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JSE kicks off 2014 with another record
January 3, 2014--South African stocks kicked off 2014 with another record close on Thursday, as investors snapped up precious metal producers such as AngloGold Ashanti and Impala Platinum, betting they had fallen too far last year.
Other companies with significant exposure to overseas markets, such as e-commerce firm Naspers and luxury goods maker Richemont remained in favour, helped by nagging concerns about lacklustre growth.
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Source: FIN24
Nigeria: 2013 - Stock Investors Await Bounteous Harvest
January 1, 2014--Recovery in the Nigerian stock market continued in 2013, with a growth of over 40 percent.
When the Nigerian stock market recorded a growth of 34.5 per cent in 2012, not many investors and operators joined in the celebrations that greeted the positive performance. To some, it was too early to celebrate that the market had fully recovered from the crash it suffered in 2008.
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Source: AllAfrica.com
Rand slips against dollar
December 31, 2013--The rand fell as much as 1.4% against the dollar on Tuesday and was on track for one of the steepest global losses for 2013, after a year in which labour strife weighed on investor sentiment.
The rand was trading at R10.5630/$, down 1.37% from Monday's close at R10.4200/$.
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Source: FIN24
JSE edges towards new high after record 2013
December 31, 2013--The JSE will be open for a half day on Tuesday before closing for the holiday, after stocks edged up nearly 1% on Monday to close near a lifetime high.
Investors snapped up blue chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year.
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Source: FIN24
Dow edges to new record
December 31, 2013--The Dow Jones Industrial Average kicked off a holiday-shortened week on Monday with a new record high, even as the other two indices stalled in sluggish trade.
At the closing bell, the Dow jumped 25.62 (0.16%) to 16,504.03, its fourth record close in the last five sessions
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Source: FIN24
New Pacts Ease Path Toward East African Single Currency
Agreements outline ten-year roadmap toward monetary union
Greater integration should sustain economic growth, boost efficiency
Payments system expected to speed cross-border payments, promote trade
December 30, 2013--Moves toward deeper economic integration among the countries of the East African Community (EAC)-Burundi, Kenya, Rwanda, Tanzania, and Uganda-have gained new impetus from agreements sealed in recent weeks.
The signing of a Monetary Union Protocol by community heads of state in Kampala, Uganda, on November 30 is a milestone outlining a ten-year roadmap toward monetary union. The formal launch of the East African Cross Border Payment System on November 25 is a significant operational step increasing monetary and economic integration.
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Source: IMF
No new year boom for JSE
December 30, 2013--The new year might start on a less festive note for the JSE, with most analysts and market commentators predicting a rather lacklustre year after strong gains made in 2013.
The week that was
Shares had a jolly time during the week of Christmas festivities and major indices ended Friday within spitting distance of their recent record highs. The Top-40 index gained around 2% on Friday alone as most shares continued the stronger trend of the last week or so.
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Source: FIN24
SA stocks rise on global rally
December 27, 2013--South African stocks jumped more than 2% on Friday, gaining for the seventh straight session and coming within sight of lifetime highs on the back of a record run in global markets.
The gains were across the board with Africa's top bullion producer AngloGold Ashanti the biggest advancer among blue chips, adding more than 5 percent.
Rand slides to 3-week lows
December 27, 2013--The rand slid more than 1% to a 21-day low against the dollar on Friday as political turmoil in Turkey made investors nervous about high-yielding but riskier emerging market assets.
Government bonds were not spared from the sell-off, with the yield for the benchmark 2026 note adding three basis points to 8.185% while that for the 2015 paper was up 2.5 basis points to 6.08%.
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Source: FIN24
SA stocks rise again
December 24, 2013--South African stocks put in a sixth straight day of gains on Tuesday in a shortened Christmas Eve session as renewed appetite for risk brought the market closer to life highs reached last month.
Among gainers, Blue Label Telecoms, which provides pre-paid cellular airtime, added 2.3% to R8.10 after the company said one of its units had acquired a data provider for around $30m (about R306.6m) that will open new channels for the distribution of its products and services.
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Source: FIN24
