Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Bonds, rand set for more weakness
July 4, 2013--Government bonds retreated further on Thursday while the rand drifted near the previous session's four-day lows against the dollar, with pressure on riskier assets likely to persist ahead of key US jobs data due out on Friday.
The yield on the bond due in 2026, the market benchmark, edged up one basis point to 7.955%, as did the shorter-dated 2015 paper to 6.135%.
view more
Source: FIN24
Nigeria sells $1bn bonds, Okonjo-Iweala says
July 3, 2013--The Minister of Finance, Ngozi Okonjo-Iweala, said on Wednesday that Nigeria returned to the capital market after two years of absence and sold $1 billion bond with ease.
Ms. Okonjo-Iweala said this in Abuja while briefing newsmen on the recently concluded road show in Europe and U.S. to float the billion dollar bond to international investors.
view more
Source: Premium Times
Rand dips on stronger dollar
July 3, 2013--The rand breached the psychologically important 10-to-the-dollar level on Wednesday as a stronger greenback weakened global currencies while market liquidity remained thin.
The rand was at R10.0350/$ at 08:35, nearly 0.5% weaker than its close in New York on Tuesday.
view more
Source: FIN24
Nigeria: NSE Assures Investors of Market Stability
July 2, 2013--The Nigerian Stock Exchange (NSE) has urged investors not to panic as a result of the perceived downturn in the capital market as the fundamentals remained strong.
The Head of Strategy at the Exchange, Yvonne Emordi stated this during the 2nd Technical Session for Institutional Investors organized by Investment One Financial Services Limited held in Lagos last week.
view more
Source: AllAfrica.com
JSE treading softly at the start
July 2, 2013--Despite commodity prices having picked up since Monday, the JSE was trading in negative terrain on Tuesday morning.
By early morning the all share index was down 0.11% at 39 890.03 points and the top 40 index down only -0.07%.
The spot price of gold increased by 0.91% to $1 265.10 and that of platinum was at $1 385.50.
view more
Source: FIN24
Rand, bonds slightly firmer
July 2, 2013--The rand edged up against the dollar on Tuesday, but trading is expected to be cautious ahead of US labour data due later this week and interest rate decisions by major central banks.
The unit was at R9.8960 to the dollar at 0641 GMT, 0.3% firmer than its close in New York on Monday.
view more
Source: FIN24
JSE down despite gold stock gains
July 1, 2013--The JSE was trading in negative terrain on Monday morning despite gold miners continuing their rebound amid a firmer gold price.
At 9:42 the All Share [JSE:J203] index was trading 0.60% softer at 39 341.32 points‚ with the Top 40 index giving back 0.70%.
view more
Source: FIN24
Rand's reaction to local PMI muted
July 1, 2013--The rand had a muted reaction to the release of improved activity in the local manufacturing sector as mixed factory output data from elsewhere weighed on the local currency.
“Although we had a good PMI number‚ it didn’t have much effect on the rand given the mixed data that we’ve seen from the rest of the world‚” said Warrick Butler‚ head of spot rand and emerging market trading at Standard Bank
view more
Source:FIN24
JSE recovery continues
June 28, 2013--The JSE continued its recovery on Friday morning following Thursday's gains as local and global equities benefited from revived risk appetite.
At 9:19‚ the All Share [JSE:J203] index was trading 1% higher at 39 474.66 points‚ with retailers gold miners and resources taking the lead.
view more
Source: FIN24
Rand weaker ahead of trade data
June 28, 2013--The rand was weaker across the board at noon, giving up early gains ahead of the eagerly awaited release of South African trade data at 14:00 this afternoon.
“Trade balance data could end the recent bout of rand short covering. Although the rand did enjoy some broad-based short covering on Thursday‚ it also benefited from a more risk-on global trading environment and associated weaker US dollar backdrop‚” wrote Absa Capital analysts in a note.
view more
Source: FIN24
