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African Bank fund for green energy
March 29, 2011--The African Development Bank (AfDB) has established a $57m fund for renewable energy projects across the continent, the bank's chief sector specialist said on Tuesday.
The Denmark-backed Sustainable Energy Fund for Africa joins two other similar green energy funds in the region worth $6bn being run by the AfDB and twelve non-African donor countries.
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Source: FIN24
SA pledges to meet green energy targets
March 29, 2011-- South Africa will accelerate its renewable energy programme to meet a target of producing 10 000 gigawatt hours by 2013, an energy official said on Tuesday.
South Africa is struggling to meet fast-rising demand for power. State-owned utility Eskom has said supply would remain tight until 2015, and especially over the next two years.
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Source: FIN24
Ex-dividend shares weigh on JSE
March 28, 2011-The JSE ended lower on Monday as some of the Top 40 - (Tradeable) [JSE:J200] shares, such as MTN Group [JSE:MTN], Anglo American [JSE:AGL], The Bidvest Group [JSE:BVT] and FirstRand [JSE:FSR], went ex-dividend.
At its close, the JSE All Share [JSE:J203] index fell 0.69%, with gold counters dropping 1.12%, platinum miners sliding 2.58% and resources shedding 1.05%. Industrials fell 0.70% and banks lost 0.20%, while financials were flat (-0.09%).
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Source: FIN24
Bonds weaker in late trade
March 28, 2011--South African bonds were a bit weaker in quiet lacklustre trade late on Monday, mainly on the back of a softer local currency
By 15:50, the benchmark R157 bond was trading at 7.750% from its previous close of 7.745%, while the R207 was trading at 8.000% from its previous close of 8.605%. The R186 was trading at 8.915% from its previous close of 8.900%.
The rand was bid at 6.8665 to the dollar from its previous close of 6.8450.
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Source: FIN24
Bonds little changed in late trade
March 25, 2011-- South African bonds were little changed from overnight levels in late trade on Friday, amid a flat rand.
By 15:30, the benchmark R157 bond was trading at 7.740% from its previous close of 7.750%, while the R207 was bid at 8.625% from its previous close of 8.610%. The R186 was bid at 8.910% from its previous close of 8.890%.
The rand was bid at 6.8488 to the dollar from its previous close of 6.8681.
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Source: FIN24
Weaker-JSE-snaps-four-day-rally
March 25,2011-The JSE snapped a four-day winning streak, closing lower on Friday as investors took profits off the table following strong recent gains.
Gold counters fell following speculative buying, Kevin Algeo, portfolio manager at Imara SP Reid, said. The major theme for the day was the rand, which was significantly stronger, especially against the pound, he said.
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Source: FIN24
Gold fever rubs off on JSE
March 24, 2011--The JSE ended firmer on Thursday, with gold counters leading the upside and global markets adding to the upbeat spirit.
At its close, the All Share [JSE:J203] rose 1.38%, with gold counters jumping 4.10%, platinum miners rising 1.36% and resources collecting 1.51%.
Industrials gained 1.40%, financials picked up 0.63% and banks firmed 0.75%.
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Source: FIN24
Bonds firm on rand, ignore MPC
March 24, 2011-- South African bonds were firmer in late trade on Thursday, mainly on the back of a stronger local currency. As largely expected the Monetary Policy Committee (MPC) kept the repo rate on hold at 5.5%.
By 15:50, the benchmark R157 bond was trading at 7.740% from its previous close of 7.790%, while the R207 was trading at 8.670% from its previous close of 8.640%. The R186 was bid at 8.895% from its previous close of 8.910%.
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Source: FIN24
Bargain-hunting props up JSE
March 23, 2011--The JSE was surprisingly strong at noon on Wednesday, with Anglo American [JSE:AGL] and BHP Billiton [JSE:BIL] leading the upside as they benefited from the broad-based bargain hunting.
"I did not expect the market to gain more than 1% today. It has surprised a lot of people," said Andrew Todd, an equity derivatives trader at Imara SP Reid, adding that the market expected a flat day.
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Source: FIN24
Bonds firm in late trade
March 23, 2011--South African bonds were up to five basis points firmer in late trade on Wednesday as market focus turned toward the Monetary Policy Committee (MPC) meeting and the expected decision on interest rates by Reserve Bank governor Gill Marcus due on Thursday.
By 15:50, the benchmark R157 bond was trading at 7.790% from its previous close of 7.830%, while the R207 was trading at 8.655% from its previous close of 8.710%. The R186 was trading at 8.880 from its previous close of 8.930%.
The rand was bid at 6.9101 to the dollar from its previous close of 6.9029
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Source: FIN24
