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Bonds take strain on offshore sales
January 13, 2011-- South African bonds were up to 8 basis points weaker in late trade on Thursday on the back of 'substantial' offshore selling.
By 15:30, the benchmark R157 bond was trading at 7.480% from its previous close of 7.415%, while the R207 was trading at 8.260% from its previous close of 8.260%. The R186 was trading at 8.510% from 8.415%.
The rand was bid at 6.8346 to the dollar from its previous close of 6.8118.
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Source: FIN24
Resources help JSE defy slide
January 13, 2011-- The JSE finished firmer on Thursday, with the local bourse outperforming its global counterparts thanks to local resources, which bolstered the market. London's FTSE, Paris's CAC and Wall Street, which normally give local investors direction, were last trading in negative territory.
At 17:00 local time, the JSE all share index was up 0.46%, with platinum rising 1.56% and resources jumping 0.96%. But gold miners, the only losers for the day, fell 0.45%. Banks firmed 0.47% and financials inched up 0.25%, while industrials were relatively flat (0.06%).
The rand was trading at 6.81 to the dollar from 6.83 at the JSE's close on Wednesday.
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Source: FIN24
Resources push JSE to firmer close
January 12, 2011--The JSE gave up some gains but ended firmer on Wednesday, with resources stocks gaining flavour on the back of high commodity prices. With the exception of gold stocks, other mining counters made solid gains.
The Portuguese bond auction, which seemed to have gone smoothly, also boosted sentiments and reduced fears, said Andrew Todd, an equity derivatives trader at Imara SP Reid.
In midday trade, the JSE all share index was 1.27% higher.
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Source: FIN24
BSE prepares for second ETF listing
January 12, 2011--The Botswana Stock Exchange (BSE) expects to host the listing of the country's second Exchange Traded Fund (ETF) as early as February, marking further growth of an asset class that debuted on the local bourse last July.
Nedbank Capital's BettaBeta ETF exactly replicates the FTSE/JSE Equally Weighted Top 40 Index, which comprises 40 of the largest and most prominent companies listed on the JSE. The list of blue chip companies is re-assessed every quarter to make sure that it is always reflective of the "best of the best."
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Source: Mmegionline
Emerging Africa Expected To See Rise in Investment
Africa's new trading partners seeking direct investment opportunities
Asset managers looking for countries that inspire investor confidence
Coherent macroeconomic policy, foreign exchange regimes vital
January 12, 2011--Having demonstrated resilience during the global financial crisis, Africa’s emerging market countries have good prospects for 2011.
Foreign direct investment, particularly from Africa’s new trading partners in Asia, is expected to strengthen and demand for African bonds is set to increase.
Such diversification of financing sources for much-needed public investment would be welcome, but would also require a coherent macroeconomic policy and foreign exchange regime to cope with capital flow surges, especially if they have historically been prone to debt problems.
More private capital ahead
Advanced-industrial-country policy measures, albeit needed to shore up their own growth prospects, have led to historically low yields and, in some cases, significant increases in public debt. These trends, coupled with strong growth prospects in many emerging markets, have led investors to look further afield.
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Source: IMF
Easing euro-zone fears boost JSE
January 11, 2011-The JSE rallied on Tuesday as newfound optimism about the European sovereign debt crisis helped bolster confidence on the local bourse. Anglo American [JSE:AGL] and BHP Billiton [JSE:BIL], among other resources, led the market higher.
Sentiments improved and uncertainty eased after Japan said it planned buy euro-zone government bonds this month, a trader said. Global equities also rose strongly after the news.
At 17:00 local time, the JSE all share index was up 1.46%, with platinum surging 3.01%, resources rising 1.72% and gold miners gaining 1.63%.
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Source: FIN24
Bonds take strain on back of rand
January 10, 2011--South African bonds were up to 11 basis points weaker in late trade on Monday, on the back of a markedly weaker rand.
By 15:30 local time the benchmark R157 bond was trading at 7.355% from its previous close of 7.240%, while the R207 was bid at 8.210% from its previous close of 8.085%. The R186 was bid at 8.350% from 8.225%.
The rand was bid at 6.8547 to the dollar from its previous close of 6.7799.
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Source: FIN24
Euro-zone debt woes weigh on JSE
January 10, 2011--The JSE sank on Monday on the back of a combination of consolidation and renewed concerns over European debt woes.
The market could be consolidating following strong runs in the past few months, a trader said, noting that domestic share such as retailers and banks had all edged lower.
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Source: FIN24
Council lauds SA's Bric invite
January 10, 2011--- SA's invitation to join the Bric group of countries (Brazil, Russia, India, China) is an affirmation of its role in the world economy and will boost trade and investment, the International Marketing Council (IMC) said on Monday.
"It can expect to boost investment and trade opportunities for the country, as it has done for the other four states comprising the informal grouping," the council said.
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Source: FIN24
Bonds a tad firmer after US jobs data
January 7, 2011--After being weak for most of Friday's session, South African bonds were slightly firmer in late trade, after worse than expected US jobs data.
By 15:45 local time the benchmark R157 bond was trading at 7.230% from its previous close of 7.240%, while the R207 was bid at 8.090% from its previous close of 8.065%. The R186 was bid at 8.240% from 8.215%.
The rand was bid at 6.8074 to the dollar from its previous close of 6.7880.
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Source: FIN24
