JSE stock exchange unveils new Africa strategy

This morning South Africa’s securities exchange, the JSE Ltd, announced a revised strategy to attract more listings from other African countries, as international interest soars. The JSE is closing its Africa Board and moving the 2 listed companies onto the Main Board or to Alt-X if they are growth companies. The JSE is also stepping up trading in depository receipts (DRs) and offering a broader range of exchange-traded funds and debt instruments.

JSE boosts net profit by 22% for first half

South Africa’s JSE Ltd reported a 22% increase in net profit after tax to R253.8 million for the 6 months to June, driven by a 7% increase in revenue combined with controlled operating costs. The bourse declared a special dividend of 210c/share.

Foreign funds and SA bonds and equities

Flows into South African bonds turned positive in the last few days, although money is still being moved out of equities. For much of 2011 (year to date) investors had followed the global trend of less appetite for emerging markets and there have been outflows from South African bonds and equities after 2010 saw record inflows.

Alternative investor Brait to raise R6 bn and looks to long-term

South Africa’s largest private equity company is transforming itself into a long-term investment holding company and aims to raise ZAR 6 billion ($857.7 million), according to a report on Bloomberg. Brait SA, listed on the JSE Ltd, will use the funds to purchase a long-term stake of 24.6% of Pepkor Ltd, South Africa’s biggest clothes retailer, and 49.9% of Premier Foods.

London and Johannesburg stock exchanges migrate to Millennium Exchange system

The main trading platform of the London Stock Exchange was successfully switched from the previous system yesterday (14 Feb) to the Millennium Exchange computer system. Africa’s biggest exchange, the JSE Ltd announced on 3 Feb that it had concluded a licensing agreement with MillenniumIT to move its equity market trading activity onto Millennium Exchange, planned for the first half of 2012. Millennium IT’s systems are widely installed in African stock exchanges.

JSE reports 12% jump in commodity derivatives trades in 2010

South Africa’s JSE Ltd traded 2.1 million commodity derivative contracts in 2010, up 12% on the previous year but still below the record 2.5 mn contracts traded in 2008. White maize accounted for 46% of all grains traded on the JSE, wheat accounted for 27% and yellow maize 16%.