Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Bonds remain firm on strong rand
March 14, 2011--South African bonds retained their firmer bias in late trade on Monday on the back of a strong rand.
By 15:45, the benchmark R157 bond was trading at 7.840% from its previous close of 7.870% while the R207 was bid at 8.770% from its previous close of 8.780%. The R186 was trading at 8.980 from a close of 8.985%.
The rand was bid at 6.8847 to the dollar from its previous close of 6.9005.
read more
Source: FIN24
Earthquake in Japan keeps JSE shaky
March 14, 2010--The JSE closed sharply down on Monday as investors digested the potential impact of the Japanese earthquake, tsunami and subsequent aftershocks.
Platinum stocks were worse hit because car manufacturers in Japan have stopped production, reducing the demand for the white metal, Kevin Algeo, portfolio manager at Imara SP Reid, said.
read more
Source: FIN24
Bonds remain better bid in quiet trade
April 11, 2011--South African bonds remained better bid in quiet late trade. The R157s were flat, while the R207s were a few points firmer.
By 3.50pm, the benchmark R157 bond was trading flat at 7.870% from its previous close, while the R207 was trading at 8.770% from its previous close of 8.800%. The R186 was trading at 9.000% from a close of 8.985%.
The rand was bid at R6.9364/$ from its previous close of R6.9142/$.
read more
Source: FIN24
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
