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JSE cuts initial losses in volatile trade
June 7, 2013--The JSE rebounded from initial losses to trade higher on Friday in volatile trade ahead the closely watched US jobs report for May.
At 12:54‚ the JSE All Share [JSE:J203] index was up 0.42% to 40 509.50 points‚ trimming the weekly decline to 3.50%.
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Source: FIN24
Bonds softer on weaker rand
June 7, 2013--South African bonds were trading mostly softer in midday trade on Friday due to a weaker rand.
The local currency has dropped about 10c per dollar on Friday from its overnight levels.
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Source: FIN24
Industrials, banks knock local stocks
June 6, 2013--The JSE fell for the fourth day in a row on Thursday, taking the losses in the all-share index to more than 3% since Monday, as rand volatility continued to weigh on large-cap stocks.
The global backdrop also remains largely negative ahead of the US jobs report for May on Friday that is set to provide clues about the health of the world’s largest economy.
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Source: FIN24
Bonds soft but off worst levels
June 6, 2013--The South African bond market was soft in midday trade on Thursday, but bonds were off their worst intraday levels as the rand moved back below the R10 per dollar level.
South African Reserve Bank governor Gill Marcus gave the keynote speech at the Bureau for Economic Research conference this morning and said that the inflationary effect of the weaker exchange rate had so far been muted.
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Source: FIN24
Rand firmer after Marcus speech
June 6, 2013--The rand appreciated against the greenback on Thursday after Reserve Bank governor Gill Marcus downplayed a possible future interest rate cut, maintaining her stance on monetary policy.
There were significant upside risks to the inflation outlook both from the weaker rand and the possibility of high wage settlements‚ Marcus said on Thursday at a conference hosted by the Bureau for Economic Research.
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Source: FIN24
Nigeria: NSE Market Capitalisation Hits 2008 Peak
June 6, 2013--A three-day rally by the bulls saw the market capitalisation of the Nigerian Stock Exchange (NSE) hit its 2008 peak of N12.6 trillion yesterday just as year-to-date growth of the NSE All-Share Index stood at 40.5 per cent.
Dangote Cement Plc, which accounts for 28 per cent of the NSE capitalisation, was a major driver of the growth that pushed the market to its pre-meltdown level.
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Source: Allafrica.com
JSE closes in the red
June 5, 2013--The JSE closed in the red on Wednesday, in line with world markets, ending a period of good runs which was due for a correction.
Global markets were softer due to jitters about whether the US Federal Reserve would stop or slow its cheap money policies‚ which would push world markets lower.
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Source: FIN24
Bonds give back some gains, eye rand
June 5, 2013--The South African bond market gave back some of its recent strong ground in early trade on Wednesday, but market players are taking heart from the return of foreign buying.
"I think we just had too much of a good run yesterday- especially at the front end - so we are just giving back some of the gains this morning‚” said a local trader.
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Source: FIN24
JSE consolidates after losses
June 4, 2013--The JSE opened in positive territory on Tuesday morning, with banks and platinums recovering slightly after significant losses yesterday. Gold stocks also rebounded slightly.
“We’ve seen a small bounce in banks and resources but how long it will last is unknown‚” said Investec Asset Management equity dealer Kagiso Matlala.
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Source: FIN24
Bonds extend gains as rand dips
June 4, 2013--The bond market extended gains in late trade as the rand strengthened below the R9.90/$ handle on Monday.
“We were due for a bounce after last week’s sell-off.
"The rand is giving us some impetus‚ although it is too early to tell if this is a trend‚” a Johannesburg-based trader said.
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Source: FIN24