Africa ETF News Older Than 1 year-If your looking for specific news, try using the search function
Rand holds firm as dollar struggles
April 28, 2011--The rand strengthened towards 4-month high against the dollar on Thursday, extending an overnight rally as the greenback slid broadly on a low interest rate outlook for the United States.
Government bonds were steady in thin trade after Wednesday's Freedom Day holiday in South Africa, with yields still in sight of last week's three-and-a-half month lows.
read more
Source: FIN24
Bonds remain range-bound
April 26, 2011--- South African bonds were relatively static in quiet trade on Tuesday, with little to drive the market and many players still on leave after the Easter weekend and Wednesday also being a public holiday.
There was no weekly government auction this morning.
By 16:06, the benchmark R157 bond was bid at an unchanged 7.630% and offered at 7.620%, while the R207 was bid at 8.430% and offered at 8.400% from a previous close of 8.410%. The R186 was bid at 8.655% and offered at 8.625% from its previous close of 8.640%.
read more
Source: FIN24
Commodities, resources weigh on JSE
April 26, 2011-- The JSE closed flat on Tuesday, strained by commodities, which weakened on the back of a stronger rand. A local trader described the day as lacklustre.
By 17:00 local time, the JSE All Share [JSE:J203] index was flat (0.03%), with gold miners down 1.50%, resources giving up 0.80% and platinum miners shedding 0.23%.
Banks were in positive territory, rising 1.73%, while financials added 0.93% and industrials rose 0.48%.
read more
Source: FIN24
Aussie dollar hits 29-yr high
April 25, 2011-- The Australian dollar hit a fresh 29-year high and South Korea's benchmark share index touched another record intraday high on Monday, suggesting investors were still eager to embrace risk and higher-yielding assets
Commodities pushed higher with spot gold hitting a record high of $1 517.71 an ounce and U.S. silver futures scaling a 31-year peak.
read more
Source: FIN24
Nigeria: Building Macroeconomic stability and delivering services for the poor
August 25, 2011--Overview
Nigeria boasts a strong and resilient economy, thanks to rapid growth in both its oil and non-oil sectors over recent years.
Yet poverty remains pervasive and the International Development Association (IDA) is working with Nigeria to address the fundamental causes of this problem, and to ensure that all its effort take into account the need to improve governance at all levels. As a result, IDA projects have seen positive results in education, health, and the delivery of clean water.
view report-Nigeria: Macroeconomic Stability and Delivering
Services for the Poor
Source: World Bank
East Africa starts monetary union discussions this week
April 25, 2011--SENIOR officials among them central bank governors from the East African Community partner states sit this week in Mwanza, Tanzania in another negotiation round moving closer to the anticipated East African Monetary Union.
The executives who will also include capital markets authorities, insurance and pensions regulatory agencies and national statistics officials will be considering the provisions of the draft protocol in four working groups of macroeconomic, statistics, financial sector and payment and settlement systems.
read more
Source: New Vision
Bonds tad firmer ahead of long weekend
April 21, 2011--South African bonds were a smidgen firmer in late trade on Thursday on the back of a stronger rand as local markets wound down for the four-day Easter weekend.
By 15:55, the benchmark R157 bond was trading at 7.630% from its previous close of 7.645%, while the R207 was trading at 8.410% from 8.420% before. The R186 was bid at 8.660% and offered at 8.630% from its previous close of 8.655%.
read more
Source: FIN24
JSE ends firmer despite poor US data
April 21, 2011--The JSE closed modestly higher in trading characterised by light volumes on Thursday, with investors fixated on locking up profits ahead of the Easter weekend.
By 17:00 local time, the JSE All Share [JSE:J203] index rose 0.41%, with resources firming 0.52% and platinum miners gaining 1.33%. Banks also found 0.31%, financials added 0.41% and industrials were up 0.29%.
The rand was bid at 6.69 to the dollar from 6.77 at the JSE's close on Wednesday.
read more
Source: FIN24
JSE maintains firmer tone
April 20, 2011--The JSE extended gains in midday trade on Wednesday, propped up by general mining counters as investors looked past the ratings agency Standard & Poor's outlook on US debt.
Devin Shutte, an equity trader at stockbrokerage Newstrading, said positive US corporate earnings, in particular, had helped offset the gloomy mood in global markets, he added.
Standard & Poor's cut its outlook on US government debt on Monday, rattling investors and sparking a huge sell-off.
read more
Source: FIN24
Bonds little moved in lacklustre trade
April 20, 2011--South African bonds were slightly firmer in late trade on Wednesday, amid quiet conditions ahead of the long Easter weekend.
Owing to the long weekend and more public holidays next week and the following one, many players are keeping to the sidelines.
Bonds were also unmoved by worse than expected consumer inflation data earlier on Wednesday morning.
read more
Source: FIN24
