Stock Markets

Mondi Crediting an Annual Average Compound EBITDA Growth Rate of 18.8%

Mondi Crediting an Annual Average Compound EBITDA Growth Rate of 18.8%

On Tuesday, the paper maker Mondi claimed that its South African packaging business will be listed with a new name, Mpact Limited, on the Johannesburg Stock Exchange where the new name will be effective from the listing date.

The company had succeeded to establish itself among the renowned manufacturers of packaging paper with 22 manufacturing operations and 29 operating sites in the regions of South Africa, Namibia, Mozambique and Zimbabwe.

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Stock Exchange of South Africa Closes at a Dissatisfactory Note for Illovo

Stock Exchange of South Africa Closes at a Dissatisfactory Note for Illovo

The South African Stock exchange index goes higher on the fifth day, adding a growth of 45.38 or 0.1%. Among the various organizations, Eqstra Holdings Ltd., an importer of industrial and construction utensils, closed down on 12th may after an addition of 3.2%, Gold Fields Ltd., second largest gold producer of South Africa gained 1.8%. The stock exchange closed at a highest rate on 27 May after on 3 rd May.

South African Stocks Proceed to Open Trading

stock exchange

As per reports, the FTSE/JSE Africa All Share Index has cited a growth of 194.85 or 0.6 percent, as the figures have reached to 31,539.38 as of 11:01 a. m. in Johannesburg.

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South African Rand Slips a Tad Bit Further

South African Rand Slips a Tad Bit Further

In a recent development, it has been revealed that the position of the rand has fallen further against the dollar. The reason for this might be the weak disposition of the euro. This in turn happened because the investors took a step back after the risks involved in the transactions were revealed.

"We've seen the rand weaken today on the back of European woes as negative headlines continue, broadly keeping risk under pressure. We've seen credit spreads widening in peripheral Europe as well”, Duncan Howes, a currency trader at Absa Capital, said.

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Developments of the South African Stock Market

Developments of the South African Stock Market

There is an advancement shown in the FTESE/JSE African All shares index. They have shown a surge of 0.7%. This has happened in the time span of 2:55pm. The reported gain of the same has been of as much as 0.5%.

In the other developments of the market, ATR that is a communication–tower making firm, showed a low closing with as much as 14% of drop to close down at 12 cents. According to a report by the regulatory, it was revealed that the firm had shown a loss of 133.1 million rand in the year. This is even more than the loss of 92.3 million that it has incurred the year earlier.

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Investors Looking Forward to Gain in African Markets

Investors Looking Forward to Gain in African Markets

According to recent reports, it has been revealed that the foreign investors are keen on investing in Africa. Despite the turmoil that is prevailing in the political disposition of the nation, investors are still showing deep interest in investing in the nation, as revealed by the Coronation Fund Managers.

The firm was of the view that the Profiles in Africa attract more people because of a number of reasons and this is going to help in being able to form a good track record based on the performance.

Argentina's Stocks Advance

Argentina's Stocks Advance

The stocks of Argentina advanced after a rise in financial and industrial shares and improvement in the job rates of the US.

Silver Recovers from Loss

Silver Recovers from Loss

The price of silver has recovered from its biggest fall on Friday. In the previous trading, the price has fallen by one-day dollar, which was its biggest decline since 1980. The metal fell by 12% on Thursday after another margin hike by the CME Group on its COMEX silver, which increased the cost of the trading silver. The action dropped the gold prices by 3%.

The fall in the prices of these two metals has initiated sell-off that declined the prices of many other commodities including oil and copper.

South African Stocks Fall

South African Stocks Fall

The South African stocks tumbled on Thursday following the fall in the value of rand and production of mining companies. The South African currency declined 0.5% to 9.8324 per euro. Unemployment rate of the country increased to 25% in the first quarter of the financial year.

The FTSE/JSE Africa All Share Index fell consecutively for the fourth day by 0.6% or 184.29 to 31,397.85 in the early hours trading in Johannesburg.

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Supply of Platinum to Rise Across the Globe

Supply of Platinum to Rise Across the Globe

The research firm GFMS has recently released its 2011 Platinum and Palladium Survey which claims that the supply of platinum is likely to increase this year, across the globe.

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