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CPI, trade data boosts rand
June 19, 2013--The rand was firmer in late trade, buoyed by better than expected consumer price index and trade data.
At 18:00 the rand was bid at R9.9599/$ from an overnight close of R9.9999/%.
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Source: FIN24
Economic activity loses traction - Sarb
June 19, 2013--Economic growth in the first quarter of 2013 remained subdued due to contraction in the manufacturing sector, the SA Reserve Bank (Sarb) said on Wednesday.
In its quarterly bulletin released on Wednesday, the Sarb said economic activity lost traction in the first quarter as GDP registered growth of just 0.9%.
This was less than the current pace of population growth, the bank said.
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Source: FIN24
JSE ends firmer, rand hedges lift
June 18, 2013--Acquisition talks between two pharmaceutical giants and a weaker rand, which favours dual-listed stocks, led the JSE to post strong gains on Tuesday.
At 17:00‚ the JSE All Share [JSE:J203] index was 1.69% higher at 41 003.25 points. Broad gains were made across all sectors‚ with the exception of gold‚ as the market played catch up from lost trade on Monday due to the public holiday. Market participants were also gearing up for futures close-out on Thursday.
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Source: FIN24
Rand remains weak ahead of US data
June 18, 2013--The rand remained weaker against major currencies in late trade ahead of key event risks on Wednesday, including the Reserve Bank June Quarterly Bulletin.
At 18:00 the rand was bid at R9.9738/$ from an overnight close of R9.9551/$.
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Source: FIN24
Economic Report on Africa 2013
Making the Most of Africa's Commodities: Industrializing for Growth, Jobs and Economic Transformation
June 17, 2013--African countries have a real opportunity to capitalize on their resource endowments and high international commodity prices, as well as on opportunities from changes in the global economy to promote economic transformation through commodity-based industrialization
and to address poverty, inequality and unemployment. If grasped, these opportunities will help Africa promote competitiveness, reduce its dependence on primary commodity exports and associated vulnerability to shocks and emerge as a new global growth pole.
view the Making the Most of Africa’s Commodities: Industrializing for Growth, Jobs and Economic Transformation report- United Nations Economic Commission for Africa
Source: United Nations Economic Commission for Africa
Rand sheds further value
June 14, 2013--The rand shed further value in late afternoon trade, as rumours continued to drive a volatile market.
“Today has been an extremely volatile day in the market with wild gyrations depending on the headlines we see‚” said Jim Bryson a currency trader at RMB.
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Source: FIN24
JSE ends higher despite volatility
June 14, 2013--The JSE continued to exhibit some volatility on Friday however positive global sentiment saw the local bourse end higher and regain some of the week's losses.
“The market is having a better day today‚ although the volumes aren’t that convincing‚” said Ryan Wibberley‚ head of equity dealing for emerging markets at Investec Asset Management.
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Source: FIN24
JSE recovers slightly on US data
June 13, 2013--The JSE recovered slightly on Thursday as better than expected US data painted a positive picture for the prospect of a global recovery.
US jobless claims declined for the second straight week‚ dropping by 12 000 to 334 000. US retail sales showed American consumers were in better shape with an increase of 0.6% in May.
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Source: FIN24
Rand gains ground
June 13, 2013--The rand strengthened in late trade on Thursday despite good US data that boosted the dollar against the euro.
“Some days the rand can do no good and other days it can do no bad. Today is one of those days when the rand becomes Teflon coated and shrugs off the bad news‚ while tomorrow everything sticks‚” said a local currencies trader.
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Source: FIN24
Economy shows some muscle-index
June 13, 2013--BankservAfrica's Economic Transaction Index (Beti) showed encouraging signs of the economy clawing back in May after three quarters of stagnation, the electronic payment transaction company said on Thursday.
While the BETI figures for May were not as strong as those for April, they still revealed growth of 2.9% year-on-year.
BankservAfrica's regulated products CEO Brad Gillis, said the negative sentiment in the South African economy "may not be completely justified".
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Source: FIN24