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FSB welcomes new SA regulatory model
February 6, 2013--The international Financial Stability Board (FSB) has welcomed SA's planned reforms and agrees that a shift to a twin peaks model provides a good opportunity for SA to streamline responsibilities and elevate the importance of market conduct regulation.
The FSB is chaired by Mark Carney‚ Governor of the Bank of Canada and soon to be Governor of the Bank of England. Its secretariat is located in Basel‚ Switzerland‚ and hosted by the Bank for International Settlements (BIS).
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Source: FIN24
JSE flat amid consolidation
February 5, 2013--The JSE lacked direction on Tuesday in the absence of fresh catalysts, while construction stocks remained under pressure amid an investigation of alleged collusion in the industry.
At 12:45‚ the All Share [JSE:J203] index was flat (0.02%) at 40 578.98 points‚ with the banking index lifting 1.22%.
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Source: FIN24
Bonds little changed after auction
February 5, 2013--The South African bond market was little changed in midday trade on Tuesday after the weekly bond auction at 11:00.
Dealers said the release of the Quarterly Labour Force Survey (QLFS) at 11:30‚ which showed the unemployment rate dropped to 24.9% in the fourth quarter‚ compared with the Investec forecast of a rise to 26.0%‚ from 25.5% in the third quarter.
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Source: FIN24
EM companies commit 'original sin' on debt
Rash of bonds raise fears over foreign currency borrowings
February 4, 2013--A roaring trade in emerging market bonds has triggered fears an EM debt bubble is inflating.
Never before has the developing world enjoyed such low borrowing costs, at least in US dollars. The risk is that some emerging economies – and their companies – may be borrowing too much in foreign currencies.
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Source: FIN24
JSE at all-time high, miners shine
February 4, 2013--A strong surge in gold and platinum counters once again pushed the JSE higher on Monday morning as it did on Friday, this time to a new all-time high with Lonmin [JSE:LON] continuing its upward path after gaining 12% on Thursday after reporting stronger production numbers and extending gains on Friday.
At 9:29am‚ the All Share [JSE:J203] index was up 0.44% at 40‚780.31 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.41% to 36‚366.44 points‚ with gold and platinum counters gaining 2.46% and 1.88% respectively.
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Source: FIN24
Bonds softer on weaker rand
February 4, 2013--The bond market was softer in midday trade on Monday on a weaker rand. Dealers said the release of the new consumer price index (CPI) weights at 09:00 had no effect on the bond market as it had already been priced in.
“The rand is the main factor today as the CPI weights had already been priced in‚” a local bond dealer said.
At 11:36 the benchmark R186 was trading at 7.360% from 7.280% at Friday’s close.
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Source: FIN24
Nigeria: NSE Index Rises Further By 0.12 Percent
February 1, 2013--Investors' value in the equities sector of the Nigerian Stock Exchange further firmed up yesterday as the twin indicators continued on the upbeat resulting in a further rise by 0.12 per cent.
Analysis of price movement showed that 40 stocks gained weight at the close of the day's transactions while 26 others constituted the losers' table.
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Source: AllAfrica.com
Top 40 index hits lifetime high
February 1, 2013--South Africa's index of blue chips climbed to a fresh record high on Friday, spurred by renewed interest in risky assets such as emerging market equities.
The Top 40 - (Tradeable) [JSE:J200] index at 11:18 was up 0.76% to 36 378.88 after hitting 36 385.91, its highest level ever.
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Source: FIN24
JSE lower as retailers continue slide
January 31, 2013--The JSE was lower in early morning trade with platinums providing some support, while retailers were once again under pressure after a large pullback on Wednesday due to a worse than expected Cashbuild (CSB) trading update.
The local market is awaiting the December PPI and December trade data due later today.
At 9:26 the JSE All Share [JSE:J203] index was 0.25% lower at 40 358.14 points‚ with the Top 40 - (Tradeable) [JSEJ200] index giving back 0.26% to 35 987 points. Platinums were 0.18% higher‚ while retailers gave back 1.16%.
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Source: FIN24
Bonds firmer on PPI and rand
January 31, 2013--The South African bond market was firmer in midday trade on Thursday after the December producer price index (PPI) data at 11:30 came in better than expected, while a stronger rand also helped the bond market.
SA’s producer inflation was expected to have increased to 5.5% year on year (y/y) in December from 5.2% y/y in November‚ a survey by I-Net Bridge found. The actual December number was 5.2% y/y.
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Source: FIN24