| Good News for South Africa: Rand Strengthened against the US Dollar | |
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Key Update: The US Fed Loses ‘Patience’ as South Africa Rejoices (Part 3 of 3) (Continued from Part 2) More good news for South Africa
South Africa is trending. Yes! It did cruise into the ICC Cricket World Cup semi-finals by its nine wicket win against Sri Lanka in Sydney. However, that isn’t what made investors happy in the country. Statistics South Africa reported inflation and retail sales figures for the country on March 18.
Consumer prices in South Africa dropped sharply in February. This was reflected in the dip in the inflation rate. The South African rand finally found some respite from the upward trending US dollar (UUP). The rand gained about 2.31% against the US dollar on March 18. The exchange rate had been 12.35 rands against one US dollar. The exchange rate was boosted up to 12.07 rands against one US dollar.
The iShares MSCI South Africa (EZA) is invested in South African equity. It gained 4.19% on March 18. South African firms like Gold Fields Ltd. (GFI), AngloGold Ashanti Ltd. (AU), and Harmony Gold Mining Company Ltd. (HMY) gained 8.90%, 8.01%, 6.36%, respectively.
Inflation is down in South Africa
According to Statistics South Africa, the headline inflation rate for February stood at 3.9%. This was within the South African Reserve Bank’s target range of 3%–5%. Inflation figures came in line with expectations. They saw a drop of 50 basis points, or bps, from January’s 4.4%. Core inflation excludes volatile food and energy prices. The country’s core inflation stood at 5.8% for February.
In South Africa, retail sales grew by 1.7%. This was below median market expectations of a 2.5% growth over the previous year’s figures. Although the figures didn’t come within the expectations, they offered encouragement. In South Africa, economic growth is expected to slow in the first quarter.
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Gold Fields ltd
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PRODUCTEUR |
CODE : GFI |
ISIN : US38059T1060 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Gold Fields est une société de production minière d'or basée en Afrique Du Sud. Gold Fields est productrice d'or, de cuivre au Ghana, au Perou, en Australie et en Afrique Du Sud, en développement de projets d'or au Mali, et détient divers projets d'exploration au Perou. Ses principaux projets en production sont ST IVES MINE et AGNEW en Australie, BEATRIX MINE, DRIEFONTEIN, KLOOF MINE, SOUTH DEEP, KLOOF et BEATRIX en Afrique Du Sud, DAMANG, TARKWA et DAMANG PROJECT au Ghana et CERRO CORONA au Perou, son principal projet en développement est KOMANA au Mali et ses principaux projets en exploration sont LOBO aux Philippines et CHUCAPACA et CANAHUIRE au Perou. Gold Fields est cotée aux Etats-Unis D'Amerique, en Afrique Du Sud et en France. Sa capitalisation boursière aujourd'hui est 11,7 milliards US$ (10,5 milliards €). La valeur de son action a atteint son plus bas niveau récent le 10 novembre 2000 à 1,69 US$, et son plus haut niveau récent le 13 septembre 2024 à 14,21 US$. Gold Fields possède 821 530 048 actions en circulation. |