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JSE tops 40 000
January 2, 2013--The JSE All-share index, the broadest measure of Johannesburg stock performance, topped 40 000 for the first time in its more than 17-year history on Wednesday, propelled by the US fiscal deal that sparked a global equity rally.
The All-share surged 2.07% to finish at 40 061.75, its highest finish since the index was launched in mid-1995.
The benchmark Top-40 also booked a record close, jumping 2.4% to 35 630.85.
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Source: FIN24
Rand flat after US averts fiscal cliff
January 2, 2013--The rand was flat just before noon on Wednesday after the initial euphoria of the US averting the fiscal cliff waned.
“In the short-term we have seen the rand strengthen on the back of the fiscal cliff news. Investors are taking this opportunity to increase their appetite for equities‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.
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Source: FIN24
Index Rises 35.4% as Equities Gain N2.4tn
January 1, 2013-Nigerian equities rose to a 32-month high yesterday to close the year with a growth of 35.4 per cent, appreciating from 20, 730.63 at the beginning of the year to 28,078.81.
Specifically, the ASI rose 0.76 per cent to cross the 28,000 points psychological level. Similarly, the market capitalisation added N67.858 billion to close at N8.974 trillion.
In all, the equities market gained N2.441 trillion in 2012, rising from N6.533 trillion to N8.974 trillion. Speaking on the trading floor yesterday to market the end of trading in 2012, the Chief Executive Officer of the NSE, Mr. Oscar Onyema, said “For the first time in two years, the NSE All-Share Index (ASI) and market capitalisation hit their highest. This is a good development that needs celebrating.”
While the ASI rose by 35.4 per cent, the market capitalisation of equities, which is a product of prices and volume of shares, recorded a higher growth of 37.4 per cent.
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Source: This Day Live
Stocks end 2012 near record highs
December 31, 2012--South African stocks ended the year near record highs on Monday, after a 22% surge that marks their best annual return since 2009, lifted by a runaway performance from the booming retailing industry.
Equities have confounded market watchers this year, as shares largely shrugged off lacklustre economic growth and three months of crippling strikes in the crucial mining sector that sparked credit downgrades.
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Source: FIN24
Rand weakens on fiscal cliff fears
December 31, 2012--The rand weakened against the US dollar on Monday as traders eyed the outcome of talks in the US concerning the fiscal cliff.
“The rand is still relatively strong from the start of the month‚ we are all still eyeing the fiscal cliff debate in the US. This will be the biggest influence on the local currency‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.
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Source: FIN24
Fiscal cliff keeps JSE in the red
December 28, 2012--Concerns about the stalled talks on the US fiscal cliff kept the JSE in the red on Friday.
The US goes over the so-called fiscal cliff at midnight on Monday when stiff tax hikes and drastic spending cuts take effect.
Economists say that would send the world's biggest economy back into recession.
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Source: FIN24
Bonds bid weaker on softer rand
December 28, 2012--The South African bond market was bid weaker in quiet trade at midday on Friday on the back of a softer rand.
At 11:40 the benchmark R186 was bid at 7.260% and offered at 7.255% from a previous close of 7.230%. The R157 was bid at 5.330% and offered at 5.310% from 5.310% previously and the R207 was bid at 6.260% and offered at 6.250% from its overnight close of 6.250%.
The rand was last bid at R8.5064/$ from R8.4778 previously.
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Source: FIN24
Miners pull JSE higher
December 27, 2012--Mining shares nudged the All Share [JSE:J203] index up just after noon on Thursday, as the SA share market looked set to wrap up the year on solid ground.
At 12:35‚ the all share index was up 0.30% to 39 306.75 points. Platinum stocks climbed 0.78% for a 12% gain this month‚ while resources have risen 0.63% on the day.
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Source: FIN24
Bonds a tad softer in thin trade
December 27, 2012--The South African bond market drifted slightly weaker in quiet afternoon trade despite a firmer rand.
At 3:40‚ the benchmark R186 was trading at 7.230% from a previous close of 7.210%. The R157 was trading at 5.320% from 5.290% previously and the R207 was untraded.
The rand was last bid at R8.4998/$ from R8.5657/$ previously.
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Source: FIN24
Rand gains on possible US cliff solution
December 27, 2012--The rand gained ground in late trade on Thursday on a firmer euro due to the prospect of the US averting the fiscal cliff before year-end.
Such a resolution would lead to risk on trade and would help the rand gain further value.
“The rand is a bit stronger due to a firmer euro‚ amid thin and quiet trade and low volumes seen. We will continue trading in the R8.45 to R8.60 range until there is a clear idea of how US politicians are going to resolve the cliff issue‚” a local trader said.
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Source: FIN24