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Rand holds steady vs dollar
October 2, 2013--The rand was steady against the dollar on Wednesday after failing to take advantage of a struggling greenback, which has been on the back foot following the first partial US government shutdown in 17 years.
The rand was at R10.1450/$ at 08:04, barely changed
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Source: FIN24
IMF South Africa: 2013 Article IV Consultation
October 1, 2013--Summary: South Africa has made impressive strides in economic development over the past two decades. But in recent years, lower growth has exacerbated high unemployment, inequality, and vulnerabilities.
Although weak trading partner growth contributed, domestic factors were an important reason why South Africa’s growth has been below that of other emerging markets. Large current account and fiscal deficits, so far easily financed by global liquidity, have raised vulnerabilities.
view the IMF South Africa: 2013 Article IV Consultation report
Source: IMF
Nigeria: Stock Market Sustains Positive Run On Renewed Optimism
September 30, 2013--Investors in the Nigerian equities market smiled home again last week as the market recovered from the poor start at the beginning of the week to close on a stellar note.
The strong performance recorded in the last three trading days of the week was fuelled by renewed optimism.
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Source: AllAfricaNews.com
SA stocks down, track global fall
September 30, 2013-- South African stocks fell on Monday as investors cashed in on profits while worries about a looming shutdown of the United States government rattled investors globally.
A fall in the gold price also weighed on bullion shares such as Sibanye Gold and Gold Fields.
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Source: FIN24
Rand weakens, trade data eyed
September 30, 2013--The rand weakened against the dollar on Monday and weaker-than-expected trade data and the lack of a resolution to the debt ceiling impasse in the United States could put it under further pressure.
The rand was at R10.1450/$ 08:51, down 0.7% from its close in New York on Friday.
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Source: FIN24
Absa Capital wins regulatory approval for South African palladium ETF
September 29, 2013--South Africa's Absa Capital has received regulatory approval for its planned Johannesburg-listed palladium exchange-traded fund and hopes to launch the product by the end of the year, a spokesman for Absa said on Sunday.
The fund will be backed exclusively by palladium sourced in South Africa, Absa's head of investments Vladimir Nedeljkovic said on Sunday on the sidelines of the London Bullion Market Association's annual conference
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Source: Reuters
Behind the JSE run
September 27, 2013--What do Peroni beer, Cartier watches and Chinese online games have in common? Very little, except that all three are behind the South African stock market's gravity-defying run in recent years.
Since recovering from the 2008 financial crisis, stocks in Africa's biggest economy have blithely weathered all kinds of bad news-strikes, sputtering growth, credit downgrades and waning consumer demand-to notch up a string of record highs.
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Source: FIN24
Rand falls as Amplats strike weighs
September 27, 2013--South Africa's rand retreated 1 percent on Friday to a two-week low against the dollar, weighed down by the start of a strike at Anglo American Platinum's (Amplats) mines.
The rand hit a session low of 10.1700/$, its lowest since September 6. By 14:30 GMT, it was trading at R10.0970, 1.02% softer than its R9.9950 New York close on Thursday.
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Source: FIN24
Nigeria: NSE Proposes New Rules to Protect Investors
September 27, 2013--The Nigerian Stock Exchange (NSE) has proposed new rules aimed at protecting investors and attracting more participation in the nation's capital market.
Titled 'Rules and Regulations Governing Dealing members (Amendments and additions)', the NSE has asked operators to review the rules and make appropriate contributions before they are harmonised and submitted to the Securities and Exchange Commission (SEC) for approval. The new rules regarding investors, if approved, will mandate stockbroking firms to adopt a Know-Your-Clients (KYC), clients' management procedures and to render monthly financial statements to clients.
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Source: AllAfrica.com
JSE edges down after record run
September 26, 2013--South African stocks took a breather from their record run on Thursday, edging down in line with emerging market peers that lost the last of their post-Fed gains as global attention switched to a battle over the US budget.
Gold producer AngloGold Ashanti was one of the few bright spots on the bourse, adding 1.5% to R134.12 as bullion's spot price inched up on views that a possible US government shutdown next week will buff up gold's tarnished safe-haven status.
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Source: FIN24
