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Ethiopia aims for stock exchange by 2020
February 26, 2019--Ethiopia has set itself a tight timetable for economic reform, including privatization of telecoms by the end of 2019 and a domestic stock exchange by 2020. A World Bank team was due to arrive in Addis Ababa in December to provide technical help to develop the capital market.
Last week Financial Times repeated the timetable in an interview with Prime Minister Abiy Ahmed, given to FT Editor Lionel Barber and Africa Editor David Pilling, billed his first one-on-one international media interview. Prime Minister Abiy told them: "My economic model is capitalism… If you give me $100bn now, I can"t use it. There is not only money, there is talent and experience. That's why we need the private sector."
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Source: africancapitalmarketsnews.com
JSE closes softer as miners struggle
February 25, 2019--The JSE got off to a lukewarm start for the week despite other global equity markets rallying on news that Donald Trump had postponed the date for increasing tariffs on Chinese imports.
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Source: FIN24
Markets WRAP: Rand closes at R13.84/$
February 25, 2019--This after TreasuryONE said in a morning note to clients that the rand opened firmer this morning as news that President Donald Trump had delayed the date for the imposition of new tariffs on Chinese imports buoyed markets.
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Source: FIN24
NSE partners with market stakeholders, launches Mutual Funds trading platform
February 22, 2019--The Nigerian Stock Exchange ("the Exchange" or "NSE") in conjunction with Fund Managers Association of Nigeria (FMAN); Association of Stockbroking Houses of Nigeria (ASHON) and The Central Securities Clearing System (CSCS) Plc has launched the NSE Mutual Fund Trading and Distribution Platform on February 22, 2019 at the NSE in Lagos.
The Mutual Fund trading platform will bring together market participants to facilitate electronic transactions with seamless interaction between NSE, CSCS Plc, Fund Managers and Brokers Dealers. Investors will have the benefit of a single view of their mutual fund investment and ease a variety of transactions like subscription, redemption, cancellation etc.
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Source: The Nigerian Stock Exchange
JSE eases as global sentiment remains tentative
February 21, 2019--The ongoing trade talks between the USA and China continue to dominate global market sentiment, and this was more evident today with the release of Manufacturing PMI data from key markets such as Germany, the Eurozone and the USA.
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Source: FIN24
TECHNICAL ANALYSIS: JSE Gold Index-important breakout
February 21, 2019--The JSE Gold index has broken out of an almost two-year sideways range and has a significantly higher target in place now.
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Source: FIN24
Markets WRAP: Rand closes at R14.14/$
February 19, 2019--TreasuryONE said earlier that the rand was likely to remain under pressure as all eyes turn to Finance Minister Tito Mboweni's Budget address tomorrow.
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Source: FIN24
Markets WRAP: Rand closes at R14.13/$
February 18, 2019--TreasuryONE said earlier that the rand was likely to remain under pressure this week with the lead up to the Budget speech on Wednesday.
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Source: FIN24
JSE manages gains after a lukewarm trading session
February 15, 2019--European equities bared no brunt from the Asian trading session as all the major bourses advanced on the back of progress in the US-China trade talks
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Source: FIN24
Markets WRAP: Rand closes at R14.12/$
February 15, 2019--TreasuryONE said earlier that the rand weakened sharply against major currencies on Thursday on continued concern over Eskom and the potential further fallout.
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Source: FIN24