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Banks push JSE to record close
January 28, 2013--The JSE closed at a record high on Monday, despite some profit taking in some sectors during the day.
The bourse was bolstered by renewed optimism in US markets‚ which in turn put some pressure on the gold sector.
Locally banking and financial counters made gains while gold miners were the main laggards due to continued labour woes in the sector and the US market sentiment.
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Source: FIN24
Bonds flat in dull trade
January 28, 2013--The South African bond market was flat in dull midday trade on Monday as there was nothing to move the market.
“The rand seems to have found a stable level for the moment. We are waiting to see which way the rand lemmings move next‚ and bonds will follow at a more measured pace‚ but for now there is nothing to move the market‚ so volumes are very light‚” a local bond dealer said.
At 11:46 the benchmark R186 was trading at 7.345% from 7.350% at Friday’s close and 7.370% at Thursday’s close.
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Source: FIN24
JSE ends weaker on rand strength
January 25, 2013--The JSE ended 65 points below Thursday's record high of 40 604.59 on Friday as the stronger rand saw a sell-off in resource shares.
At 17:00‚ the All Share [JSE:J203] index was down 0.16% at 40 538.96 points‚ with the resources index giving up 1.35%‚ and the gold index dropping 3.39%.
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Source: FIN24
Rand stronger on global sentiment
January 25, 2013--The rand was stronger in late morning trade on Friday on improved global sentiment, and a strengthening euro.
"There was no major market news today. It was perhaps aided by slightly better global sentiment‚" said a local currency dealer.
At 11:27‚ the rand was bid at R9.0042/$ from R9.0686/$ at Thursday’s close.
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Source: FIN24
Bonds firm after ILB auction
January 25, 2013--The South African bond market was firmer in quiet midday trade on Friday after the inflation-linked bonds (ILB) auction at 11am saw bids exceed the amount offered for the first time this year.
"There was more interest in the ILB auction this week as the vanilla bond yields have moved higher due to the softer rand over the past week‚” a local bond dealer said.
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Source: FIN24
Weak rand pushes JSE to record high
January 24, 2013--Relatively buoyant demand for industrial and mining shares lifted the JSE to a fresh record high on Thursday, with a weaker rand still providing impetus in addition to the upbeat China manufacturing data.
At 12:28‚ the All Share [JSE:J203] index was up 0.73% to 40 479.64 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.81% to 36 029.86‚ another record.
“Rand weakness continues to dominate the theme even though the long-term picture for SA looks a bit murky against the backdrop of labour tensions‚” said Devin Shutte‚ a trader at stockbrokerage‚ Newstrading.
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Source: FIN24
Bonds off worst level on rand recovery
January 24, 2013--The South African bond market was softer but off its worst level in quiet midday trade as the rand recovered.
"The rand has helped us‚ but volumes remain light as we wait to see the tone of the central bank’s statement this afternoon‚" a local bond dealer said.
At 11:46 the benchmark R186 was trading at 7.310% from 7.305% at Wednesday’s close and 7.240% at Tuesday’s close.
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Source: FIN24
Rand edges lower on CPI data
January 23, 2013--The domestic currency market failed to translate CPI figures and an end to the farm strikes into a positive move during midday trade on Wednesday.
Mark Kalkwarf‚ senior portfolio manager at the Iquad Group‚ said it was surprising that the rand hadn’t experienced any rebound in response to the farm strikes being called off.
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Source: FIN24
Bonds ease after CPI increases
January 23, 2013--The South African bond market eased slightly in quiet midday trade on Wednesday after the release of the December consumer price index (CPI) at 10am came in at the consensus forecast of 5.7% year-on-year (y/y) from 5.6% y/y in November.
Forecasts among the eleven economists surveyed by I-Net Bridge ranged from 5.6% to 5.8%.
“Bond yields have edged a touch higher after the CPI data‚ but as it was in line with expectations‚ the move was subdued‚” a local bond dealer said.
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Source: FIN24
Africa Now the World's Second Fastest Economy, to Grow 5.3% in 2013
Africa is now the world's second fastest growing economy, and may grow even faster in 2013
Most African states have achieved political stability, which is important for investment
The risks include governance, economic and political exclusion, and weak institutions
January 23, 2013--Africa is already the world's second fastest growing economy after expanding 5% a year in the past two years, well above the global average,
and Africa’s GDP is on track to grow by 5.3% this year, a televised debate with the presidents of Nigeria and South Africa and business leaders reported today at the 43rd World Economic Forum Annual Meeting in Davos, Switzerland.
"If certain bottlenecks were taken out, I can easily see that doubling,” said Graham Mackay, Chairman, SABMiller, United Kingdom.
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Source: WEF (World Economic Forum)
