Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Resources, gold shares prop up JSE
October 31, 2012--The JSE remained marginally firmer at noon, on course to end the month on a positive note, having chalked up more than 4% growth on the All Share [JSE:J203] and Top 40-(Tradeable) [JSE:J200] indices respectively.
At 12:42pm‚ the JSE all share index was up 0.19% at 37‚215.77 points‚ with the top 40 index edging up 0.18% to 33‚061.76. Gold counters lifted 0.85%
read more
Source: FIN24
Rand flat in quiet trade
October 31, 2012--The rand was flat in the late morning on Wednesday as traders awaited the latest South African trade data, due at 14:00, for direction.
“The rand is not doing anything at the moment; it is very quiet. Traders will be looking at the Reserve Bank’s September trade data for direction‚” said Tony van Dyk‚ a currency dealer from the Iquad Group.
view more
Source: FIN24
JSE turns positive in subdued trade
October 30, 2012--The JSE turned positive at noon, rebounding from the negative start to the session, amid some buying interests in some constituent sectors.
The value and volumes traded however remained below average due to the closure of US markets for a second day.
At 12:26‚ the JSE All Share [JSE:J203] index was up 0.18% to 37 060.47‚ with the Top 40 - (Tradeable) [JSE:J200] index nudging up 0.11% to 32 912.59. Banking and financial shares gained 0.61% and 0.34%‚ respectively.
read more
Source: FIN24
East Africa regulators seek more trades in cross--listed shares
October 30, 2012--Regulators in East Africa are seeking to boost liquidity by encouraging more trading in the dual-listed shares. The regional forum, the East African Securities Regulatory Authorities (EASRA), is to talk to stakeholders.
It will also focus on developing East African Community (EAC) Council Directives to support convergence in the legal frameworks and in harmonization in the region. They also backed joint action, including inspections and investigations, according to a press release.
The decisions came in the 36th Consultative Committee meeting held on Friday 19 October, 2012, in Dar es Salaam, Tanzania. EASRA members agreed to amend their Memorandum of Understanding (MoU) to allow for the creation of “supervisory colleges” that would administer joint inspection programmes and investigations within regional operators, as well as coordinated surveillance for cross-listed companies. The regulators agreed to continue implementing common standards on corporate governance for market intermediaries as well as work on the development of common standards on corporate governance for listed companies.
read more
Source: African Capital Markets
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
