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Nationalisation study gets underway
November 15, 2010--THE ruling ANC will appoint two independent researchers to investigate the nationalisation of mines, its secretary general said on Monday.
"The NEC (national executive committee) has resolved to appoint two senior researchers and a project manager to investigate successful models that could be considered on the role of the state in mining," Gwede Mantashe told reporters in Johannesburg.
"We are engaging the research institutions to provide researchers (for) the project...
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Source: miningmx.com
World Bank Releases Draft Africa Strategy
November 15, 2010--The World Bank on Monday released its draft strategy for Africa, Africa’s Future and the World Bank’s Role in it, aimed at steering its policies and operations in the Sub Saharan region for the next five years.
The strategy, which comes later than its expected September release date due to the large amount of feedback from external stakeholders and as the Bank incorporated lessons learned from the previous Africa Action Plan, takes into account input received from more than 1500 people in 36 countries, who were consulted online and in-person over the period June-September 2010.
“We heard from a diverse range of people from all walks of life in many different countries, who all have a stake in Africa’s development,” said Shanta Devarajan, the World Bank’s Chief Economist for Africa. “We carefully reviewed their inputs and produced what we think is a strong draft of a plan that will help carry the Bank forward as it supports Africa’s unprecedented transformation and growth.”
view the Africa’s Future and the World Bank’s Role in it report
Source: World Bank
JSE ends up, tracks global stocks
November 12, 2010-- The JSE ended in the black on Friday as global stocks came off their worst levels and banks regained some flavour.
At 17:00 the JSE all share index was up at 0.42%. Banks gained 1.72% while financials added 0.91%. Industrials were also up by 0.87%. Platinum counters were 0.53% higher. Gold stocks lost 1.01% and resources shed 0.25%.
The rand was bid at 6.87 to the dollar from the 6.93 close on Thursday. Gold was quoted at US$1 392.20 a troy ounce from $1 407/oz at the JSE's previous close. Platinum was at $1 710.00/oz from $1 718.50/oz before
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Source: FIN24
Bonds quiet ahead of weekend
November 12, 2010--South African bonds were steady in late trade on Friday, with no fresh news to give the market direction
By 15:30 the benchmark R157 bond was at 6.980%, from its close of 6.990% on Thursday, while the R207 was bid at 7.830% and offered at 7.800% from 7.830% at its previous close. The R186 was bid at 8.065% and offered at 8.030% after closing at 8.055%.
The rand was bid at 6.9134 to the dollar from its previous close of 6.9251.
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Source: FIN24
SA acts on BRIC club ambitions
November 12, 2010--South Africa has "applied" to join the four-member Bric grouping of fast-growing emerging markets, Russian President Dmitry Medvedev said at the Group of 20 meeting on Friday.
South Africa is the world's 31st-largest economy, according to World Bank data for 2009. It is less than a quarter the size of the smallest Bric economy, Russia, in the informal grouping that also numbers Brazil, India and China.
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Source: FIN24
Bonds little changed in quiet trade
November 11, 2010-- South African bonds were steady in quiet late trade on Thursday, with little being offered by way of direction.
By 15:30 the benchmark R157 bond was at 6.995%, from its close of 7.010% on Wednesday, while the R207 was bid at 7.845% and offered at 7.815% from 7.845% at its previous close. The R186 was bid at 8.060% and offered at 8.035% after closing at 8.060%.
The rand was bid at 6.9140 to the dollar from its previous close of 6.8868.
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Source: FIN24
JSE ends flat, but gold stocks up
November 11, 2010--The JSE closed flat on Thursday, in what a local trader called "a choppy day" and "not much direction
At the close the JSE all share index was a tad up at 0.13%. Resources were 1.15% higher while banks shed 1.09%. Gold stocks added 1.99% while financials lost 0.91%. Industrials gave up 0.39%
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Source: FIN24
Carbon Disclosure Project 2010 South Africa JSE 100 Report
November 11, 2010--Detailed analysis of responses received from the 100 largest companies in South Africa based on market capitalization.
view the Carbon Disclosure Project 2010 South Africa JSE 100 Report
Source: CDP
Bonds weaken on currency
November 10, 2010-- South African bonds were up to 8 basis points weaker in late trade on Wednesday, on the back of a weaker rand.
By 15:50 the benchmark R157 bond was at 7.030%, from its close of 6.955% on Tuesday, while the R207 was bid at 7.875% and offered at 7.845% from 7.760% at its previous close. The R186 was bid at 8.070% and offered at 8.060% after closing at 7.995%
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Source: FIN24
JSE ends lower on risk aversion
November 10, 2010--- The JSE tracked global stocks and closed in the red on Wednesday on the back of dollar strength and risk aversion, a local trader said.
At the close the JSE all share index had fallen by 0.46%, with platinum losing 1.38% and resources weakening 1.36%. Banks shed 0.82% while gold was down 0.61%. Financials were down 0.16%. Industrials bucked the trend and gained 0.31%.
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Source: FIN24
