South Africa

South Africa News

• Rand Drops From 5-Month High as Charts Indicate Peak: Johannesburg Mover

  Updated 14 minutes ago

  South Africa’s rand had its biggest one-day decline in more than a week as a technical indicator measuring the currency’s momentum suggested its advance to a five-month high this week had gone too far, too fast.

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  Euro Declines, German Bunds Advance as U.S. Stocks Trade Little Changed

  Updated 34 minutes ago

  The euro weakened and German bonds gained, while U.S. and European equities were little changed, as Spain raised its budget-deficit target for 2012 and German retail sales unexpectedly declined. Bond risk rose and oil declined.

• South Africa to Use Flexible Inflation Targeting in Crises, Kganyago Says

  Updated 14 minutes ago

  South Africa’s central bank will use a “flexible” inflation-targeting policy to address any financial shocks the economy may face in the future, Deputy Governor Lesetja Kganyago said.

• Sub-Sahara Africa Stocks: KenolKobil, Total Kenya Are Active

  Kenya’s All-Share Index advanced for the ninth straight day, gaining 1 percent to 60.05 as of 1:48 p.m. in Nairobi, the longest rally since September 2010.

• Emerging Stocks Advance on U.S Data, China Congress

  Updated 59 minutes ago

  Emerging-market stocks rose, with the benchmark index set for a third weekly gain, after U.S. jobless claims fell and amid speculation China may introduce policies to support growth at a national congress next week.

• Rand Declines, Pares Week’s Rally as Concerns About Europe Growth Remain

  The rand declined the most in a week and bonds gained for the first day in three on concern slowing growth in the euro region, South Africa’s biggest regional trading partner, will dim prospects for the nation’s exports.

• Basci Breakeven Rates Show Inflation Targets Beyond Reach: Turkey Credit

  Updated 2 hours, 44 minutes ago

  Bondholders are losing confidence in central bank Governor Erdem Basci’s ability to meet his target of cutting the highest inflation rate among major economies in half.

• South African February Vehicle Sales Rise at Slowest Pace in Nine Months

  South African vehicle sales increased at the slowest pace in nine months in February as households curbed spending, the National Association of Automobile Manufacturers of South Africa said.

• PIC May Invest 10% of Assets Outside South Africa, Business Day Reports

  South Africa’s Public Investment Corp. may invest as much as 10 percent of assets outside South Africa to diversify its investment portfolio, Business Day reported, citing Chief Executive Officer Elias Masilela.

• Impala Platinum Continues Rehiring Mineworkers as Protesters Block Routes

  Protesters blocked routes to Impala Platinum Holdings Ltd.’s Rustenburg operations in South Africa as miners tried to return to work following a four-week stoppage that cut global supplies by more than 100,000 ounces.

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