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JSE gives up early gains
March 11, 2014--Broad-based bargain hunting has given the JSE a solid start, but by lunch time the momentum was lost and most indices were marginally down.
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Source: FIN24
Rand, government bonds stable
March 11, 2014--The rand has been steady against the dollar and is likely to trade range-bound in the absence of market-moving data.
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Source: FIN24
JSE lower on China slowdown fears
March 10, 2014--South African stocks have fallen as lower than expected Chinese trade data rattled investors and raised concerns about slowing demand for commodities.
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Source: FIN24
Rand rangebound, awaits fresh impetus
March 10, 2014--The rand weakened against the dollar, but remained within its recent tight range ahead of data releases
later this week that could help give it direction.
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Source: FIN24
NSE to expand product offerings, index up 0.56%
March 10, 2014--Product offerings on the The Nigerian Stock Exchange (NSE) is set to increase, with plan to list Vetiva Griffin 30 Exchange Traded Fund this month.
Mr. Haruna Jalo-Waziri, NSE Executive Director in charge of Business Development, in a statement by the NSE said The Vetiva Griffin 30 Exchange Traded Fund (VG 30 ETF) is an open--ended fund that will be listed on the Exchange.
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Source: Daily Independent
JSE ends flat, Sanlam climbs
March 7, 2014--South African stocks ended a see-saw session virtually unchanged on Friday, pulling back from a record high set earlier in the day as investors digested the widely watched US jobs data.
But Sanlam, which posted a 39% jump in annual earnings this week, surged after several brokerages, including Barclays Capital, gave upbeat comments about its prospects.
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Source: FIN24
IMF Executive Board Concludes 2014 Article IV Consultation with Nigeria
March 7, 2014-On February 21, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Nigeria.
Real GDP is projected to grow at 6.4 percent in 2013 owing to continued strong performance in the non-oil sector. Inflation declined to 7.9 percent at year end, supported by lower food price, fiscal consolidation, and a tight monetary policy stance.
The external current account surplus fell to 3.1 percent of GDP from 7.8 percent at end-2012, but reserves remained at a comfortable 5.6 months of next year's imports, despite uncertainties about the timing of the tapering of unconventional monetary policies.
The non-oil primary deficit of the consolidated government is projected to narrow from expenditure restraint, but a shortfall in oil revenues resulted in a drawdown of the Excess Crude Account (ECA), a key fiscal buffer. Despite significant job creation, unemployment and poverty are high and social indicators lag those of peers. Continued weaknesses in labor markets, access to electricity, cost of doing business, and small and medium enterprises’ access to finance have prevented a transition to a more robust and inclusive growth path.
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Source: IMF
Rand falls after US jobs data
March 7, 2014--The rand lost ground against the dollar on Friday after stronger than expected US nonfarm payrolls data.
The rand, which reached a two--month high this week, was at R10.7250/$ at 14:52 GMT, down more than 1% from Thursday's New York close.
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Source: FIN24
Strong results encourage JSE investors
March 6, 2014-The JSE resumed its upward momentum on Thursday morning after Wednesday's profit taking. All the major indices were up, led by the gold index.
By midday the All-share index was 122,95 points or 1.26% higher at 47 638 and the Top 40-index 108,50 or 0.25% stronger at 43 061. Both indices are now close to new records.,
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Source: FIN24
Rand hits two-month highs
March 6, 2014--The rand firmed against the dollar on Thursday, taking direction from a stronger euro and shrugging off the first rolling blackouts to hit the economy in six years.
The single currency, buoyed by the European Central Bank's (ECB) decision to keep interest rates on hold, traded at its highest level against the dollar since late December.
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Source: FIN24
