Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Marcus: Sarb has kept rand in check
June 14, 2011--The South African Reserve Bank will continue to accumulate foreign reserves to tame the strength of the rand despite running up a financial loss over the last year, Governor Gill Marcus said on Tuesday.
"The reserve bank is not for profit. We take decisions in the interest of the country and the exchange rate is important in terms of its impact," Marcus said, adding that the bank did not target a specific level for the rand.
read more
Source: FIN24
Bonds retain weak sheen in late trade
June 13, 2011--South African bonds remained in weak territory during late trade on Monday, largely on the back of the softer local currency. A trader noted that the market was quiet and volumes were thin.
By 15:50, the benchmark R157 bond was trading at 7.490% from its previous close of 7.470%. The R207 was bid at 8.305% and offered at 8.275% from 8.275% and the R186 was trading at 8.520% and offered at 8.505% from 8.495%.
read more
Source: FIN24
Flat JSE remains nervous
June 13, 2011-- The JSE erased earlier losses before closing flat on Monday, with bargain-hunting and global corporate deals failing to calm investors, who remained concerned about the worsening global economic prospects.
The big sell-off in equities last week saw key indices globally, including the JSE all-share index, break through technical support levels, said Kevin Algeo, portfolio manager at Imara SP Reid. Stability has returned and investors are looking for bargains, Algeo said.
read more
Source: FIN24
JSE, world stocks slide on global gloom
June 10, 2011--South African stocks slid more than 1% on Friday, dragged down by resource firms such as platinum producer Lonmin [JSE:LON], and the rand was also weaker against the dollar mainly on global risk aversion.
The JSE Top-40 index of blue chips fell 1.76% to hovering near the key support level of 28 000 which it has failed to breach three times since mid-March. The All-Share [JSE:J203] index lost 1.49%.
read more
Source: SEC.gov
Bonds drift weaker in quiet trade
June 10, 2011-- South African bonds were up to six basis points weaker in quiet late trade on Friday, as the weaker rand continued to weigh on the market. Traders noted that trade had been very thin and there was not much in the way of news to offer fresh direction.
By 15:50, the benchmark R157 bond was trading at 7.435% from its previous close of 7.410%. The R207 was bid at 8.245% and offered at 8.240% from 8.185% and the R186 was trading at 8.480% and offered at 8.465% from 8.420%.
Bonds remain weak but off worst levels read more
JSE higher despite mixed US data read more
JSE slides on Bernanke comments read more
Rand edges lower on global gloom read more
JSE closes up on bargain-hunting read more
Source: FIN24
June 9, 2011--South African bonds retained their weaker sheen in late afternoon trade on Thursday, which a trader said was on the back of the marginally softer local currency.
By 15:50, the benchmark R157 bond was trading at 7.410% from its previous close of 7.400%. The R207 was trading at 8.802% from 8.160% and the R186 was trading at 8.440% from 8.400%.
Source: FIN24
June 9, 2011--The JSE ended with modest gains on Thursday after a trading session dominated by US economic data, which gave mixed signals.
Mining stocks, gold producers in particular, posted strong gains in part due to bargain-hunting and firmer oil prices, said Drikus Combrinck, portfolio manager at PSG Konsult.
Source: FIN24
June 8, 2011--The JSE closed lower on Wednesday, led on the downside by mining counters as US Federal Reserve chairman Ben Bernanke's comments kept the local and most international equities under pressure.
The relatively strong rand also helped dampen the mood, hitting commodity stocks hard, an equity trader said.
Source: FIn 24
June 8, 2011--The rand fell against the dollar on Wednesday as importers bought foreign exchange, with bonds following suit and stocks also weakening again on continued worries about the global economic outlook.
The unit was off one-month highs of R6.6750/$ hit on Monday, and was seen rangebound as market players are hesitant to take significant positions given the uncertainty about the global recovery
Source: FIN24
June 7, 2011--The JSE ended stronger on Tuesday as investors embarked on bargain-hunting, indicating that the market is oversold.
The market overreacted to bad US economic data, especially US housing and unemployment figures, said Drikus Combrinck, portfolio manager at PSG Konsult. Investors were hunting for bargains, he said, adding that the strong rand limited gains.
Source: FIN24
