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Rand steady ahead of CPI data
February 19, 2014--The rand was steady against the dollar on Wednesday, amid hesitant trading before the release of January consumer inflation data.
The rand was at R10.8750 to the dollar at 06:14 GMT, in line with Tuesday's New York close, after retreating from a near one-month high of R10.8190 hit earlier in the week.
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Source: FIN24
The future of South Africa: seven things that need to happen
February 19, 2014--A new paper by the Institute for Security Studies (ISS), called South African Futures 2030, outlines several plausible scenarios for the country, based on the most likely implications and actions by South Africans and their leaders.
Of these, the most prosperous scenario is dubbed 'Mandela Magic'. In order for the country to be set on this pathway, seven strategic interventions are required.
The first is the reform of the state’s political institutions, Parliament in particular, to bolster accountability. Implementing the recommendations of the Van Zyl Slabbert Commission would go a long way in facilitating accountability between party leadership over rank-and-file legislative representatives, and the voters who the latter purport to represent.
view the South African Futures 2030 paper
Source: Institute for Security Studies
JSE lacks direction
February 18, 2014--Without direction from the American markets, which were closed on Monday for a public holiday, the JSE lacked direction on Tuesday morning.
The Asian markets were also mixed on Tuesday morning and a similar pattern emerged at the JSE where the All Share index was slightly down by midday, but resources were higher.
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Source: FIN24
JSE jumps as Naspers hits record
February 17, 2014--South Africa's stocks booked their highest close on record on Monday, as media group Naspers scaled new highs, propelled by a surge in Chinese internet company Tencent, in which it owns a third.
A consistent top domestic performer has been Naspers, which added 4.4% on Monday to R1 268.20 after hitting its highest point ever of R1 275 earlier in the day.
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Source: FIN24
Rand touches 3-week high
February 17, 2014--The rand hit its strongest level in nearly a month against the dollar on Monday as investors started returning to emerging markets after weeks of heavy selling.
Johannesburg stock exchange data showed offshore accounts were net buyers of South African bonds and equities last week, breaking a three-week selling streak
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Source: FIN24
IMF Working paper-Rising BRICs and Changes in Sub-Saharan Africa's Business Cycle Patterns
February 14, 2014-- Summary: This paper assesses the extent to which Sub-Saharan Africa (SSA)'s business cycle is synchronized with that of the rest of the world (RoW). Findings suggest that SSA's business cycle has not only moved in the same direction as that of the RoW, but has also gradually drifted away from the G7 in favour of the BRICs.
Trade with the BRICs turns out to be the strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy stances in SSA and the BRICs are not synchronized, they have not caused cyclical output correlation between these two groups of countries. Also, financial openness, which is at a very early stage across most SSA countries, has acted as a neutral force.
IMF Working paper-Rising BRICs and Changes in Sub-Saharan Africa's Business Cycle Patterns
Source: IMF
Resources rally, boost JSE
February 14, 2014--Share prices on the JSE regained their upward momentum of earlier the week on Friday, with resources stocks particularly strong.
The all share index closed slightly lower on Thursday when markets worldwide took a breather after strong gains earlier in the week, but by midday the index was again 0.74% higher at 46 595 points.
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Source: FIN24
Rand surges on dollar weakness
February 14, 2014--The rand was trading at three-week highs on Friday as dollar weakness helped the currency firm beyond the key R11 to the dollar level.
The rand was at R10.8700/$ at 15:22 GMT, nearly 1% stronger than Thursday's New York close, its best performance since the end of January.
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Source: FIN24
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
