Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Industrials boost JSE near close
October 29, 2012--The JSE managed to pare losses in late trade on Monday, eventually finishing in positive territory, with industrials leading the upside, while platinums and gold miners weighed.
"We saw some general market weakness during the day‚ but the JSE managed to close in the black with industrials gaining the most. Platinums and gold miners have been under pressure for quite a while now due to foreign investor discomfort because of strike activity. All the latest mining news is still making headlines‚ contributing to a continued selloff in that space‚" said Daniel Isaacs‚ analyst at 36ONE Asset Management in Johannesburg.
read more
Source: FIN24
Rand weakens on New York inactivity
October 29, 2012--The rand weakened on Monday afternoon as a lack of activity due to the closure of markets in the United States, caused by Hurricane Sandy, frustrated traders.
At 15:25‚ the rand was bid at R8.6795/$ from Friday’s close of R8.6622. It was bid at R11.1993 the euro from its previous close of R11.1745 and at R13.9185 against sterling from R13.9027 before.
read more
Source: FIN24
Banks pull JSE lower
October 26, 2012--The JSE continued weaker just before noon on Friday, in line with weaker world markets, with banks and gold miners putting the main strain on the bourse.
Market participants now await the US third quarter GDP number - out this afternoon - which should give further market direction.
At 11:50‚ the JSE All Share [JSE:J203] index was down 0.46% at 36 823.70 points‚ with the Top 40 - (Tradeable) [JSE:J200] dipping 0.48% to 32 648.60. Banks lost 1.06%‚ gold shares were down 1.01% and financials gave up 0.96%.
view more
Source: FIN24
Rand strengthens on US GDP data
October 26, 2012--The rand strengthened on Friday afternoon after better-than-expected US GDP data boosted markets.
“The local currency strengthened on better-than-expected US GDP data. It was expected to be 1.8% but it came in at 2%‚” said Ockert van Niekerk‚ head of trading at PSG.
read more
Source: FIN24
Platinums pull JSE higher
October 25, 2012--The JSE was higher at noon on Thursday, with platinum counters in the lead due to a higher platinum price.
Trade was quiet on the JSE‚ with market players awaiting the medium-term budget policy statement being tabled in Parliament at 14:00.
read more
Source: FIN24
Foreign direct investment to SA plummets
October 24, 2012--Foreign direct investment flows to South Africa tumbled 43.6% in the first half of 2012 compared to the same period last year, while FDI to the continent as a whole rose by 5%, a United Nations report said on Tuesday.
The decline in FDI to Africa's biggest economy came amid an 8% drop in global FDI inflows due to heightened global economic uncertainty, according to the UN's Global Investment Trends Monitor.
view more
Source: FIN24
Resources pull JSE higher
October 24, 2012--The JSE closed firmer on Wednesday with resources leading the upside recovering from Tuesday's fall and buoyed by better Chinese economic data out this morning.
The Chinese HSBC flash manufacturing purchasing managers’ index increased to 49.1 in October from 47.9 in September‚ which may indicate that China has seen the worst of the contraction in their manufacturing sector.
read more
Source: FIN24
Rand strengthens, all eyes on budget
October 24, 2012--The rand strengthened slightly in the afternoon on Wednesday as traders eye the medium-term budget policy statement (MTBPS) on Thursday.
“All the local currency traders are keeping an eye on tomorrow’s MTBPS. The higher than expected inflation data caused the rand to weaken when it came out‚ but it seemed to have clawed itself back‚” said Lynden Reabow‚ an FX sales trader from PSG Prime.
view more
Source: FIN24
Platinums, resources drag JSE lower
October 23, 2012--The JSE was softer at noon on Tuesday amid quiet trade, with the market waiting for fresh news to give it direction.
The platinum price was significantly lower dragging the platinum sector down‚ while gold miners managed to provide some upside to the local market.
At 12:28pm‚ the JSE All Share [JSE:J203] index was down 0.39%‚ at 36‚822.80 points‚ with platinums down 2.60%‚ while gold miners were 0.65% stronger.
European markets were mostly trading lower with London’s FTSE 100 seen 0.74% softer at 12:31pm local time.
read more
Source: FIN24
Rand falls against dollar, bonds stable
October 23, 2012--The rand was slightly weaker against the dollar on Tuesday as the market remained tentative ahead of a slew of local data this week, including the medium-term budget statement.
The rand was at R8.6765 to the dollar at 06:43 GMT, 0.5% below Monday’s New York close.
read more
Source: FIN24
