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Hans India
19-06-2025
- Business
- Hans India
Israel Stocks Rise to 52-Week High Despite Iran Attack
On June 19, the Tel Aviv Stock Exchange reached a 52-week high, even after an Iranian missile attack. Iran fired 25 missiles at Israel. Some hit a hospital in Beersheba and areas near Tel Aviv. The stock exchange building was also damaged, according to reports. Still, Israel's main indices rose: All Share Index: up 0.5% to 2,574.89 TA-35: reached 2,810.85 TA-125: hit 2,850.08 The TA-125 index has gained 5% since the war began on June 13. Israel's leaders said Iran will face strong action. The army has been ordered to increase strikes. While global markets fell, Israel's market stayed strong, showing investor confidence during the crisis.
Zawya
05-06-2025
- Business
- Zawya
Nigeria: NGX market cap hits $45bln as bulls persist
Nigerian equities market extended previous day's sentiment as price uptick in Oando Plc and 30 others pushed the overall capitalisation to cross N71 trillion. The All-Share Index rose by 354.25 per cent, representing a gain of 0.32 per cent, to close at 112,781.73 points. Similarly, the overall market capitalisation value gained N233 billion to close at N71.118 trillion. The market's positive performance was driven by price appreciation in large and medium-capitalised stocks which are; Oando, PZ Cussons Nigeria, Guaranty Trust Holding Company (GTCO), May & Baker Nigeria, and First Holdco. Investor sentiment, as measured by market breadth closed positive as 32 stocks gained, while 21 lost. Oando recorded the highest price gain of 10 per cent to close at N51.70, per share. Royal Exchange followed with a gain of 8.64 per cent to close at 88 kobo, while Legend Internet was up by 7.27 per cent to close at N5.90, per share. Lasaco Assurance appreciated by 6.67 per cent to close at N3.20, while May & Baker Nigeria gained 6.56 per cent to close at N13.80, per share. On the other hand, NCR Nigeria led the losers' chart by 9.89 per cent to close at N5.92, per share. ABC Transports followed with a decline of 9.83 per cent to close at N2.95, while Meyer depreciated by 9.63 per cent to close at N8.45, per share. Academy Press lost 9.58 per cent to close at N4.53, while Livestock Feeds shed 6.77 per cent to close at N8.95, per share. The total volume traded fell by 1.86 per cent to 611.527 million units, valued at N16.680 billion, and exchanged in 13,682 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 93.467 million shares valued at N1.776 billion. GTCO followed with 87.204 million shares worth N5.952 billion, while Royal Exchange traded 73.079 million shares valued at N64.920 million. United Bank for Africa (UBA) traded 57.114 million shares valued at N1.980 billion, while Access Holdings transacted 38.760 million shares worth N854.588 million. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Bloomberg
30-05-2025
- Business
- Bloomberg
South African Stocks Rally to Record With a Boost From China
South Africa's benchmark stock index is heading for its best month in almost a year, with a helping hand from China's most valuable company. The FTSE/JSE Africa All Share Index is up more than 7% in dollar terms in May, on track for its biggest monthly gain since June last year and its best May performance since 2013. It has outperformed emerging-market peers as well as the S&P 500 and the Stoxx Europe 600.
IOL News
22-05-2025
- Business
- IOL News
Markets pretty much shrug off Trump's attack on Ramaphosa
President Cyril Ramaphosa met with US President Donald Trump at the White House this week. Image: GCIS Even as US President Donald Trump lashed President Cyril Ramaphosa over alleged genocide affecting white farmers, neither the rand nor the JSE made any real moves. During a televised meeting between the two late on Wednesday, Trump showed Ramaphosa a video of then EFF leader Julius Malema chanting 'kill the boer, kill the farmer,' which dates back several years and highlighted the Witkruis Monument, which commemorates farmers killed during farm attacks. The meeting between the two came on the same day that the third iteration of the National Budget was tabled. The 'boring' fiscal framework is set to please investors and also didn't affect markets dramatically. Ramaphosa, who was not present for the tabling of the document for the first time since his inauguration nine years ago, joined virtually from Washington, where it was 5am. The rand was stable early on Thursday morning at R17.97, after closing at a similar level on Wednesday evening. It opened at R17.89 on Thursday, which signifies no major movement. The JSE's All Share Index, by late morning, was 0.56% down on the day, coming off its 1% gain and seven-day high at Wednesday's close. Johann Els, Old Mutual chief economist, said markets are relatively calm following the fireside chat between Trump and Ramaphosa. 'They're relatively around the levels that they were before the meeting over the last few days, in fact'. Els said markets might have expected perhaps a slightly worse outcome. 'There was an ambush, but the President kept his calm, so I think it's roughly as expected to slightly better than expected, and therefore there's no big impact on markets,' he said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Donald MacKay, founder and chief executive of XA Global Trade Advisors, said that there was, as yet, no indication of any trade deal. Following Trump's April 2 'Liberation Day' announcement of worldwide tariffs, the US President backtracked and paused them for 90 days. As a result, South Africa's 30% import tax was also halted, although the one affecting the automotive sector remained in place. MacKay added 'what is interesting though, is that China got another 90-day reprieve on their tariffs, which is a sign, I think, that Trump is feeling pressure at home. This could translate into South Africa also seeing an extension of the 90 days.' IOL
IOL News
22-05-2025
- Business
- IOL News
South Africa's National Budget: Stability in the Rand amid muted market reactions
Finance Minister Enoch Godongwana delivers the Budget speech in National Assembly held at CTICC in Cape Town. Image: Kopano Tlape/GCIS Following Finance Minister Enoch Godongwana's muted presentation of the National Budget, for the third time, on Wednesday, markets haven't been seriously agitated, and the fiscal framework is being seen as broadly investor friendly. The rand was stable early on Thursday morning at R17.97, after closing at a similar level after the National Budget was presented. It had opened at R17.89 on Wednesday, which signifies no major movement. The JSE's All Share Index, by late morning, was 0.56% down on the day, coming off its 1% gain and seven-day high at Wednesday's close. Old Mutual wealth investment strategist, Izak Odendaal, said the 'decidedly uneventful' and 'boring' National Budget was good and the financial market response was muted. The rand was stable early on Thursday morning at R17.97, after closing at a similar level after the National Budget was presented. Image: Morningstar Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Godongwana proposals included limiting direct tax increases to so-called 'sin' taxes, an increase in the fuel level, although he did say that gross domestic product (GDP) for the year would come in at 1.4% this year, down from a previously predicted 1.9%, markets haven't moved dramatically. At the same time, he said it was not an 'austerity' budget, indicating that he did not seek to reduce expenditure dramatically. He did, however, warn that subsequent budgets would need to ensure that government received more revenue, and that government would continue to pay large amounts to service debt, which would amount to more than R1.3 trillion over the next three years. South Africa's two previous Budget attempts failed to gain approval because of proposed VAT hikes, and markets had been concerned over DA threats to leave the multi-party government. Investec chief economist, Annabel Bishop, said that – with revenue and expenditure projections revised lower, and genuine potential for upside on revenue – the credit rating agencies are unlikely to react negatively. Casey Sprake, economist at Anchor Capital said, post the National Budget, National Treasury has made a significant policy pivot by cutting R70 billion in spending over the period between fiscal 2026 and 2028, which offsets the lower revenue trajectory and helps stabilise the main budget deficit. 'In an environment where fiscal credibility is under strain, such restraint is likely to be well received by financial markets,' she noted. Odendaal said that the 'key thing from investors' point of view is that fiscal consolidation remains the priority'. Sprake added that the 2025 National Budget is 'broadly seen as marginally bond-positive and moderately supportive of the rand over the medium term, primarily due to its emphasis on expenditure restraint amid lower revenue projections'. What is crucial, Sprake added, is that government has chosen to rein in spending rather than implement broad-based or distortionary tax increases which is 'an approach that sends a constructive message to investors'.
