Capitec overtakes Nedbank to become 4th largest by market value in SA

Businessam StaffSeptember 8, 2017

Capitec Bank Holdings Ltd. passed Nedbank Group Ltd. as South Africa’s fourth-largest lender by value to extend a market-beating rally that has made it the country’s best performing stock. The shares of Stellenbosch, South Africa-based Capitec rose 2 percent in Johannesburg on Thursday to close at 891.03 rand, giving it a market capitalization of 103 billion […]

Emerging markets main engine of global growth, says Jinping of China

Businessam StaffSeptember 6, 2017

President Xi Jinping of China has described emerging economies as the “main engine of global growth”, as economic indicators portrayed an economy making strong progress ahead of a crucial Communist party congress next month. Xi told fellow world leaders that emerging markets must “jointly seize the historical opportunity arising from the adjustment of world economic […]

Global stocks mixed after China factory, Wall Street gains

Businessam StaffAugust 31, 2017

KEEPING SCORE: In early trading, Germany’s DAX rose 0.6 percent to 12,075.51 and London’s FTSE 100 added 0.5 percent to 7,401.66. France’s CAC 40 gained 0.4 percent to 5,077.40. On Wednesday, the DAX and the CAC 40 both rose 0.5 percent while the FTSE 100 added 0.4 percent. On Wall Street, futures for the Dow […]

Stocks drop, gold leads Storm Haven rally on Korea fears

Businessam StaffAugust 29, 2017

Headwinds stacked up for global markets on Tuesday, with stocks slumping across Europe and Asia and havens including gold jumping after North Korea fired a ballistic missile over Japan. Gasoline slipped even as energy companies braced for another hit from Tropical Storm Harvey. From London to Sydney equities retreated and volatility rose amid classic risk-off moves, with […]

U.S. equity funds post longest run of outflows since 2004

Businessam StaffAugust 25, 2017

U.S. equity funds suffered their longest streak of outflows in 13 years as growing signs of political deadlock in Washington cast doubt on a rally that has taken the S&P 500 Index to record highs. Investors pulled $2.6 billion from U.S. stock funds in a 10th consecutive week of outflows, Bank of America Merrill Lynch said in […]

Afreximbank introduces $300m equity offering to Nigerian investors

Businessam StaffAugust 24, 2017

The African Export-Import Bank (Afreximbank) Thursday met with leading Nigerian investors to push for strong participation in the bank’s $300 million equity offering. Benedict Oramah, the President of Afreximbank, told the investors in Lagos that the equity offering would be issued through depository receipts backed by its Class “D” shares for new and old investors […]

Wall street set to open higher as investors go bargain hunting

Businessam StaffAugust 22, 2017

U.S. stocks were set to open higher on Tuesday as investors picked up beaten-down stocks following a turbulent two weeks while awaiting the annual central bankers meeting in Jackson Hole later this week. The benchmark S&P 500 index.SPX ended slightly higher on Monday, after two days of declines. The S&P has tumbled 2.1 percent in the […]

Banks lead relief rally for European stocks, RWE jumps

Businessam StaffAugust 14, 2017

European shares enjoyed a relief rally Monday after geopolitical tension had sent them to their worst weekly losses of the year. The pan-European STOXX 600 rose 0.7 per cent while euro zone stocks and blue-chips jumped 0.9 per cent. The tension between the United States and North Korea had caused their worst losses this year, […]

Correction week begins Monday for India markets

Businessam StaffAugust 13, 2017

Indian markets posted their biggest weekly decline in 18 months as several worries dominated the street, beginning with the escalation of tensions between the United States and North Korea. The Doklam standoff between India and China along with the crackdown on suspected shell companies by SEBI added to negative sentiments as earnings and macro numbers […]