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West Africa: Integration of West African Capital Markets Excites Operators
February 13, 2014--Capital market operators from Nigeria and Ghana Wednesday expressed enthusiasm and excitement over the efforts to integrate the West African capital markets, saying it will bring many benefits to all stakeholders.
The brokers spoke to THISDAY in Lagos during the sensitisation workshop organised by the West Africa Capital Market Integration Council (WACMIC), the body saddled with the task of facilitating the integration process.
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Source: allAfrica.com
JSE eases as Gold Fields sinks
February 13, 2014--South African stocks ended in the red on Thursday, giving up some of the previous session's strong gains, with Gold Fields blazing the downhill trail as it took a $672m write-down because of the steep fall in the bullion price.
Gold Fields' shares fell 5.2% to R40.93 after it posted a slight quarterly rise in normalised earnings as production rose but investors focused on the impairment.
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Source: FIN24
Rand gives up gains, stays above R11/$
February 13, 2014--The rand has slipped against the dollar after failing to sustain gains made the previous day.
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Source: FIN24
JSE ticks up, Discovery shines
February 12, 2014--South African stocks ended higher on Wednesday as shares of Discovery climbed after the health insurer said it expected higher half-year earnings while resource companies surged on higher gold prices.
Shares of Discovery climbed 4.2% to R77.93, its biggest daily percentage jump in seven months.
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Source: FIN24
Rand stable vs dollar
February 12, 2014--The rand held steady against the dollar on Wednesday after closing above the key R11.000/$ level the previous day, but struggled to make significant gains.
The rand was at R10.9725/$ at 15:08 GMT, little changed from Tuesday's New York close, though it had earlier hit a session high of R10.9300/$.
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Source: FIN24
JSE falls slightly as retailers weigh
January 11, 2013--South African stocks ended slightly weaker on Tuesday, snapping a three-day winning streak, with retailers among the worst performers on worries about consumer spending and high personal debt levels.
JD Group fell the most on the bourse after the credit-based furniture retailer warned that it was likely to report profit loss due to bad debts. Its shares fell 6.3% to R25.40.
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Source: FIN24
Rand fails to consolidate data-driven gains
February 11, 2014--The rand strengthened on Tuesday on upbeat economic data, breaching 11 to the dollar, but it could not hold on to the gains.
The rand was trading at R11.0080/$ at 15:36 GMT, 1% firmer than Monday's New York close. It had lost some ground after reaching R10.9700/$ earlier in the session.
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Source: FIN24
JSE extends gains, precious producers shine
February 10, 2014--South African stocks have gained for the third straight session, led by gold and platinum producers as the price of both precious metals cruised higher.
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Source: FIN24
Strikes keep rand on the ropes
February 10, 2014--The rand has recorded one of the steepest losses in a basket of emerging market currencies as investors refocused on strikes and protests bedevilling the economy.
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Source: FIN24
JSE ticks higher but Harmony falls
February 7, 2014--South African stocks added 0.8% on Friday, buoyed by US data that soothed some concerns about the health of the world's top economy, but shares of Harmony Gold fell after a mining accident.
Harmony's shares fell 2.8% to R28.95, after the gold producer stopped all its operations for a 24-hour safety shift following an rock-fall and fire that killed at least eight workers, the worst mining in South Africa in five years.
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Source: FIN24
