Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Bonds softer in quiet trade
April 18, 2011--South African bonds were softer in late trade on Monday, mainly on the back of the weaker rand, with many players electing to remain on the sidelines ahead of the Easter weekend and inflation and retail data later this week.
By 15:45, the benchmark R157 bond was trading at 7.715% from its previous close of 7.670%, while the R207 was bid at 8.505% from 8.430%. The R186 was bid at 8.750% from its previous close of 8.685%.
The rand was bid at 6.8588 to the dollar from its previous close of 6.7944.
read more
Source: FIN24
JSE falls as S&P cuts US debt outlook
April 18, 2011-- The JSE tumbled 2.60% or nearly 840 points on Monday after Standard & Poor's (S&P) trimmed its outlook on US government debt, sparking fear among investors in SA and across the world.
"The S&P revised its outlook for US debt and said it might downgrade America," said Andrew Todd, an equity derivatives trader at Imara SP Reid. The S&P move sent shivers down investors' spines, Todd said.
read more
Source: FIN24
Bonds firm on foreign interest
April 15, 2011--South African bonds were firmer in midday trade on Friday, which a trader said was on the back of interest from offshore players.
By 11:50, the benchmark R157 bond was trading at 7.730% from its previous close of 7.770%, while the R207 was bid at 8.490%, from its previous close of 8.520. The R186 was bid at 8.745% from its previous close of 8.780%.
The rand was bid at R6.8250 to the dollar from its previous close of R6.8348.
read more
Source: FIN24
Selling pressure squeezes JSE
April 15, 2011--The JSE finished the week lower on Friday, as banks and resources bore the brunt of selling pressure.
Andrew Todd, an equity derivatives trader at Imara SP, said there was no single overriding factor that pulled the market lower.
By the close, the All Share [JSE:J203] index was down 0.59%, with resources falling 0.91%, gold miners dropping 0.63% and platinum miners easing 0.60%.
read more
Source: FIN24
Weaker euro drags down rand
April 14, 2011--The rand fell more than 1% against the dollar on Thursday to a fresh two-week low, mostly tracking sharp losses in the euro and in what traders saw as correction after a recent rally.
In afternoon trade the unit was 1.17% softer at R6.87/$ compared to Wednesday's close at R6.7910/$.
It touched R6.8750/$ earlier on Thursday, its weakest level since March 29, according to Reuters data.
read more
Source: FIN24
JSE closes on a slightly higher note
April 14, 2011--The JSE ended slightly firmer on Thursday, capping a volatile session that saw the market swing from losses to gains.
"It has been a volatile day, with futures dropping around 250 points before recouping these losses," Andrew Todd, an equity derivatives trader at Imara SP Reid, said.
read more
Source: FIN24
Bonds weaker on rand
April 13, 2011--South African bonds were mostly weaker in late trade on Wednesday, largely on the back of a softer rand. A local trader said there was a lack of support from domestic real money accounts.
By 15:58, the benchmark R157 bond was trading at 7.770% from its previous close of 7.775%, while the R207 was bid at 8.540% from its previous close of 8.515%. The R186 was trading at 8.820% from its previous close of 8.770%.
The rand was bid at R6.7663 to the dollar from its previous close of R6.7358.
JSE up modestly in lacklustre trade By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.35%, with resources rising 0.64% and gold miners firming 0.94%. Industrials were also up 0.36%. But platinum miners lost 1.15%, banks eased 0.54% and financials shed 0.26%.
read more
Gold expected to surge above $1 600 read more
JSE ends sharply lower on resources read more
Source: FIN24
April 13, 2011--The JSE ended slightly firmer in lacklustre trade on Wednesday, with investors remaining tentative as they stay focused on more earnings reports in the US.
Investors were non-committal and this indicated that the market was still on the edge, said Garth Mackenzie, an equity derivatives trader at Imara SP Reid.
Source: FIN24
April 13, 2011-- Record-breaking gold will likely surge past $1 600 per ounce for the first time later this year, driven by fears over high inflation and low global interest rates, consultancy GFMS forecast on Wednesday.
"We would not be surprised ... to see gold break through $1 600 before the end of the year," said GFMS chairperson Philip Klapwijk in the group's latest report published on Wednesday.
Source: FIN24
April 12, 2011--Resources dragged the JSE lower to close deep in the red on Tuesday. Resources across global stocks were lower for most of Tuesday on the back of weaker commodity prices.
By 17:00 local time, the JSE All Share [JSE:J203] index was 1.75% lower with resources the weakest, down 3.04%. Platinum miners fell 1.38%, while gold miners gave up 1.05%, and industrials were down 1.01%. Banks lost 0.71% and financials shed 0.63%.
Source: FIN24
