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Rand races on Fed stimulus move
September 19, 2013--The rand is trading near four-month highs against the dollar,
buoyed by an unexpected US Federal Reserve decision to keep its asset-buying programme intact.
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Source: FIN24
Rand holds steady ahead of inflation data
September 18, 2013--The rand traded sideways against the dollar early on Wednesday with investors bracing for potentially poor inflation data and the US Federal Reserve's decision on quantitative easing.
At 08:37, the rand was at R9.8045/$, not far off its close in the New York market on Tuesday.
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Source: FIN24
Rand holds steady at five-week highs
September 17, 2013--The rand traded within a few cents of the previous day's five-week highs on Tuesday and should tread in a narrow range in the absence of market-moving data.
By 08:50, the local currency was at R9.8310/$, slipping just 0.3% from Monday's close in New York.
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Source: FIN24
JSE down as gold firms weigh
September 16, 2013--South African stocks ended almost where they started on Monday, as a global stock rally failed to take root in Johannesburg, where gold producers maintained their downward march in the wake of bullion's falling price.
Gold Fields shed 1.8% and Harmony 1.7% as gold's spot price extended a recent decline, losing 1 percent with markets betting the US Federal Reserve will begin tapering its commodity-boosting monetary stimulus as early as this month.
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Source: FIN24
Rand hits 5-week high
September 16, 2013--The rand has touched its strongest level in five weeks amid speculation the US Federal Reserve may keep an accommodative policy stance,
boosting emerging currencies.
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Source: FIN24
Nigeria: Investors Lose N1.3 Trillion Share Value in Three Months
September 16, 2013--The value of shares listed on the floor of the Nigerian Stock Exchange (NSE) declined by N1.309 trillion in the last three months.
The market capitalization of the equities on the main board reached an all time high of N12.854 trillion on 11th June 2013 to close at N11.545 trillion on 11th September 2013.
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Source: AllAfrica.com
JSE at record highs, retailers shine
September 13, 2013--South Africa's shares closed rebounded on Thursday to hit their second record closing peaks this week as investors moved out of sinking gold producers and into sectors such as retail.
Discount retailer Massmart and generic drug maker Aspen Pharmacare led the upward drive, with both closing around 4 percent higher.
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Source: FIN24
Rand flat, market on edge ahead of Fed meeting
September 13, 2013--The rand held its ground above the psychological 10 mark against the dollar on Friday, but was unlikely to post significant gains due to nervous trade ahead of the US Federal Reserve's meeting next week.
Investors are still unsure whether the world's leading central bank will start to scale back its monthly asset purchases, which have resulted in billions of dollars of cheap money flocking to emerging markets.
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Source: FIN24
JSE picks up on retail rally
September 12, 2013--The JSE All-share index hit a new life high of 43 557 at lunch time on Thursday, bolstered by a rally in retail shares like Clicks and Massmart, which were both around 3% firmer.
The retail industry was among the biggest winners with the share price of Clicks gaining 3.32% to trade at R57.50, that of Massmart lifting 3.18% to R171.79 and that of Truworths up 3.04% to R89.24.
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Source: FIN24
Rand holds steady, factory data a boost
September 12, 2013--The rand hovered near four-week highs against the dollar on Thursday, tracking a generally firm tone in emerging markets, while official local data pointed to a recovery in the key manufacturing sector.
The rand traded at R9.8875 against the greenback by 08:55, barely changed from its previous close of R9.8750 and within easy sight of Wednesday's high of R9.8550, a level last seen on August 12.
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Source: FIN24
