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Bonds stronger on firmer rand
February 22, 2013--The South African bond market was stronger in quiet midday trade on Friday, on the firmer rand.
The inflation-linked bond (ILB) auction at 11am saw bids worth R410m for the I2025‚ R420m for the I2038 and R350m for the I2050. Last week the Treasury received bids worth R1.16bn for these three bonds.
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Source: FIN24
Nigeria: NSE- Investment One Projects 15.78 Percent Growth in 2013
February 22, 2013--Analysts at Investment One Financial Services Limited have project 15.78 percent return for equities listed on the Nigerian Stock Exchange, NSE in 2013
In their review of the financial sector's performance in the previous year, the analysts said the market will likely surpass the projected figure barring any unforeseen circumstance.
They noted that their projection was based on stability in fixed income securities and stable outlook for the financial services markets.
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Source: All Africa.com
JSE has biggest one-day fall for 2013
February 21, 2013--The JSE experienced its biggest one-day fall since January 2 on Thursday, shedding almost 2% on the day, after a wide selloff in commodities across the world was extended from Wednesday, putting the JSE and other global markets firmly in risk-off mode.
The selloff was triggered by growing investor concerns after news on Wednesday that the third round of US quantitative easing (QE3) could end earlier than expected‚ which would reduce liquidity levels‚ which have benefited commodity prices and global markets of late.
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Source: FIN24
Bonds softer despite equity market losses
February 21, 2013--The South African bond market was softer in midday trade on Thursday despite the global equity market selloff that normally results in a flight to safe haven assets such as bonds.
“We would normally gain from an equity market selloff‚ but because the rand is weaker as well‚ foreigners are not buying our bonds and local asset managers are waiting to see what next week’s budget brings‚ so they are sitting on the sidelines‚“ a local bond trader said.
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Source: FIN24
Rand weakens on fears of US data
February 21, 2013--The rand lost ground on Thursday following revelations that the third round of US quantitative easing (QE) could end earlier than previously thought.
The minutes of the Federal Open Market Committee (FOMC) meeting suggested that officials are concerned about the dangers of an even bigger balance sheet and that the US Federal Reserve will cut back on open-ended asset purchases.
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Source: FIN24
JSE at 3-week low as miners weigh
February 20, 2013--The JSE slipped to a fresh three-week intraday low on Wednesday, dragged down mainly by a selloff in gold and resource shares.
At 12:19 the All Share [JSE:J203] index was down 0.71% to 40 444.06 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 0.79% and the gold and resource indices shedding 2.47% and 2.44% respectively.
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Source: FIN24
Industrials buoy JSE, retailers weigh
February 19, 2013--The all share index closed in the black on Tuesday, with retailers and gold counters showing losses, which were offset by gains in the industrial and financial indices.
At 17:00 the All Share [JSE:J203] index was up 0.54% at 40 732.52 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.65%.
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Source: FIN24
Bonds firmer despite weaker rand
February 19, 2013--The South African bond market was firmer in afternoon trade on Tuesday despite a weaker rand, which recovered from an intraday worst level of R8.9463/$ to around R8.90/$.
"We gained after the weekly bond auction‚ but there was a lack of follow-through in the afternoon‚ so volumes have been disappointing” a local bond trader said.
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Source: FIN24
Platinums hard hit as JSE weakens
February 18, 2013--The JSE experienced a selloff in the mining space on Monday, with platinum bearing the brunt of it due to labour woes in the sector.
At 17:00‚ the All Share [JSE:J203] index was down 0.41% to 40 512.76 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also losing 0.41%.
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Source: FIN24
Bonds flat in lacklustre session
February 18, 2013--The South African bond market lacked fresh impetus to move in either direction on Monday, with the public holiday in the US adding to a quiet trading session.
The release of the domestic consumer price index (CPI) on Wednesday is‚ however‚ expected to potentially move the fixed income market‚ traders said.
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Source: FIN24