Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Risk aversion weakens bonds
February 5, 2010--South African bonds were marginally weaker in late trade on Friday, partly due to a spike in global risk aversion and a softer rand.
However, they were off the session's worst levels with the rand having eased a bit.
By 16:00, the short-term government R154 bond was bid at 7.220% and offered at 7.200% after closing at 7.190% on Thursday and the medium-term R157 was at 8.370% after closing at 8.340% previously. The long-term R186 was bid at 9.125% and offered at 9.095% from 9.130% previously.
read more
Source: FIN24
Rand gets a boost from US data
February 5, 2010--The rand firmed in the afternoon session on Friday, tracking a weaker US dollar amid worse than expected non-farm payrolls data in the US.
US employers cut 20 000 jobs in January, the Labour Department reported.
At 15:57 the rand was bid at R7.6622 to the dollar from R7.6506 at its previous close. It was bid at R10.5138 to the euro from its previous close of R10.5411 and was at R12.0309 against the sterling from R12.0733.
read more
Source: FIN24
JSE ends lower on profit-taking
January 29, 2010--Johannesburg ? South African near-dated futures ended lower on Friday owing to some profit-taking, but off the session's worst levels after Wall Street opened higher and posted further gains.
The near-dated Alsi contract closed 48 points, or 0.20%, lower at 24,160.
The rand was bid at R7.5156 to the US dollar soon after the local futures closed, from R7.5868 previously
read more
Source: FIN24
Bonds perk up as rand gains
January 29, 2010--Bonds had perked up a little by the end of the week on improved sentiment after the week's key rates meeting and as the rand showed a little mettle.
By 16:00 the short-term government R154 bond was bid at 7.230% after closing at 7.280% on Thursday and the medium-term R157 was yielding 8.370% after closing at 8.430% previously. The long-term R186 was bid at 9.185% from 9.175%.
read more
Source: FIN24
Rand a tad firmer on US GDP
January 29, 2010--The rand firmed a fraction in the afternoon session on Friday amid a US GDP figure which came in well above market expectations.
At 15:59 the rand was bid at R7.5497 to the dollar from R7.6006 at its previous close. It was bid at R10.5463 to the euro from its previous close of R10.6042 and was at R12.1221 against the sterling from R12.2515.
read more
Source: FIN24
Nationalisation talks knock JSE
January 26, 2010--Johannesburg - South African stocks ended firmly in the red on Tuesday tracking global sentiment, and on the back of local political calls for the ANC to discuss nationalising the Reserve Bank.
Commodity prices are also weaker, while The South African Reserve Bank's (Sarb's) Monetary Policy Committee (MPC) on Tuesday decided to keep the repo rate unchanged at 7.0%, thereby having very little impact on the local bourse.
read more
Sourec: FIN24
JSE dragged down by world stocks
January 22, 2010--South African stocks ended firmly in the red on Friday largely in line with weaker international markets.
President Barack Obama's proposal to limit size of banks and risks they can take, news of more policy tightening from China, and Greece's fiscal position all weighed on the local bourse.
By 17:00 the JSE all share index had dropped 1.55%, with resources down 1.49%, gold miners off 1.44% and platinum miners 2.12% weaker. Banks declined 2.28%, financials were off 1.87% and industrials moved 1.45% lower.
read more
Source: FIN 24
Rand tracks weaker dollar
January 22, 2010--The rand eased in the afternoon session on Friday tracking a softer US dollar which continued to react to President Barak Obama's proposed banking reforms.
At 15:39 the rand was bid at R7.6011 to the dollar from R7.5653 at its previous close. It was bid at R10.7469 to the euro from its previous close of R10.6661 and was at R12.2412 against the sterling from R12.2483.
The euro was bid at $1.4134 from $1.4098 previously.
A href="http://www.fin24.com/articles/default/display_article.aspx?ArticleId=1518-2385-2396_2568807" TARGET="_top">read more
Source: FIN24
Bonds weaken a tad on rand
January 22, 2010--Bonds weakened a little during the afternoon session on Friday after the rand gave back a fair amount of ground.
By 15:55 the short-term government R154 bond was bid at 7.465% after closing at 7.370% on Thursday and the medium-term R157 was yielding 8.530% after closing at 8.520% previously. The long-term R186 was at 9.250% from 9.205% before.
read more
Source: FIN24
Citadel Capital to invest $400m in East Africa
January 17, 2010--Egyptian investment firm, Citadel Capital, has revealed plans to invest up to $400m over the next two years in Kenya, Uganda and Tanzania.
'East Africa's appealing natural competitive advantages - including fast-growing consumer markets and large workforces - fit perfectly with our time-proven strategy of turning national players into regional champions,' Citadel's Chairman and founder, Ahmed Heikal said.
Source: AME Info
