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Mining shares drag JSE down
February 24, 2014--South African stocks ended slightly lower on Monday, weighed down by mining shares as worries about an economic slowdown in China pointed to reduced demand for industrial metals.
China is the biggest consumer of industrial metals such as copper, whose price fell to its lowest in more than two weeks.
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Source: FIN24
Rand recovers as market unwinds
February 24, 2014--The rand rallied to its strongest level in nearly a week against the dollar on Monday as market players unwound long dollar positions accumulated during the recent bout of global risk aversion.
Government bonds were also firmer, and yields retreated as the market expects Finance Minister Pravin Gordhan on Februaury 26 to keep a firm grip on public spending when he unveils the 2014 budget on Wednesday.
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Source: FIN24
JSE books record close, Aspen up
February 21, 2014--South African stocks capped the week with another record close on Friday, with drugs company Aspen Pharmacare rising after it flagged an increase in first-half earnings, while a weaker rand helped underpin mining shares.
Mining companies and other exporters have benefited from the rand's fall to a five-year low in recent weeks, a trend that some analysts see continuing.
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Source: FIN24
Rand firmer against the dollar
February 21, 2014--The rand turned firmer against the dollar in afternoon trade on Friday as global risk aversion eased, giving respite to emerging markets that took the rand towards R10.90/% resistance.
The rand strengthened to R10.9275/$ at 15:03 GMT, compared to a R10.9950/$ close in New York on Thursday.
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Source: FIN22
JSE dips, telecoms take a knock
February 20, 2014--South African stocks fell on Thursday, breaking a three-day winning streak as shares of telecoms giant MTN Group declined after the industry regulator said it would halve mobile interconnection rates sooner than previously planned.
MTN, Africa's largest mobile operator, is appealing the decision by the telecoms authority and analysts say it has a decent case but its shares still fell 1.34% to R198.
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Source: FIN24
Weak rand fuels rate hike expectations
January 20, 2014--Short-dated South Africa bonds fell to their lowest in a month on Thursday as weakness in the rand drove traders to price in an increased chance of further rate hikes this year.
The rand fell to a week low against the dollar during an emerging market sell-off exacerbated by investor views that the US Federal Reserve would press on with its planned tapering programme.
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Source: FIN 24
JSE edges to another record high
January 19, 2014--South African stocks hit record highs for the third straight session on Wednesday, with paper maker Mondi gaining ground after it said it expects higher full-year earnings.
Resource firms such as AngloGold Ashanti, Anglo American Platinum also advanced, as investors bet they would benefit from the weaker rand currency.
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Source: FIN24
Rand steady ahead of CPI data
February 19, 2014--The rand was steady against the dollar on Wednesday, amid hesitant trading before the release of January consumer inflation data.
The rand was at R10.8750 to the dollar at 06:14 GMT, in line with Tuesday's New York close, after retreating from a near one-month high of R10.8190 hit earlier in the week.
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Source: FIN24
The future of South Africa: seven things that need to happen
February 19, 2014--A new paper by the Institute for Security Studies (ISS), called South African Futures 2030, outlines several plausible scenarios for the country, based on the most likely implications and actions by South Africans and their leaders.
Of these, the most prosperous scenario is dubbed 'Mandela Magic'. In order for the country to be set on this pathway, seven strategic interventions are required.
The first is the reform of the state’s political institutions, Parliament in particular, to bolster accountability. Implementing the recommendations of the Van Zyl Slabbert Commission would go a long way in facilitating accountability between party leadership over rank-and-file legislative representatives, and the voters who the latter purport to represent.
view the South African Futures 2030 paper
Source: Institute for Security Studies
JSE lacks direction
February 18, 2014--Without direction from the American markets, which were closed on Monday for a public holiday, the JSE lacked direction on Tuesday morning.
The Asian markets were also mixed on Tuesday morning and a similar pattern emerged at the JSE where the All Share index was slightly down by midday, but resources were higher.
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Source: FIN24
