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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
Gold, platinums drag JSE down
February 15, 2013--The JSE closed the Friday session in the red with gold and platinum miners making substantial losses on the day, after prices of the metals retreated substantially.
At 17:00 the All Share [JSE:J203] index had lost 0.13% to 40 681.34 points‚ with the gold index plummeting by 4.83% and platinums tumbling 3.70%.
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Source: FIN24
Bonds off best levels on softer rand
February 15, 2013--The bond market was firm but off its best level in afternoon trade on Friday as traders squared positions ahead of next week's inflation release, which will use new weights.
"The rand gave bonds a boost in the morning‚ but then caused them to move off their best levels in the afternoon‚” a local bond trader said.
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Source: FIN24
Rand slips before G20
February 15, 2013--The rand slipped in quiet midday trade on Friday as traders squared off positions before the Group of 20 (G20) statement on Saturday.
At 12:45‚ the rand was bid at R8.8050/$ from Thursday’s close of R8.7788. The local currency was bid at R11.7393/€ from its previous close of R11.7191 and at R13.6428 against sterling from R13.5831 before. The euro was bid at $1.3330 from $1.3350 at Thursday’s close.
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Source: FIN24
Miners pull JSE to two-week low
February 14, 2013--The JSE slipped to a two-week intraday low on Thursday, led down mainly by mining shares.
At 12:38 the All Share [JSE:J203] index was 0.61% lower at 40 559.75 points‚ with the Top 40 - (Tradeable) [JSE:J200] shedding 0.70% and platinums sliding 3.35%‚ effected mainly by a big drop in Impala Platinum’s (IMP’s‚ Implats’) share price after it released interim results earlier in the day.
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Source: FIN24
