Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
JSE firms, investors scoop bargains
March 11, 2011--The JSE recovered on Friday as beaten down stocks enticed investors to search for bargains, brushing aside an earthquake in Japan, political turmoil in the Middle East and north Africa, and concerns over downbeat economic news.
At the close, the JSE all-share index had risen 0.89%, with resources stocks gaining 1.02%, platinum miners edging up 1.99% and gold counters firming 1.83%. Banks were up 0.95%, financials picked up 0.40% and industrials advanced 0.99%.
read more
Source: FIN24
Bonds weaker in midday trade
March 10, 2011--South African bonds were weaker in midday trade on Thursday. A local trader said the market had "too much" paper
By 11:50, the benchmark R157 bond was trading at 7.865% from its previous close of 7.855%, while the R207 was bid at 8.805% from its previous close of 8.755%. The R186 was trading at 8.960% from 8.965%.
The rand was bid at 6.8900 to the dollar from its previous close of 6.8406.
read more
Source: FIN24
Risk aversion extends JSE losses
March 10, 2011-- The JSE extended losses in midday trade on Thursday, with platinum and resources stocks leading the downside amid risk aversion.
China's surprising trade deficit, the Spanish government debt downgrade and ongoing political tension in Libya weighed on investor sentiment, said Mpho Mojalefa, dealer with BJM Private Client Services.
read more
Source: FIN24
Resources, risk aversion weigh on JSE
March 9, 2011-- The JSE ended in the red on Wednesday as a result of some risk aversion and recent pressure on resource counters.
At the close, the JSE all-share index was down 0.02%, with resource stocks sliding 0.79%, platinum miners edging up 0.42% and gold counters adding 0.96%. Banks were up 0.01%, while financials gained 0.03% and industrials added 0.72%.
The rand was bid at 6.86 to the dollar from 6.91 at the JSE's close on Tuesday
read more
Source: FIN24
Longer-dated bonds firm in quiet trade
March 8, 2011--- South African longer-dated bonds were firmer in quiet late trade on Tuesday, which a trader attributed to good demand in the longer area of the curve.
By 15:50, the benchmark R157 bond was trading at 7.935% from its previous close of 7.910%, while the R207 was trading at 8.790% from its previous close of 8.780%. The R186 was trading at 8.975% from 9.000%.
The rand was bid at 6.9141 to the dollar from its previous close of 6.8730.
read more
Source: FIN24
Africa’s $107 billion banking set for growth, study finds
MArch 8, 2011--Africa's $107 billion financial services industry will log impressive growth for the rest of the decade as more banks target the continent’s emerging middle class, a study by consultancy Bain & Company found.
Retail banking will see the biggest growth, and will account for nearly 40 percent of the continent’s banking revenue by 2020, helped by rapid adoption of mobile phone banking, Bain said in the study released ahead of next week’s Reuters Africa Investment Summit. The opportunities and challenges presented by this bourgeoning African market will be addressed by executives, investors and politicians at the summit, being held March 7-10 in Johannesburg, Nairobi and Lagos.
read more
Source: Todays Zaman
Strong dollar fuels JSE sell-off
March 8, 2011--The JSE closed sharply lower on Tuesday as risk-aversion prompted the dollar to strengthen, dragging down commodity prices and hitting mining stocks. The resource index dropped to about 2.5%.
Commodity prices were lower in dollar terms due to the appreciation of the greenback, Kevin Algeo, portfolio manager at Imara SP Reid, said.
At the close, the JSE all-share index was down 1.46%, with resource stocks sliding 2.54%, platinum miners dropping 1.63% and gold counters falling 0.79%. Banks lost 0.32%, financials were down 0.15% and industrials slipped 0.94%.
read more
Source: FIN24
JSE lower amid Libyan unrest
March 8, 2011--The JSE opened modestly weaker on Tuesday, weighed down by negative sentiments arising from persistent political unrest in the Middle East and north Africa, as well as high oil prices.
The rand remained strong, with major indexes showing mixed performances, a trader said.
By 09:24 local time, the JSE all share index was down a slight 0.16%, with resources falling 0.46% and gold counters declining 0.46%. But platinum miners added 0.10%. Banks were 0.45% higher and financials rose 0.34%, but industrials shed 0.11%.
read more
Source: FIN24
JSE ends flat, pares some losses
March 7, 2011--The JSE closed little changed on Monday, recouping earlier losses thanks to foreign fund inflows and possible futures-related trading ahead of a futures close-out next week.
By 09:19 local time, the benchmark index had lost 0.70%. Despite recouping some of the earlier losses, there were lingering concerns about the crisis in Libra and rising oil prices, an equity derivatives dealer said.
read more
Source: FIN24
Rand hits 7-week high against dollar
March 7, 2011--The rand hit a seven-week high to the dollar on Monday and longer-dated bonds firmed as supply worries eased after Finance Minister Pravin Gordhan promised to be “prudent” on new issuance.
Gordhan said at the Reuters Africa Investment Summit that the government was committed to a stable fiscal framework and would cut budget deficits as planned.
read more
Source: FIN24
