Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand firm, dollar off highs
February 19, 2010--The rand was firm in the afternoon session on Friday as the dollar came off its earlier highs.
At 15:40 the rand was bid at 7.6743 to the dollar from 7.6586 at its previous close. It was bid at 10.3815 to the euro from its previous close of 10.3299 and was at 11.8220 against the sterling from 11.8257.
read more
The euro was bid at $1.3507 from $1.3466 previously.
Source: FIN24
Bonds firm on stronger rand
February 19, 2010--South African bonds firmed a smidgen on Friday afternoon after the rand managed to recoup some of its earlier losses.
After quite a lot of action this week, players are turning their attention to next week's data. GDP, CPI, PPI, money supply and trade data are all due for release next week. There are also some big auctions next week.
By 15:50 the short-term government R154 bond was bid at 7.110% and offered at 7.090% after closing at 7.130% on Thursday and the medium-term R157 was at 8.250% from 8.280% at its previous close. The long-term R186 was bid at 9.130% and offered at 9.100% from 9.150% previously.
read more
Source: FIN24
Rand receives Budget boost
February 17, 2010--The rand firmed 10 cents against the dollar on Wednesday afternoon after Finance Minister Pravin Gordhan delivered his maiden National Budget in parliament.
Financial services group Rand Merchant Bank described Gordhan's Budget as rand friendly, with no shift away from economic orthodoxy.
RMB analysts John Cairns and Nema Ramkhelawan noted that the South African Reserve Bank's (Sarb's) independence was reiterated, there was no mention of nationalisation, and inflation targeting remains intact.
read more
Source: FIN 24
Rangy rand holds up
February 12, 2010-- A firmer rand shrugged off a weaker euro in the morning session on Friday, trading in a tight range.
A local currency trader noted that trade could be quiet today with the US on holiday on Monday, while a firm decision on Greece is only likely on Tuesday next week.
At 08:56 the rand was bid at R7.6381 to the dollar from 7.6336 at its previous close. It was bid at R10.4513 to the euro from its previous close of R10.4491 and was at R11.9892 against the sterling from R11.9786.
read more
Source: FIN24
Short-covering firms bonds
February 12, 2010--Bonds remained a tad firmer in late trade on Friday on the back of what traders described as some pre-Budget short-covering.
A fairly steady rand in the face of a weaker euro was also helping to bolster the market.
However, trader said market was completely indifferent to the State of the Nation address, delivered by President Jacob Zuma last night.
read more
Source: FIN24
JSE down on tighter China credit
February 12, 2010--South African stocks ended firmly in the red on Friday following a swing of nearly 400 points in the afternoon on the back of credit tightening in China.
By 17:00 the JSE all share index was 0.33% weaker, with resources losing 0.21% and platinum miners dropped 1.03%. Gold miners advanced 1.25%.
Banks declined 1.33%, financials wilted 0.61%, and industrials were 0.33% softer.
read more
Source: FIN24
JSE lower amid Europe concerns
February 5, 2010--Johannesburg - South African stocks were substantially weaker for a second straight day amid negative international sentiment, with particular concern cast over European sovereign debt woes.
By 17:00 the JSE all share index was down 2.0%, with resources also giving up 1.75%, platinum miners down 3.26%, but gold miners added 1.98%. Banks were 2.97% lower, financials subsided 2.22%, while industrials were 2.13% lower.
read more
Source: FIN24
Risk aversion weakens bonds
February 5, 2010--South African bonds were marginally weaker in late trade on Friday, partly due to a spike in global risk aversion and a softer rand.
However, they were off the session's worst levels with the rand having eased a bit.
By 16:00, the short-term government R154 bond was bid at 7.220% and offered at 7.200% after closing at 7.190% on Thursday and the medium-term R157 was at 8.370% after closing at 8.340% previously. The long-term R186 was bid at 9.125% and offered at 9.095% from 9.130% previously.
read more
Source: FIN24
Rand gets a boost from US data
February 5, 2010--The rand firmed in the afternoon session on Friday, tracking a weaker US dollar amid worse than expected non-farm payrolls data in the US.
US employers cut 20 000 jobs in January, the Labour Department reported.
At 15:57 the rand was bid at R7.6622 to the dollar from R7.6506 at its previous close. It was bid at R10.5138 to the euro from its previous close of R10.5411 and was at R12.0309 against the sterling from R12.0733.
read more
Source: FIN24
JSE ends lower on profit-taking
January 29, 2010--Johannesburg ? South African near-dated futures ended lower on Friday owing to some profit-taking, but off the session's worst levels after Wall Street opened higher and posted further gains.
The near-dated Alsi contract closed 48 points, or 0.20%, lower at 24,160.
The rand was bid at R7.5156 to the US dollar soon after the local futures closed, from R7.5868 previously
read more
Source: FIN24
