Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Botswana's economy recovers
October 3, 2011--- Diamond-rich Botswana's economy rebounded in the second quarter with 9.6% growth compared to the previous three months, despite an eight-week strike by public workers, the government said Monday.
The economy had contracted by 2.2% in the first three months of the year, but a sharp increase in construction and mining powered a rebound from April to June, the Central Statistics Office said.
Compared to the second quarter of 2010, the economy grew by 12.4%.
read more
Source: FIN24
Stocks end gloomy quarter on sour note
September 30, 2011--South African blue-chip stocks booked their worst quarterly performance since the second quarter of 2010 on Friday, as concerns about the eurozone debt crisis sent shares down 7.6% in the July-September period.
The Top 40 - (Tradeable) [JSE:J200] index of blue-chips finished the day down 0.11% at 26 375.82, as steep losses in luxury goods maker Richemont and other heavyweights outweighed a rise in gold miners.
The broader All Share [JSE:J203] index finished the day down 0.05% at 29 674.20.
read more
Source: FIN24
Bonds track rand weaker
September 30, 2011--South African bonds weakened further during midday play on Friday, as the market traded long after a spate of foreign selling this week and a poor auction on Tuesday. A local trader noted that the weaker rand was also weighing.
By 11:50, the benchmark R157 bond was trading at 7.010% from its previous close of 6.880%. The R207 was bid at 8.290% and offered at 8.280% from a previous close of 8.155% and the R186 was trading at 8.670% from its close of 8.510%
read more
Source: FIN24
Rand slides against dollar
September 30, 2011--The rand came under pressure in afternoon trade on Friday, off nearly 2% at its intraday worst figure of 8.15 against the greenback before making a slight recovery.
A local dealer noted choppy trade as investors looked at "fixing" positions ahead of month end, and quarter end. "The rand has come under some pressure today. The 8.00 level is a psychological number but we really need to see the rand break through its recent worst levels to get exciting." He noted that the euro was also under some pressure
read more
Source: FIN24
JSE punished by risk aversion, PPI data
September 29, 2011-- South African stocks ended lower for a second straight session after choppy trade on Tuesday as investors fled emerging markets and worse-than-expected producer inflation figures hit banks.
Johannesburg’s banking index closed a volatile session 3.2% lower, with Standard Bank the biggest loser, dropping 3.6% to R92.65.
“We had some PPI numbers which were a lot worse than expected,” said Nick Kunze, head of dealing at BJM Private Clients.
read more
Source: FIN24
Stronger rand eyes PPI, German vote
September 29, 2011--The rand firmed against the dollar on Thursday with dealers expecting it to maintain its gains and make another attempt to break R7.75.
Investors will watch to see whether Germany will vote in favour of expanding the eurozone's bail out fund to ease the debt burdens of countries such as Greece.
read more
Source: FIN24
Bonds weaker after PPI surprises
September 29, 2011--South African bonds were weaker in noon trade on Thursday after August's producer price index (PPI) registered growth of 9.6% year-on-year (y/y) - higher than the expected 9.0%.
By 11:50, the benchmark R157 bond was trading at 6.870% from its previous close of 6.845%. The R207 was trading at 8.180% from 8.095% previously and the R186 was trading at 8.550% from its close of 8.445%.
read more
Source: FIN24
JSE ends weaker in volatile trade
September 28, 2011--The JSE ended decidedly weaker on Wednesday after a volatile trading session, as investors awaited fresh news flow on the eurozone debt crisis.
The local exchange rallied 3.48% on Tuesday, along with other main global markets, on hopes that European authorities would soon announce a plan to resolve sovereign debt issues.
read more
Source: FIN24
Rand holds ground, bonds firmer
September 28, 2011-South African bonds were firmer, shadowing the stronger rand, during late trade on Wednesday. A local trader noted that the session had been fairly quiet.
By 18:00, the benchmark R157 bond was trading at 6.860% from its previous close of 6.880%. The R207 was bid at 8.105% and offered at 8.085% from 8.115% previously and the R186 was trading at 8.460% from its close of 8.440%.
read more
Source: FIN24
Bonds slightly weaker in quiet trade
September 28, 2011--South African bonds were weaker in noon trade on Wednesday, which a trader said was as a result of the market being caught long after recent foreign selling.
By 11:50, the benchmark R157 bond was trading at 6.905% from its previous close of 6.880%. The R207 was trading at 8.180% from 8.115% previously, and the R186 was bid at 8.490% and offered at 8.485% from its close of 8.440%.
read more
Source: FIN24
