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South Africa: China to Start Direct Trading Between Yuan, South African Rand
June 21, 2016--China announced Friday it will allow direct trading between the Chinese yuan and South African rand on its inter-bank foreign exchange market from Monday.
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Source: AllAfrica.com
Africa: Africa Growth Falls to 1.7 Percent
June 21, 2016--Strong GDP growth in Africa has masked disappointing productivity, according to The Institute of Chartered Accountants in England and Wales (ICAEW's) latest Economic Insight: Africa Quarter 2 report.
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Source: AllAfrica.com
Chinese stocks decline to lowest since Jan 2015
June 21, 2016--Volatility in Chinese stocks has fallen to the lowest since January 2015 as the benchmark gauge eked out gains amid a lack of trading catalysts.
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Source: FIN24
Nigeria: Banking Index Rises 11.9 Percent As Investors Swoop On Stocks
June 20, 2016--Apparently aware of the positive impact the new foreign exchange (forex) policy of the Central Bank of Nigeria (CBN) will have on the performance of banks, some investors have increased demand for banking stocks.
This development led to a gain of 8.75 per cent in the Nigerian Stock Exchange (NSE) Banking Index last week.
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Source: AllAfrica.com
JSE rally runs out of steam
June 20, 2016--Hope that Britain would vote to stay in the EU spurred global investment in riskier assets, leading to a strong rally on the JSE which lost some momentum later on.
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Source: FIN24
JSE in limbo before long weekend
June 17, 2016--The JSE has been in limbo and most indices have hardly moved, with investors not on holiday for the long weekend apparently happy not to take any firm positions.
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Source: FIN24
Rand back at pre-holiday levels after volatile Brexit trade
June 17, 2016--The rand has stabilised to pre-holiday levels after a volatile session saw the unit touch R15.53/$ on Thursday.
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Source: FIN24
SGSS selected by Coreshares for custody services
June 16, 2016--CORESHARES, a leading passive investment management business in South Africa, has retained Societe Generale Securities Services (SGSS) to provide custody services for two of its ETF funds launched in Mauritius.
Services provided by SGSS:
Global custody services including position-keeping of assets in a number of jurisdictions
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Source: Societe Generale Securities Services
JSE heading for negative territory after solid start
June 15, 2016--Most indices on the JSE seem set to end the day in negative territory after moving sideways or even downwards in late morning trade.
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Source: FIN24
Rand fragile as current account gap widens
June 15, 2016--The rand has stayed on the back foot against the dollar in early trade a day after Reserve Bank data showed a wider-than-expected current account deficit.
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Source: FIN24
