Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
JSE ends 2010 on a weaker note
December 31, 2010-- The JSE ended 2010 on a slightly negative note on Friday, with some local investors placing last-minute trades as they squared off positions before the year-end.
Markets closed at noon ahead of the New Year's Day holiday tomorrow.
Volumes were light in line with overseas equities, one trader said.
read more
Source: FIN24
Rand on a roll
December 31, 2010--The rand was slightly weaker in extremely thin noon trade on Friday.
However, the local unit retained its firm tone, looking set to end 2010 around its best levels in more than three years.
In afternoon trade the rand was bid at R6.6310/$ from R6.6074/$ at its previous close.
read more
Source: FIN24
In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland
December 30, 2010--The Southern African Customs Union (SACU) is facing its biggest challenge in its 100 years of existence. The global economic crisis has significantly reduced its revenue outlook, which is having a disproportionate impact on its smaller member countries, and which calls for an appropriate policy response.
This paper discusses specifically the implications for Botswana, Lesotho, Namibia, and Swaziland, and provides recommendations regarding the proper fiscal response by these countries to the decline in SACU revenue.
read more
Source: IMF
Bullish rand stays on form
December 29, 2010-- The rand remained steady in thin midday trade on Wednesday, although it weakened slightly against the dollar to pull back from a three-year high.
On Tuesday it hit a 37-month best level of R6.6470/$.
In thin midday trade it was bid at R6.6625/$ from R6.6671/$ at its previous close.
read more
Source: FIN24
Bonds stagnant in quiet trade
December 29, 2010-- South African bonds were flat in late trade on Wednesday, amid thin volumes and an extremely quiet session.
Not much is expected to happen this week, as markets remain thin between Christmas and New Year, with many players still on holiday.
By 15:45 the benchmark R157 bond was unchanged at 7.385%, from its previous close, while the R207 was bid at 8.220% from 8.195% at its previous close. The R186 was bid at 8.390% after closing at 8.365%.
read more
Source: FIN24
Resources boost JSE in thin trade
December 29, 2010-- The JSE closed a tad firmer in thin trade on Wednesday, with resource counters providing much of the support. Trading in equities, commodities and other markets in South Africa and worldwide is light due to the holiday season.
The dollar was slightly softer, while commodity prices were stronger, a dealer said.
At 17:00, the JSE all share index was virtually rose 0.35%, with gold miners rising 1.08%, platinum miners adding 0.68% and resources gaining 0.91%. Banks was up 0.22%, while financials (0.05%) and industrials (-0.06%) were flat
read more
Source: FIN24
SA not just another Bric in the wall
December 29, 2010-- South Africa's ascension to the Bric group of major emerging economies was more about politics than economics and reflects expectations it will be the gateway for investment in the fast-growing continent.
With a $285bn economy, a much smaller population and tepid growth of about 3%, South Africa pales in comparison to the other Bric states: Brazil, Russia, India and China.
read more
Source: FIN24
Rand stays firm and scales new high
December 28, 2010- The rand advanced to a new three-year high against a broadly weaker dollar on Tuesday and was also boosted by higher metal prices.
The rand traded at R6.6750/$ in afternoon trade, which was 1% firmer than Monday's New York close of R6.7415/$. It touched R6.6725/$, its strongest since December 2007.
read more
Source: FIN24
JSE ends flat as rand strengthens
December 28, 2010-- The JSE ended little changed in quiet trade on Tuesday, with the strong rand putting downward pressure on export-oriented stocks especially mining counters.
Kevin Algeo, portfolio manager at Imara SP Reid, said trade volumes were light, noting that there was a little bit of profit taking. Around R2.5bn in total value traded today. On average, between R12bn and R14bn is traded.
read more
Source: FIN24
Bonds close flat in pre-Xmas trade
December 24, 2010-- South African bonds were flat and mostly untraded at midday on Friday, in what a trader described as an extremely quiet session ahead of the Christmas long weekend. The bond market closed at noon ahead of the Christmas Day holiday and will reopen on Tuesday December 28th.
By 12:00 the benchmark R157 bond was unchanged at 7.400%, from its previous close, while the R207 was bid at 8.220% from 8.210% at its previous close. The R186 was bid at 8.390% after closing at 8.380%.
The rand was bid at 6.7320 to the dollar from its previous close of 6.7482.
read more
Source: FIN24
