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Rand slips against dollar
December 31, 2013--The rand fell as much as 1.4% against the dollar on Tuesday and was on track for one of the steepest global losses for 2013, after a year in which labour strife weighed on investor sentiment.
The rand was trading at R10.5630/$, down 1.37% from Monday's close at R10.4200/$.
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Source: FIN24
JSE edges towards new high after record 2013
December 31, 2013--The JSE will be open for a half day on Tuesday before closing for the holiday, after stocks edged up nearly 1% on Monday to close near a lifetime high.
Investors snapped up blue chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year.
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Source: FIN24
Dow edges to new record
December 31, 2013--The Dow Jones Industrial Average kicked off a holiday-shortened week on Monday with a new record high, even as the other two indices stalled in sluggish trade.
At the closing bell, the Dow jumped 25.62 (0.16%) to 16,504.03, its fourth record close in the last five sessions
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Source: FIN24
New Pacts Ease Path Toward East African Single Currency
Agreements outline ten-year roadmap toward monetary union
Greater integration should sustain economic growth, boost efficiency
Payments system expected to speed cross-border payments, promote trade
December 30, 2013--Moves toward deeper economic integration among the countries of the East African Community (EAC)-Burundi, Kenya, Rwanda, Tanzania, and Uganda-have gained new impetus from agreements sealed in recent weeks.
The signing of a Monetary Union Protocol by community heads of state in Kampala, Uganda, on November 30 is a milestone outlining a ten-year roadmap toward monetary union. The formal launch of the East African Cross Border Payment System on November 25 is a significant operational step increasing monetary and economic integration.
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Source: IMF
No new year boom for JSE
December 30, 2013--The new year might start on a less festive note for the JSE, with most analysts and market commentators predicting a rather lacklustre year after strong gains made in 2013.
The week that was
Shares had a jolly time during the week of Christmas festivities and major indices ended Friday within spitting distance of their recent record highs. The Top-40 index gained around 2% on Friday alone as most shares continued the stronger trend of the last week or so.
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Source: FIN24
SA stocks rise on global rally
December 27, 2013--South African stocks jumped more than 2% on Friday, gaining for the seventh straight session and coming within sight of lifetime highs on the back of a record run in global markets.
The gains were across the board with Africa's top bullion producer AngloGold Ashanti the biggest advancer among blue chips, adding more than 5 percent.
Rand slides to 3-week lows
December 27, 2013--The rand slid more than 1% to a 21-day low against the dollar on Friday as political turmoil in Turkey made investors nervous about high-yielding but riskier emerging market assets.
Government bonds were not spared from the sell-off, with the yield for the benchmark 2026 note adding three basis points to 8.185% while that for the 2015 paper was up 2.5 basis points to 6.08%.
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Source: FIN24
SA stocks rise again
December 24, 2013--South African stocks put in a sixth straight day of gains on Tuesday in a shortened Christmas Eve session as renewed appetite for risk brought the market closer to life highs reached last month.
Among gainers, Blue Label Telecoms, which provides pre-paid cellular airtime, added 2.3% to R8.10 after the company said one of its units had acquired a data provider for around $30m (about R306.6m) that will open new channels for the distribution of its products and services.
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Source: FIN24
Rand flat in thin pre-holiday trade
December 24, 2013--The rand was virtually unchanged against the dollar in very thin Tuesday trade, with Johannesburg-based market players finishing early on the eve of Christmas.
Government bonds were also largely steady, with the yield for the benchmark 2026 note unchanged at 8.155% while that for the 2015 paper at the shorter end of the curve crept up half a basis point to 6.055%.
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Source: FIN24
SA stocks maintain late-year rally
December 23, 2013--South African stocks gained for a fifth straight session on Monday, as signs of improving U.S. economic growth helped markets ease into holiday mode with last-minute festive buying.
But bullion producers such as Harmony Gold remained out of favour as the gold price edged down and headed for its biggest yearly loss since 1981.
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Source: FIN24