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Rand pulls back from rally
September 11, 2013--The rand weakened against the dollar on Wednesday, extending losses prompted by worse-than-expected current account data in the previous session and pulling yields on government debt higher.
The South African Reserve Bank (Ssrb) released poor current account data on Tuesday, showing a widening trade account the economy continued to import more than it exports.
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Source: FIN24
China data boosts JSE
September 10, 2013--The JSE was in positive territory after lunchtime on Tuesday.
The Top 40 Index was up 1.56% at 38 904 points and the All Share Index rose 1.37% to 43 357.
The industrial index climbed the most and was 1.69% at 49 302.
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Source: FIN24
Rand weakens on current account jitters
September 10, 2013--The rand weakened against the dollar early on Tuesday as investors fretted about upcoming current account data for the second quarter.
At 06:46 GMT, the rand was at R9.9850 per dollar, 0.35% weaker than its close in New York on Monday.
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Source: FIN24
Stocks down as banks fall on ex-dividend
September 9, 2013--South African stocks fell slightly on Monday after leading financial shares such as Barclays Africa Group and Standard Bank took a knock from trading ex-dividend, or without the right to the latest dividend payout.
But mining shares such as AngloGold Ashanti [JSE:ANG] and Harmony Gold [JSE:HAR] rose as employees ended a strike in the sector over wages.
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Source: FIN24
Rand retreats, eyes current account data
September 9, 2013--The rand pulled back against the dollar on Monday after strong gains in the previous session and could extend losses this week if the country's current account deficit widens more than expected.
The ever-present threat of strikes will also keep investors wary about the outlook for the economy, which has been beset by often violent wage-related union unrest, with more than 60 people killed in labour strife since last year.
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Source: FIN24
SEC, NSE Tasked on Investor Education
September 9, 2013--The Securities and Exchange Commission (SEC) and Nigerian Stock Exchange (NSE) have been urged to intensify investor sensitisation and education so as to create necessary atmosphere for the growth and development of the capital market.
The President, PEARL Awards Nigeria, Mr. Tayo Orekoya, who made this call, while speaking on the forthcoming 2013 PEARL Awards in Lagos last week, noted the market had started a steady recovery from the doldrums of previous years and had the potential to once again become the toast of investors.
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Source: This Day Live
Gold, platinum counters weigh on JSE
September 6, 2013--The gold and platinum indices were down 0.29% at 1 368 points and 0.13% at 1 482 points respectively by lunchtime trade on Friday, dragging the all share index down 0.28% at 42 676 points
The Top 40 index was down 0.29% at 38 290 points.
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Source: FIN24
Rand steady vs dollar, gold strike may be over
September 6, 2013--The rand held steady against the dollar early on Friday on hopes of a resolution to a strike in the gold sector, although the currency looked unlikely to make strong gains ahead of US jobs data.
The rand was trading at R10.2200 per dollar at 06:44 GMT, slightly firmer than a R10.2350 close in New York on Thursday.
Market players are waiting to hear whether a revised wage offer in the gold sector, where 80 000 workers have downed tools since Tuesday, could end the strike much sooner than expected.
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Source: FIN24
South Africa: Brics to Set Up U.S.$100 Billion Reserve Fund
September 6, 2013--The leaders of the BRICS (Brazil, Russia, India, China and South Africa) group of influential emerging economies have agreed to create a US$100-billion pool of currency reserves to serve as a buffer against financial shocks.
South Africa, being the smallest of the five economies, will contribute $5-billion (R51-billion) to the contingency reserve arrangement, as it is known, which will help BRICS member countries to fund current account deficits, among other things.
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Source: AllAfrica.com
South Africa: Stock Exchange Ranked #1 in Regulation of Securities Exchanges
September 6, 2013--After a year of bearish commentary on South Africa's economy, following waves of industrial strike action and negative ratings outlook on its sovereign debt, it's great to see its securities exchange and financial markets still producing a world-class performance.
South Africa has again been ranked first out of 148 countries for regulation of securities exchanges for the fourth consecutive year by the World Economic Forum (WEF) Global Competiveness Report.
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Source: AllAfrica.com
