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South Africa | Sasol Set for Its Biggest Decline Since 1998 on Writedowns

Johannesburg, South Africa, Capital Markets in Africa: Sasol Limited was set for the biggest decline in more than 17 years after saying fiscal full-year profit will drop by as much as 30 percent following write downs. The South African fuel producer reported impairments totaling 11.5 billion rand ($770 million), citing the collapse in energy prices. The shares fell 11 percent in Johannesburg, which would be the largest slump on a closing basis since October 1998….

South Africa’s Rand Gains to Five-Month High Versus Dollar

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Johannesburg, South Africa, Capital Markets in Africa — The rand gained to its strongest level against the dollar in five months after South Africa unexpectedly posted a trade surplus in March for the first time this year. The currency gained 0.9 percent to 14.1611 per dollar by 2:46 p.m. in Johannesburg, heading for the strongest level since Nov. 24 and the best performance out of 31 major and emerging-market currencies monitored by Bloomberg. The rand has advanced 9.2 percent…

African Stock Market March 2016: Bull rules, Egyptian equities rewards local investors with 22.4% gains

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LAGOS, Nigeria, Capital Markets in Africa — The Federal Reserve’s dovish stance on U.S. interest rates and a rebound in commodity prices fuelled an African-market rally in March, leading currencies to record monthly gains against the dollar. African equity market performance measured by country equity benchmark index returns ended in positive for the month, with eleven gainers and seven losers on the local currency basis. March’s average return of 2.3 percent was recorded across eighteen African…

African Stock Market February 2016: BRVM Bourse & Kenya Stocks reward local and foreign investors

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LAGOS, Nigeria, Capital Markets in Africa —Stronger commodity prices helped most African stock markets to rebound in February. The rally has been sparked by a rebound in commodity prices with gold up 21 percent from its December low. Commodities are rallying amid more optimism over economic growth in China, while negative interest rates in countries like Japan and Switzerland are increasing the appeal of gold as a safe haven. Consequently, African equity market performance measured by country equity benchmark index returns…

South Africa’s Reserve Bank hikes repo rate by 50 basis points

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Johannesburg, South Africa, Capital Markets in Africa —- The South Africa Reserve Bank’s Monetary Policy Committee (MPC) raised the repo rate to 6.75% from 6.25%. This takes the cumulative increases to 1.75 percentage points since the MPC started tightening policy in January 2014. Governor Lesetja Kganyago stated that, although the impact of the weaker exchange rate on inflation had remained muted in recent years, renewed rand weakness and the likelihood of higher food inflation had…

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

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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…

South Africa Equity Markets | 09 Nov 2015: Equity starts the week in green, all key sectors end in the south …

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Johannesburg, South Africa Capital Markets in Africa —The Johannesburg Stock Exchange (JSE) equity trading opened the week on a positive note. The JSE All Share (the broadest measure of the equity market performance) gained 0.77 percent or 407.16 points to settle at 53,371.23 points and the JSE Top 40 index closed 0.89 percent or 424.19 points higher to end at 47,964.96 points. The financial sector index added 0.13 percent or 57.84 points at 44,706.91 points. Industrial sector index and industrial…

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