Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
JSE slips to December lows
February 27, 2013--- The JSE slipped to its lowest level since December 31 on Wednesday amid broad-based selling, bucking the generally positive international market trend.
At 12:02 the All Share [JSE:J203] index was 1.10% weaker at 39 131.30 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 1.20%.
view more
Source: FIN24
Bonds focus on budget, ignore rand
February 27, 2013--The South African bond market was a touch firmer in midday trade on Wednesday ahead of the 2013 budget due to be delivered in Parliament at 14:00. Dealers said the market was ignoring the weaker rand.
“There seems to be some demand from offshore that has led to a firmer bias‚ but volumes remain light ahead of the budget‚” a local bond trader said.
view more
Source: FIN24
Italian stalemate drags JSE down
February 26, 2013--The JSE was on the back foot again on Tuesday, after a brief reprieve on Monday, with resources and banking counters the hardest hit, while platinum and gold stocks managed to close in positive territory, but only just.
Global markets were pulled down on the stalemate in the Italian elections.
At 17:00 the local bourse closed 0.55% lower at 39 568.28 points‚ with the top 40 dipping 0.92%.
view more
Source: FIN24
Banks, platinums lead JSE firmer
February 25, 2013--Relatively strong demand for banking and platinum shares pushed the JSE above the 40,000-point level as the South African bourse looked to recover from last week's heavy losses.
At 12:36 the All Share [JSE:J203] index was 0.89% higher at 40 011.77 points‚ with the Top 40 - (Tradeable) [JSE:J200] index recovering 0.96% at 35 589.88 while the banking and platinum indices regained 1.26% and 1.32% respectively.
view more
Source: FIN24
Bonds tad firmer on stronger rand
February 25, 2013--The South African bond market was a touch firmer in quiet midday trade on Monday on a slightly stronger rand.
“The rand is slightly stronger‚ which is helping our bonds‚ but there is not much in it‚ as the GDP data on Tuesday and budget on Wednesday will determine the market’s direction‚” a local bond trader said.
view more
Source: FIN24
Growing Dollarisation of Nigerian Economy Raises Dust
January 24, 2013--The concern raised by the House of Representatives over the gradual adoption of the US dollar for transaction in the country has caught the attention of money market watchers who fear the development may erode the confidence of Nigerians in the Naira, reports Festus Akanbi
From Oke-Koto in Agege, a suburb of Lagos, to other boisterous areas of the state including Apapa, Allen Avenue and Murtala Mohammed International Airport, Ikeja, it has been business as usual for the ubiquitous foreign exchange black marketers.
They noted that their projection was based on stability in fixed income securities and stable outlook for the financial services markets. view more
JSE has biggest one-day fall for 2013 view more
Source: All Africa.com
February 21, 2013--The JSE experienced its biggest one-day fall since January 2 on Thursday, shedding almost 2% on the day, after a wide selloff in commodities across the world was extended from Wednesday, putting the JSE and other global markets firmly in risk-off mode.
The selloff was triggered by growing investor concerns after news on Wednesday that the third round of US quantitative easing (QE3) could end earlier than expected‚ which would reduce liquidity levels‚ which have benefited commodity prices and global markets of late.
Source: FIN24
