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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
Rand tracks euro weaker
February 14, 2013--The rand tracked a weakening euro just after noon on Thursday. The latter softened against the dollar following disappointing GDP figures out of Germany and other European countries this morning.
“The worse than expected local mining production figures this morning did not really have an affect on the rand. No local news attributed to the softer rand. It is the stronger dollar against the euro that pushed our local currency down‚” a local trader said.
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Source: FIN24
Bonds weaker on softer rand
February 14, 2013--The South African bond market was weaker in midday trade on Thursday on the back of a weaker rand.
“We are weaker on the back of the softer rand‚ but appear to have stabilised for the moment. We are watching the rand and if it goes above R8.9 then we could see some renewed selling‚” a local bond trader said.
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Source: FIN24
JSE reverses losses, miners lead
February 13, 2013--The JSE made a sharp reversal in late trade on Wednesday after the US released retail sales. The local bourse had been trading flat for most of the day prior to that.
Miners‚ specifically platinum miners‚ provided the most support on the day‚ due to a higher platinum price because of supply concerns. At 17:08 local time the platinum price was quoted at $1‚722/oz from $1‚716/oz on Tuesday.
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Source: FIN24
Stanlib launches property exchange-traded fund
February 12, 2013--Asset manager Stanlib's property exchange-traded fund (ETF) will begin trading on Wednesday, tracking the performance of the FTSE/JSE SA listed property index (SAPY).
The property ETF forms part of Stanlib’s long-term strategy to cover all asset classes in low-cost index products.
"Property is an entirely different asset class and should be managed as such," Stanlib’s head of ETFs, Len Jordaan, said on Tuesday. "This is why a specialist ETF makes sense in the current market.
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Source: Yahoo News South Africa
