Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand tracks stronger euro
October 4, 2011--The rand reversed earlier losses in late trade on Tuesday after the euro, which the local currency frequently tracks, staged a turnaround.
At 18:00 local time, the rand was trading at 8.3013 to the dollar from its previous close of 8.2837. It was trading at 11.0159 to the euro from 10.9271 before, and at 12.7623 against sterling from 12.7787 previously.
The euro was at US$1.3279 from US$1.3192 before.
read more
Source: FIN24
Economics of cocoa
October 4, 2011--To get an idea how emerging markets are reshaping global consumption patterns, look no further than the cocoa bean.
Hundreds of millions of new consumers in Asia and elsewhere are boosting demand for chocolate cakes, biscuits, drinks and ice cream. This is increasing demand for cocoa, but it is also changing the cocoa market.
When a cocoa bean is processed it makes roughly equal parts butter and powder. The butter goes into melt-in-your-mouth products, as well as soaps and cosmetics. The powder is used in cakes, biscuits and drinks
read more
Source: FIN24
JSE tracks world markets down
October 3, 2011-- The JSE was down over 1% in early trade in Monday, taking its cue from weak global markets as sentiment once again turned sour on continued concerns over the Greek debt crisis.
By 09:12 local time, the JSE All Share [JSE:J203] index had dropped 1.16%, with banks and industrials 1.48% lower. Financials lost 1.32%.
Platinum miners shipped 1.27%, with resources down 0.73%, but gold stocks improved 0.45%.
read more
Source: FIN 24
Bonds firm slightly in quiet trade
October 3, 2011--South African bonds were slightly firmer in midday trade compared with the morning, but data reports in the afternoon may have an effect.
By 12:19, the benchmark R157 bond was trading at 6.970% from its previous close of 6.985%. The R207 was bid at 8.250% and offered at 8.235% from a previous close of 8.260%. The R186 was at 8.610% from its close of 8.600%.
read more
Source: FIN24
Rand tracks euro weaker over European debt
October 3, 2011-- The rand tracked the euro weaker in midday trade on Monday as doubts over Greece's ability to manage its debt weighed.
A local currency trader said that "not much" was happening on the data front on Monday to drive forex markets, but that the European Central Bank statement later this week would be of interest. He said they were looking at a range of between R8.05 and R8.15 for the rand against the dollar.
At 11:48 local time, the rand was bid at 8.0799 to the dollar from its previous close of 8.1046. It was trading at 10.7984 to the euro from 10.8060 before, and at 12.5518 against sterling from 12.6048 previously.
read more
Source: AME Info
Botswana's economy recovers
October 3, 2011--- Diamond-rich Botswana's economy rebounded in the second quarter with 9.6% growth compared to the previous three months, despite an eight-week strike by public workers, the government said Monday.
The economy had contracted by 2.2% in the first three months of the year, but a sharp increase in construction and mining powered a rebound from April to June, the Central Statistics Office said.
Compared to the second quarter of 2010, the economy grew by 12.4%.
read more
Source: FIN24
Stocks end gloomy quarter on sour note
September 30, 2011--South African blue-chip stocks booked their worst quarterly performance since the second quarter of 2010 on Friday, as concerns about the eurozone debt crisis sent shares down 7.6% in the July-September period.
The Top 40 - (Tradeable) [JSE:J200] index of blue-chips finished the day down 0.11% at 26 375.82, as steep losses in luxury goods maker Richemont and other heavyweights outweighed a rise in gold miners.
The broader All Share [JSE:J203] index finished the day down 0.05% at 29 674.20.
read more
Source: FIN24
Bonds track rand weaker
September 30, 2011--South African bonds weakened further during midday play on Friday, as the market traded long after a spate of foreign selling this week and a poor auction on Tuesday. A local trader noted that the weaker rand was also weighing.
By 11:50, the benchmark R157 bond was trading at 7.010% from its previous close of 6.880%. The R207 was bid at 8.290% and offered at 8.280% from a previous close of 8.155% and the R186 was trading at 8.670% from its close of 8.510%
read more
Source: FIN24
Rand slides against dollar
September 30, 2011--The rand came under pressure in afternoon trade on Friday, off nearly 2% at its intraday worst figure of 8.15 against the greenback before making a slight recovery.
A local dealer noted choppy trade as investors looked at "fixing" positions ahead of month end, and quarter end. "The rand has come under some pressure today. The 8.00 level is a psychological number but we really need to see the rand break through its recent worst levels to get exciting." He noted that the euro was also under some pressure
read more
Source: FIN24
JSE punished by risk aversion, PPI data
September 29, 2011-- South African stocks ended lower for a second straight session after choppy trade on Tuesday as investors fled emerging markets and worse-than-expected producer inflation figures hit banks.
Johannesburg’s banking index closed a volatile session 3.2% lower, with Standard Bank the biggest loser, dropping 3.6% to R92.65.
“We had some PPI numbers which were a lot worse than expected,” said Nick Kunze, head of dealing at BJM Private Clients.
read more
Source: FIN24
