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JSE follows world markets higher
March 6, 2013--The JSE opened the Wednesday session in positive territory, amid a global risk-on environment, with retailers leading the upside after recent losses and only gold counters pulling on the downside.
At 9:37am the JSE was 0.18% firmer at 40‚618.57 points. General retailers added 0.59% while gold counters gave back 0.92%.
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Source: FIN24
Bonds firm, eyeing rand
March 6, 2013--The South African bond market was firm in midday trade on Wednesday, but dealers said the next leg of the rally depended on a stronger rand.
“We had some overnight foreign buy orders to fill this morning‚ but the market has traded sideways since the early morning move. Now we wait to see if the rand can go back below R9 per US dollar‚” a local bond trader said.
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Source: FIN24
JSE stronger as investors bargain hunt
March 5, 2013--The JSE was stronger at midday on Tuesday with all of the main indices in the black after being hard hit on Monday.
Gold was the exception‚ with the sector giving up 0.66% at midday.
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Source: FIN24
Bonds firm after auction
March 5, 2013--The South African bond market was firmer in midday trade on Tuesday after a well-received auction.
Dealers said the new producer price index (PPI) had no effect as it was the first in the new series.
“We had a good auction and that changed sentiment in the market‚ even if the rand is off its best level‚” a local bond trader said.
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Source: FIN24
SA mining policies dent image-report
March 5, 2013--A survey has revealed that uncertainty about South Africa's mining policies is hurting the country's image and ranking as a mining investment destination, Business Day reported on Tuesday.
In the survey, which was conducted by the Canada-based Fraser Institute, South Africa scored lower than last year in terms of its policy and mineral potential, the newspaper reported.
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Source: FIN24
JSE down on global sentiment
March 4, 2013--The JSE lost further value on Monday following global markets lower after China introduced new measures to curb property prices, which will have a negative affect on Chinese growth prospects.
This led to lower commodity prices worldwide‚ which weighed on the local bourse.
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Source: FIN24
Rand a tad stronger
March 4, 2013--The rand was fractionally stronger at midday on Monday but continued to struggle generally against major currencies following the release of poor trade figures last week.
Weaker manufacturing data out of China‚ coupled with and a move to slow their property value growth to prevent a property bubble‚ also contributed to the rand’s overall weakness.
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Source: FIN24
Africa's Food Markets Could Create One Trillion Dollar Opportunity by 2030
March 4, 2013--Africa's farmers and agribusinesses could create a trillion-dollar food market by 2030 if they can expand their access to more capital, electricity, better technology and irrigated land to grow high-value nutritious foods, and if African governments can work more closely with agribusinesses to feed the region's fast-growing urban population, according to a new World Bank report launched today.
According to the Growing Africa: Unlocking the Potential of Agribusiness report, Africa’s food systems, currently valued at US$313 billion a year from agriculture, could triple if governments and business leaders radically rethink their policies and support to agriculture, farmers, and agribusinesses, which together account for nearly 50 percent of Africa’s economic activity
view World Bank report-Growing Africa-Unlocking the Potential
of Agribusiness
Source: World Bank
KPMG-Nigeria Among World's Four Major Investment Destinations
March 4, 2013--Nigeria has been ranked as one of the four major investment destinations and growth areas in the world.
According to KPMG, one of the world's foremost audit, financial and tax advisory firms, Nigeria's newfound status followed the disappointing returns recorded by the BRICS, with the exception of China.
BRIC was the term coined by Goldman Sachs' economist, Jim O'Neill in 2001, to symbolise the emerging global economic powerhouses of Brazil, Russia, India and China. The term was later expanded to BRICS to accommodate South Africa.
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Source: AllAfrica.com
Rand-hedge stocks support the JSE
March 1, 2013--The JSE closed the Friday session firmer with rand-hedge stocks keeping the local bourse above the 40 000-point level after the rand lost substantial value due to weaker-than-expected trade deficit data that was released on Thursday.
Locally industrials‚ financials and banking stocks lead the JSE firmer‚ while gold miners and resources weighed.
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Source: FIN24
