S.Africa's rand and stocks fell to multi-month lows on Monday as investors dumping risk hammered everything from resource firms to banks after the downgrade of the U.S. credit rating prompted a sell-off.
South African government bonds extended a recent rally on Thursday, gaining sharply on the back of worries about the global economy that saw investors running to safer assets.
South Africa's rand fell against the dollar on Monday as a set of weak international manufacturing data reawakened worries about the global economy, prompting investors to go for traditional safe-haven trades.
South Africa's resource-heavy bourse tumbled on Wednesday with gold miners helping to drag the index down as strikes over wages loomed in the sector.
Intelsat S.A., the world’s leading provider of fixed satellite services, announced today that the launch of Intelsat New Dawn has been rescheduled to Friday, April 22 at 5:37 p.m. (EDT). The satellite, loaded on an Ariane 5 rocket, will be launched from the Spaceport in Kourou, French Guiana.
South Africa's government bond curve steepened again on Monday with the yield spread between shorter and longer-dated debt hitting a record high as dealers positioned ahead of a debt auction on Tuesday.
Long-term South African bonds rose on Friday after a four-day sell-off fuelled by the government's disappointing budget deficit forecast for next fiscal year.
South Africa's economic growth came in higher than expected in the fourth quarter, boosted by stronger growth in the mining and agricultural sectors, according to data released on Tuesday.
South Africa's rand was little changed from last week's closing levels against the dollar on Monday, with central bank intervention helping stem gains in the currency despite support from stronger commodity prices.
Plans for a delayed 300 MW wind farm in Kenya can now proceed after lenders agreed to rely on the government's assurance that it backed the plan, instead of proper guarantees, the chairman of the project said.
