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JSE flat as miners erode early gains
May 24, 2013--The JSE was flat at midday on Friday as losses in mining started to eat away at the morning's earlier gains.
“We’ve entered a period of volatility there’s no doubt about that‚” said Ryan Wibberley‚ an equity dealer at Investec Asset Management
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Source: FIN24
Bonds flat after ILB auction
May 24, 2013--South African bonds were little changed in midday trade on Friday after the inflation-linked bond (ILB) auction.
“Trading has been dominated by position squaring ahead of the long weekend for our overseas peers as both the UK and US are on holiday on Monday. At this stage guys are just looking to stay out of trouble‚ which is why the market is so flat‚” a local bond trader said.
At 11:31 the benchmark R186 was trading at 7.075% from 7.070% at Thursday’s close.
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Source: FIN24
JSE down as world markets drop
May 23, 2013--The JSE came off lightly compared to other world markets on Thursday morning. The local bourse was down, but nowhere near as badly as the Japanese Nikkei, which tumbled more than 7%.
The Nikkei shed value after US Federal Reserve (Fed) Chairman Ben Bernanke suggested on Wednesday the Fed could scale back its bond purchases in the coming months if the US economy begins to “see further signs of traction”.
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Source: FIN24
Rand under new pressure
May 22, 2013-The rand came under renewed pressure in late trade after Fed chairman Ben Bernanke's speech.
The rand shed all its intraday gains after US Federal Reserve chairperson Ben Bernanke said the bank needed to see a sustained US economic recovery before it eased up on its quantitative easing programmed
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Source: FIN24
JSE hit record high on weaker rand
May 21, 2013--South Africa's JSE Top 40-(Tradeable) [JSE:J200] blue-chip index hit a lifetime high on Tuesday as a weaker rand currency at helped boost some exporters such as Anglo American [JSE:AGL] and Kumba Iron Ore [JSE:KIO].
Exporters benefit from a depreciating rand, which lifts their profits when overseas earnings are brought home.
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Source: FIN24
Rand plummets through R9.60/$
May 21, 2013--The rand slid to its lowest levels against the dollar in four years as investor confidence saw a sell-off in bonds.
Nomura's emerging markets analyst Peter Attard Montalto said the recent move to breach those highs was in part due to dollar strength thanks to the moves in real yields there.
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Source: FIN24
Bonds weaker on rand, wage demands
May 20, 2013--South African bonds were weaker in midday trade on Monday on a softer rand and certain wage demands being made which are ten times higher than inflation.
“The softer rand and the unrealistic wage demands in the mining sector have hurt our bonds‚” a local bond trader said.
At 11:51 the benchmark R186 was trading at 6.930% from 6.820% at Friday’s close.
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Source: FIN24
Bonds weaken on negative SA sentiment
May 17, 2013--South African bonds weakened in quiet midday trade on Friday as the bond market reflected the negative foreign investor perception of SA.
“What a difference a week makes! A week ago we were at record low yields‚ but then Amplats came out with its fudge on ‘right sizing’ and since then we have just gone downhill‚” a local bond trader said.
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Source: FIN24
Rand hits 4-year low
May 17, 2013--The rand hit a four-year low in early Friday trade amid concerns about more labour unrest in the platinum mining sector and its potential to inflict wider damage on Africa's biggest economy.
The rand fell to R9.403/$ at 08:14, extending its declines beyond the R9.3845 low hit in the previous session. The South African currency was last at these levels in April 2009.
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Source: FIN24
Nigeria's Oil Sector At Crossroads-Report
May 16, 2013--The Resources Governance Index of the Revenue Watch Institute (RWI) has ranked Nigeria weak in its oil revenue.
Report of the Institute for 2013 released yesterday in the United States said Nigeria's hydrocarbons sector is at a crossroads as a result of the current efforts to pass the Petroleum Industry Bill.
The report ranked Nigeria 40 out of 58 countries studied.
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Source: AllAfrica.com
