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Bonds slip from best level on rand
September 19, 2012--The South African bond market slipped from its morning best level in afternoon trade on Wednesday on a weaker rand.
“We are still firmer relative to Tuesday‚ but off our best levels as the rand gave up some of its recent gains‚” a local bond trader said.
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Source: FIN24
Nigerian Stock Exchange launches market-making today
September 18, 2012--Today (18 Sept) the Nigerian Stock Exchange is to launch its market-making programme, according to its press release.
This will be a hybrid process, with market makers offering 2-way (buy-sell) price quotes in selected securities and a continuation of the current process in which licensed broker/dealers of the NSE submit orders.
The launch follows drawing up rules and operational guidelines. Role-players such as market makers, securities lenders, short sellers, settlement banks, pension fund administrators, insurance companies and listed companies have been trained, including in an 11 Sept workshop.
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Source: African Capital Markets
JSE closes lower on consolidation
September 17, 2012--The JSE share market closed softer on Monday on the back of some profit taking after global rallies last week, which pushed the JSE Ltd [JSE:JSE] to a fresh all-time high on Friday, after a third round of quantitative easing (QE3) was announced by the US Federal Reserve (Fed) on Thursday.
At 17:00 local time‚ the JSE all-share index was down 0.51% to 36 362.58 points‚ with most indices in the red‚ expect for platinum‚ which gained 2.16% with banks adding 0.18%.
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Source: FIN24
Rand fairly flat on ECB details
September 17, 2012--The rand was slightly weaker in late trade on Monday as traders eyed details of the ECB's (European Central Bank) conditional bond-buying programme for direction.
At 15:56 local time‚ the rand was bid at R8.2049 to the dollar from R8.1978 at Friday’s close. It was bid at R10.7871 to the euro from its previous close of R10.8030 and at R13.3259 against sterling from R13.3682 before
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Source: FIN24
SA still tops for investment in Africa
September 16, 2012--South Africa, Egypt and Nigeria are ranked as the most attractive economies to invest in, according to Rand Merchant Bank's second edition of Where to Invest in Africa.
The report, which ranks investment destinations across the region, now also analyses North African countries.
Data for selected emerging and developed nations has been included against which Africa’s performance can be compared, while an assessment is made on how the investment environment has been changing over time - mostly for the better, but sometimes for the worse.
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Source: FIN24
Zambia's debut $750m Eurobond puts focus on Africa
September 14, 2012--"There is a great appetite for Africa credit and a lack of supply," is the comment from Standard Bank group analyst Yvette Babb interviewed by Bloomberg as Zambia went to the global market yesterday (13 September) with a USD750 million 10-year bond priced at a final coupon of 5.625%.
It is Zambia’s first international bond and will be used to fund its budget and invest in infrastructure.
Reuters reports that the bond has “come 25bp tighter than initial guidance after generating an order book in excess of USD11bn”. Barclays and Deutsche Bank are the leads for the bond issue, although a roadshow reportedly planned for August was delayed.
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Source: African Capital Markets
JSE sets new closing records
September 14, 2012--The JSE Ltd [JSE:JSE] set new closing records on the All Share [JSE:J203], Top 40-(Tradeable) [JSE:J200] and industrial indices, benefiting from the US central bank policy action to stimulate the world’s largest economy.
At 17:00‚ the JSE all-share index had rallied 1.85% to 36 550.08 points‚ with the top-40 index up 2.14%. Resources soared 5.39%‚ gold miners jumped 4.59%‚ platinum shares lifted 3.38% and industrials garnered 0.56%.
Banks bucked the trend and were down 2.
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Source: FIN24
JSE up on resources‚ industrials
September 12, 2012--The JSE Ltd [JSE:JSE] share market ended higher on Wednesday, underpinned by the resources and industrial sectors, which benefited from the rand weakness.
Positive risk sentiment linked to the approval of the eurozone bailout fund by the German Constitutional Court appeared to have lost steam in late trade‚ with some leading European markets turning lower‚ while US stocks were flat. Traders attributed the pull back to some caution ahead of the US Federal Reserve policy meeting on Thursday.
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Source: FIN24
JSE cuts losses on Wall Street
September 12, 2012--The JSE Ltd [JSE:JSE] share market pared its losses to finish only slightly weaker on Tuesday, boosted late by the positive open on Wall Street.
Platinum shares were the worst performers on the day‚ losing close to 3% due to labour-related disputes in the industry.
Banks and financials bucked the trend‚ boosted by FirstRand’s strong full year profit.
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Source: FIN24
JSE loses as foreigners shift gear
September 10, 2012--The surprise on the JSE Ltd [JSE:JSE] on Monday was the platinum and resources sector, which was the highest gained despite ongoing strike problems.
The overall index lost 219 points as foreigners shifted gears ahead of key international events.
“International institutions were buying mostly industrial and retail stocks for two to three weeks‚ but they are now starting to move out as they look more at resource stocks. It is on the back of speculation over more stimulus in the US‚” said Thys van Zyl‚ portfolio manager from Thebe Stockbroking.
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Source: FIN24
