Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Bonds remain firm on rand and CPI
February 16, 2011--South African bonds remained firm in in late trade on Wednesday on the back of a stronger rand and a relief rally after CPI data came in better than market expectation.
By 15:50, the benchmark R157 bond was trading at 7.770% from its previous close of 7.800%, while the R207 was bid at 8.470% from its previous close of 8.480%. The R186 was trading at 8.620% from 8.640%.
The rand was bid at 7.2807 to the dollar from its previous close of 7.3169.
read more
Source: FIN24
Resources pull down JSE
February 16, 2011--The JSE finished lower on Wednesday, dragged down by heavy-weight resources stocks, especially BHP Billiton [JSE:BIL]. The benchmark all-share index lost just over 280 points, with resource index dropping close to 2%.
"BHP Billiton, Anglo American JSE:AGL] and Sasol [JSE:SOL] pulled the entire benchmark index down," said Kevin Algeo, portfolio manager at Imara SP Reid
read more
Source: FIN24
Côte d'Ivoire Government Takes Control Of Regional Securities Exchange
February 16, 2011--The Côte d'Ivoire Government has taken on February 9, 2011 a measure of requisition of the Regional Council for Public Savings and Financial Markets, the regional securities exchange and central depository / Settlement Bank to preserve the smooth functioning of financial institutions.
The measure puts these structures under the Ministry of Economy and Finance. Consequently any decision concerning them other than those emanating from the Cote d'Ivoire Government are null and void.
Strict instructions were given to those responsible for these structures to ensure continuity of service.
The Government would like to ressure the investors, issuers, intermediation and management companies, custodian banks and all stakeholders of the Chartered Financial market that all technical and practices decisions have been taken for the effective resumption of the trading activities, settlement and execution of events on the values of Wednesday, February 16, 2011.
Source: African Capital Market News
Bonds treading water ahead of CPI
February 15, 2011--South African bonds were a touch firmer in late trade on Tuesday after a relatively well-bid auction earlier in the day. A local trader said the market was treading water ahead of key CPI (consumer price index) figures, which are due to be released on Wednesday.
By 15:50, the benchmark R157 bond was trading at 7.800% from its previous close of 7.805%, while the R207 was trading at its previous close of 8.480%. The R186 was bid at 8.655% from its previous close of 8.660%.
The rand was bid at 7.2899 to the dollar from its previous close of 7.2708.
read more
Source: FIN24
Poor economic data weigh on JSE
February 15, 2011--The JSE posted modest losses on Tuesday as global sentiments dampened the mood.
Globally, disappointing economic data from the US retail sales, China's inflation data and euro-zone gross domestic product figures were the main reasons for a mild sell-off on the local exchange, said Kevin Algeo, portfolio manager at Imara SP Reid.
read more
Source: FIN24
Bonds stay firm on improved sentiment
February 14, 2011-- South African bonds were firm in late trade on Monday, largely on the back of improved global risk sentiment following the resignation of Egypt's president, Hosni Mubarak last Friday.
By 15:50, the benchmark R157 bond was trading at 7.800% from its previous close of 7.830%, while the R207 was trading at 8.430% from its previous close of 8.485%. The R186 was trading at 8.650% from 8.675%.
The rand was bid at 7.2737 to the dollar from its previous close of 7.2660.
read more
Source: AME Info
JSE firmer after hitting record
February 14, 2011--The JSE closed slightly firmer on Monday, pulling back a bit after reaching a record high earlier in the day.
Andrew Todd, a derivatives trader, said the local market experienced a "bout of short covering", which pushed the market to record highs.
read more
Source: FIN24
Bonds follow rand weaker
February 11, 2011-- South African bonds drifted weaker in quiet late trade on Friday as a softer rand weighed on the bond market.
The rand has weakened on the back of a strong dollar and a sell-off in emerging market equities.
read more
Source: FIN24
JSE rebounds as miners take lead
February 11, 2011--The JSE rallied on Friday, ending the week on a positive note as platinum stocks led the local bourse higher.
Softer global stock markets failed to dampen the upbeat spirit.
The weak rand provided support to the mining counters, Kevin Algeo, portfolio manager at Imara SP Reid, said. The local currency hit the lowest point in nearly six months against the dollar on the back of geopolitical
read more
Source: FIN24
Africa Holds Potential to Lead Global Growth in Next Two Decades
February 9, 2011--Following the global financial crisis, African economies quickly rebounded, giving the continent the opportunity to become a global growth pole in a mulitpolar world, the World Bank said. To do this, African countries need to sustain macroeconomic reforms and implement business friendly policies that are indispensable for attracting investors
“African governments must walk the talk of reform,” said World Bank Vice President for the Africa Region Obiageli Ezekwesili in an interview with the BBC on the sidelines of the 16th Session of the African Union summit.
“They must also ensure that the macroeconomic stability attained over the past decade does not unravel,” Ezekwesili added. “The continent must ensure that current improvements in the business and policy environment continue and that reforms in the energy, agriculture, tourism, infrastructure and basic service delivery sectors are sustained.”
Africa, she explained, has the potential to be a growth pole for many sectors. Agriculture, tourism, real estate, financial and banking services, and transport can all replicate the enormous success of Africa’s Information and Communication Technologies (ICT) revolution.
read more
Source: World Bank
