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New range of equity ETNs list on the JSE
BNP Paribas brings its Guru methodology to local investors.
March 13, 2014--French global banking group BNP Paribas entered the local exchange-traded product (ETP) space on Wednesday by listing four new exchange-traded notes (ETNs) on the JSE. It becomes the sixth issuer of this type of product in South Africa.
The four ETNs listed by the bank all provide exposure to equities in international markets. They are the Guru US ETN, Guru Europe ETN, Guru Asia ETN, and the Guru Equity World ETN, all four of which mirror the holdings of mutual funds already managed by BNP Paribas in Europe.
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Source: MoneyWeb
Rand falls to two-week low
March 12, 2014--The rand has dropped to its weakest in a fortnight against the dollar
hit as emerging market currencies came under pressure because of growth concerns in China.view more
Source: FIN24
JSE gives up early gains
March 11, 2014--Broad-based bargain hunting has given the JSE a solid start, but by lunch time the momentum was lost and most indices were marginally down.
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Source: FIN24
Rand, government bonds stable
March 11, 2014--The rand has been steady against the dollar and is likely to trade range-bound in the absence of market-moving data.
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Source: FIN24
JSE lower on China slowdown fears
March 10, 2014--South African stocks have fallen as lower than expected Chinese trade data rattled investors and raised concerns about slowing demand for commodities.
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Source: FIN24
Rand rangebound, awaits fresh impetus
March 10, 2014--The rand weakened against the dollar, but remained within its recent tight range ahead of data releases
later this week that could help give it direction.
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Source: FIN24
NSE to expand product offerings, index up 0.56%
March 10, 2014--Product offerings on the The Nigerian Stock Exchange (NSE) is set to increase, with plan to list Vetiva Griffin 30 Exchange Traded Fund this month.
Mr. Haruna Jalo-Waziri, NSE Executive Director in charge of Business Development, in a statement by the NSE said The Vetiva Griffin 30 Exchange Traded Fund (VG 30 ETF) is an open--ended fund that will be listed on the Exchange.
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Source: Daily Independent
JSE ends flat, Sanlam climbs
March 7, 2014--South African stocks ended a see-saw session virtually unchanged on Friday, pulling back from a record high set earlier in the day as investors digested the widely watched US jobs data.
But Sanlam, which posted a 39% jump in annual earnings this week, surged after several brokerages, including Barclays Capital, gave upbeat comments about its prospects.
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Source: FIN24
IMF Executive Board Concludes 2014 Article IV Consultation with Nigeria
March 7, 2014-On February 21, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Nigeria.
Real GDP is projected to grow at 6.4 percent in 2013 owing to continued strong performance in the non-oil sector. Inflation declined to 7.9 percent at year end, supported by lower food price, fiscal consolidation, and a tight monetary policy stance.
The external current account surplus fell to 3.1 percent of GDP from 7.8 percent at end-2012, but reserves remained at a comfortable 5.6 months of next year's imports, despite uncertainties about the timing of the tapering of unconventional monetary policies.
The non-oil primary deficit of the consolidated government is projected to narrow from expenditure restraint, but a shortfall in oil revenues resulted in a drawdown of the Excess Crude Account (ECA), a key fiscal buffer. Despite significant job creation, unemployment and poverty are high and social indicators lag those of peers. Continued weaknesses in labor markets, access to electricity, cost of doing business, and small and medium enterprises’ access to finance have prevented a transition to a more robust and inclusive growth path.
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Source: IMF
Rand falls after US jobs data
March 7, 2014--The rand lost ground against the dollar on Friday after stronger than expected US nonfarm payrolls data.
The rand, which reached a two--month high this week, was at R10.7250/$ at 14:52 GMT, down more than 1% from Thursday's New York close.
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Source: FIN24
