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Rand steadies, bonds weaken
July 12, 2013--The rand traded close to its overnight levels against the dollar early on Friday and looked set to tread a narrow range for the day in the absence of market-moving domestic or global data.
Government bonds edged slightly weaker and yields inversely ticked up in a market widely expecting South Africa's Reserve Bank to keep the benchmark repo rate on hold at its bi-monthly policy meeting next week.
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Source: FIN24
Namibia: Gold Opens NSX Alternative Investment Board
July 12, 2013--The Namibian Stock Exchange has launched the Alternative Investment Board (AIX) in another effort to develop and deepen the local capital market.
The AIX was launched last week Friday (05 July) with the listing of Canada-based junior gold exploration company, Giyani Gold.
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Source: AllAfrica.com
JSE more than 2% higher
July 11, 2013--Local shares followed global markets higher on Thursday after U.S. Federal Reserve Chairman Ben Bernanke said monetary stimulus would still be needed for the foreseeable future.
The JSE Top 40-(Tradeable) [JSE:J200] index was 2.45% higher at 36 083.76 and
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State of the South African Exchange Traded Product Industry Review-Second Quarter 2013
Table 1 summarises the capital raising activities of the nine companies that currently issue ETPs. Absa was the most successful issuer, raising a net R4,6 billion new capital on the JSE. This included R5,35 billion new capital raised through the issue of over 43 million shares by the NewPlat ETF, which invests directly in platinum bullion. This R5 billion new capital, raised in less than 6 weeks, has been one of the most successful capital raising ventures on the JSE in recent years. Redemptions of R716 million (R0,71 billion) of NewGold ETFs, brought the net capital amount raised by Absa products to R4,6 billion over the six month period.
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Rand firms on short-covering view more
Rand, bonds slightly firmer view more
Nigeria: Types of Collective Investment Schemes view more
East Africa Hopes to Have Regional Stock Exchange in a Year-Experts view more
Rand under pressure, bonds weaker view more
Kenya to Introduce Exchange-Traded Funds, Market Regulator Says view more
Source: FIN24
July 11, 2013--Net Capital Raised
Over the six months to June 2013, some R5,1 billion additional capital was raised by the issue of new ETPs or by the issue of further securities by existing ETPs.
Exchange Traded Products, like unit trusts, are open-ended securities listed on the JSE, that can issue new securities or redeem securities at any time to meet investor requirements.
Source: FA News
July 10, 2013--The rand firmed against the dollar on Wednesday with investors covering short positions but dealers expect gains to be curbed as markets wait for the publication of the minutes of the US Federal Reserve's June meeting.
The rand failed to break through R10.3000/$ on Monday, inducing a bounce that has taken it to the R10.0000 level.
Source: FIN24
July 9, 2013--The rand firmed against the dollar on Tuesday with investors booking profits on the U.S. currency and with risk sentiment improved after Greece managed to secure a bail-out to prevent Athens defaulting on debt due next month.
The dollar came back from three-year highs fuelled by a stronger-than-expected non-farm payrolls number on Friday.
Source: FIN24
July 9, 2013--There are different types of collective investment schemes (mutual funds) for different investment purposes. It is important that you understand the purpose or investment objectives of a mutual fund before deciding to participate or not.
The most common type is Unit Trust schemes. A unit trust is a scheme whereby investors contribute small sums of money to form a pool of fund for investment in stocks, bonds, or other money market instruments by a fund manager. The fund manager invests on behalf of the contributors or investors.
Source: AllAfrica.com
July 9, 2013--East Africa's dream of a regional stock exchange that merges into one the stock markets of the five East Africa Community member states is likely to take off in a year or two, key players in the region have said.
"Definitely we want to have one stock exchange. Technically, I think we are almost there. Maybe it will happen in about a year or two," said Kenneth Kitariko, Chief Executive Officer of African Alliance, Uganda's leading brokerage firm. Mr Kitariko, who is also a member of the Governing Council of the Uganda Securities Exchange, was speaking to African journalists at an event organized by the Thomson Reuters Foundation in Kampala last week.
Source: All Africanews.com
July 8, 2013--The rand touched fresh 2-week lows against the dollar on Monday and could lose further ground as the greenback remains supported by jobs data that has boosted chances the United States will soon pull back on its bond-buying programme.
News that Anglo Platinum [JSE:AMS], the world's number one producer of the precious metal, has been hit by a wildcat strike at one of its mines will weigh further on local sentiment.
Source: FIN24
July 8, 2013--The Nairobi Securities Exchange (NSEASI), Africa's third-best performing bourse this year, will begin offering exchange-traded funds, the Capital Markets Authority said.
The funds will be offered “in an effort to increase the scope of capital market products available in Kenya,” the Nairobi-based regulator said in an e-mailed statement today.
Source: Bloomberg Business Week
