South Africa Stocks Regulator May Seek Foreign Help in Gupta Probe

South Africa Stocks Regulator May Seek Foreign Help in Gupta Probe

JOHANNESBURG (Capital Markets in Africa) – South Africa’s stock-market regulator said it has started a formal investigation into trades in Oakbay Resources and Energy Limited, a company controlled by the politically connected Gupta family, and may seek assistance from international supervisory bodies. A preliminary probe into the November 2014 dealings has been completed, and if needed, the Financial Services Board will contact counterparts in other countries, the Pretoria-based authority said in an emailed response to questions…

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South Africa’s Main Stock Index Hits 60,000 for First Time

South Africa’s Main Stock Index Hits 60,000 for First Time

JOHANNESBURG (Capital Markets in Africa) – South Africa’s benchmark stock index reached the 60,000 points level for the first time as investors responded positively to news that Cyril Ramaphosa has the lead in the African National Congress leadership race and a weakening rand gave support to exporters. The FTSE/JSE Africa All Share Index climbed as much as 0.8 percent to 60,140.33 in Johannesburg, before settling at a record close of 59,975.67, a gain of 0.6 percent. Signs that…

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Burger Brexit Hit Sends Famous Brands Tumbling Most in 14 Years

Burger Brexit Hit Sends Famous Brands Tumbling Most in 14 Years

JOHANNESBURG (Capital Markets in Africa) – Famous Brands Limited slumped the most in 14 years after the South African fast-food chain owner said its U.K. Gourmet Burger Kitchen business, acquired months after Britain voted to leave the European Union, may only return to profit in the next financial year. The stock dropped as much as 17 percent in Johannesburg, the biggest intraday decline since June 11, 2003. First-half earnings per share fell as much as 60 percent in…

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South Africa’s bourse to review trades around Gordhan’s recall

South Africa’s bourse to review trades around Gordhan’s recall

JOHANNESBURG (Capital Markets in Africa) – South Africa’s bourse will investigate an increase in the trading of certain securities in the hours before former finance minister Pravin Gordhan was recalled from an international investor roadshow, BusinessDay newspaper reported on Monday. On March 27, news broke that President Jacob Zuma had ordered Gordhan to return immediately from a trip to Britain and the United States. Gordhan was later dismissed in a cabinet reshuffle. The newspaper reported…

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Rand Merchant Bank lists US Dollar Custodial Certificates on JSE

Rand Merchant Bank lists US Dollar Custodial Certificates on JSE

JOHANNESBURG (Capital Markets in Africa) – Rand Merchant Bank (RMB), has listed an innovative new product on the Johannesburg Stock Exchange (JSE), which will enable companies and individuals to hold unlimited quantities of cash in US dollars. US Dollar Custodial Certificates (DCCs), listed on the Exchange Traded Funds sector of the JSE on 24th January, are easily tradable, dollar-denominated investment instruments which have no exchange control implications. Investors earn the return of a US Treasury…

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South Africa Equity Markets | 11 Nov 2015: JSE All-Share index ends higher despite fall in gold and resource indices

Johannesburg, South Africa Capital Markets in Africa —Positive mood returned to the Johannesburg Stock Exchange (JSE) at the end of today’s equity trading session. The JSE All Share (the broadest measure of the equity market performance) surged by 0.50 percent or 28.60 points to trade at 52,594.10 points and the JSE Top 40 index ended 0.14 percent or 63.89 points higher to close at 47,265.83 points. From the sector indices perspective, financial sector index fell by 0.24…

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South Africa Equity Markets | 10 Nov 2015: JSE equity trading floor paints in red, resource index 3.23% down …

South Africa Equity Markets | 10 Nov 2015: JSE equity trading floor paints in red, resource index 3.23% down …

Johannesburg, South Africa Capital Markets in Africa —On Tuesday, Johannesburg Stock Exchange (JSE) equity trading ended in the negative territory. The JSE All Share (the broadest measure of the equity market performance) declined by 1.51 percent or 805.73 points to trade at 52,565.50 points and the JSE Top 40 index ended 1.59 percent or 763.02 points lower to close at 47,201.94 points. The financial sector index sagged 0.84 percent or 688.07 points to close at 44,018.84 points. Industrial sector…

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