African bonds were firmer in midday trade on Monday, which a trader attributed to some short covering.
Short covering activity is positive for prices as it means short sellers had to purchase securities to close out short sales.
read more
Source: FIN24
Rwanda: Financial System Stability Assessment
August 12, 2011--EXECUTIVE SUMMARY
1. Rwanda was little affected by the global financial crisis but, like its neighbors in East Africa, is in the process of transition towards a more modern, competitive, open and inclusive financial system. Following the 2005 FSAP, significant progress has
been made in restructuring and modernizing the financial sector and its legislative and regulatory framework, in the context of an extensive Financial Sector Development Plan (FSDP).
2. The National Bank of Rwanda (BNR) is now the sole regulator and supervisor
for the entire financial sector, except securities markets. By law it is granted
independence in its operations and conduct of policy, though some aspects of its independence could be reinforced. Beyond the legal amendments, the BNR has improved
its supervisory practice, conformed more to international best practices, strengthened enforcement, and taken intervention actions deliberately. The BNR still has capacity constraints and can further strengthen some of its regulations and supervisory processes.
view Rwanda: Financial System Stability Assessment
Source: IMF
JSE ends firmer, but off day's highs
August 12, 2011--JSE shares ended firmer on Friday for the second straight session, lifted by better than expected US retail sales data.
By 17:00 local time, the JSE All Share [JSE:J203] index ended 1.14% firmer at 29 826.40 points, led by resources up 1.58%, platinum miners added 0.86% but gold miners fell 2.20%.
Banks picked up 1.69%, financials were 1.31% firmer and industrials were 0.79% stronger.
read more
Source: FIN24
Bonds mixed in midday trade
August 12, 2011--South African bonds were mixed in midday trade on the back of some profit-taking in the market.
A local trader also said that more locals were back supporting the market.
By 11:43, the benchmark R157 bond was trading at 6.965% from 6.990% at its previous close. The R207 was bid at 7.990% and offered at 7.960% from 7.970% and the R186 was trading at 8.320% from 8.310%
read more
Source: FIN24
Profit taking, rand, weigh on bonds
August 12, 2011--South African bonds were weaker in late trade on Friday, which a trader said was on the back of the softer rand and some profit taking weighing on the local market.
By 15:50, the benchmark R157 bond was trading at 6.990% from 6.990% at its previous close. The R207 was bid at 8.025% and offered at 7.995% from 7.970% and the R186 was trading at 8.320% from 8.310%.
The rand was bid at 7.1841 against the dollar from its previous close of 7.1851.
read more
Source: FIN24
JSE off best level ahead of US data
August 11, 2011--The JSE came back slightly from morning highs, but remained in positive territory by midday on Thursday. A trader said there was mild nervousness ahead of US initial jobless data set to be released at 14:00.
By 12:05 local time, the JSE All Share [JSE:J203] index had added 0.35%, resources were up 0.65%, platinum miners added 0.33%, and gold miners gained 0.60%.
read more
Source: FIN24
Bonds weaker in late trade
August 11, 2011--After recent strong gains, South African bonds were up to 13 basis points weaker in late trade on Thursday, on the back of some profit taking.
By 15:50, the benchmark R157 bond was trading 6.990% from 6.900% at its previous close. The R207 was bid at 7.980% and offered at 7.950% from 7.845% and the R186 was trading at 8.330% from 8.200%.
The rand was bid at 7.2659 against the dollar from its previous close of 7.2752.
read more
Source: FIN24
