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JSE up a fraction, gold miners weigh
November 27, 2012-- The JSE was a fraction higher on Tuesday in line with world markets with gold miners the worst performers on the bourse after the sector had a good run on Monday.
At 17:00‚ the All Share [JSE:J203] index was up 0.10% to 37 805.80 points‚ with the gold index giving back 1.41%.
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Source: FIN24
Rand shrugs off weak GDP figure
November 27, 2012--The rand was a little stronger at noon on Monday after shrugging off the weak local GDP figure as a soft number was expected.
“The rand strengthened ever so slightly but is trading in narrow ranges. The weak GDP figures did not affect the market as a weak figure was expected. It looks as though the December holiday has hit the currency market already‚ with lacklustre trade prevailing in a narrow range‚” a currency trader said.
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Source: FIN24
Strikes dent SA growth, slows to 1.2%
November 27, 2012--South Africa's economic growth slowed to 1.2% in the third quarter of 2012 on a seasonally adjusted and annualised basis, compared with a revised 3.4% rise in the second quarter, data showed on Tuesday.
On an unadjusted year-on-year basis, economic growth was at 2.3% in the third quarter from a revised 3.1% in the second quarter.
A Reuters poll of 15 economists expected growth to have slowed to 1.5% in the third quarter because of strikes in the mining sector.
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Source: FIN24
Strong demand for Tanzania T-Bills
November 27, 2012--Yields are rising on Tanzania's 364-day Treasury bills, although demand continues strong, according to the auction results posted on the website of the central Bank of Tanzania and to local news reports citing a market report from Barclays Bank.
The average yield-to-maturity was 13.43% (up from 13.18% at the previous auction) on the 364-days bills, 12.86% on the 182-days paper, 11.76% on 91-days and 7.25% on 35 days.
The total amount sought in the 21 November auction was TZS135 billion ($84.2 million) but this was oversubscribed and a total of TZS199bn was offered (48% over-subscribed), so the Government settled on taking TZS168bn. The biggest demand was for the one-year paper, with TZS87.7bn bid against TZS45bn offered with the Government taking TZS71bn. The 91-day was undersubscribed with TZS23bn bid against TZS40bn offered.
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Source: African Capital News
JSE tracks global markets weaker
November 26, 2012--The JSE closed in the red on Monday, taking its cue from lower global markets and awaiting a decision from eurozone finance ministers with regard to the next aid disbursement for Greece.
At 17:00‚ the All Share [JSE:J203] index was down 0.26% to 37 766.24 points after rallying nearly 3% last week.
Gold counters provided some upside gaining 1.05% on a stronger bullion price and banks shed some value in sympathy with off-shore banks coming off.
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Source: FIN24
JSE tracks global markets weaker
November 26, 2012--The JSE closed in the red on Monday, taking its cue from lower global markets and awaiting a decision from eurozone finance ministers with regard to the next aid disbursement for Greece.
At 17:00‚ the All Share [JSE:J203] index was down 0.26% to 37 766.24 points after rallying nearly 3% last week.
Gold counters provided some upside gaining 1.05% on a stronger bullion price and banks shed some value in sympathy with off-shore banks coming off.
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Source: FIN24
Rand hovers close to R9/$
November 26, 2012--The rand is expected to trade within a narrow range this week but could tip above the R9.00/$-level if Greece's lenders fail to agree on a bailout package.
The rand was at R8.8891/$ at 08:53 on Monday, barely changed from Friday's close.
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Source: FIN24
JSE closes flat, banks weigh
November 23, 2012--The JSE pared some earlier gains to close flat on Friday due to some profit taking after the bourse reached an all-time high on Thursday.
“It has been a relatively quiet trading day with a bit of strength in industrials due to SABMiller continuing to move up after a strong run yesterday after releasing their interim results‚” said Guy Algeo‚ director at Imara SP Reid.
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Source: FIN24
Rand firms in quiet market
November 23, 2012--The rand gained further ground against leading currencies in late trade on Friday, breaking below R8.90/$, tracking a firmer euro/dollar.
At 15:56‚ the rand was bid at R8.8946/$ from Thursday’s close of R8.9335. The local currency was bid at R11.4928/€ from its previous close of R11.4878 and at R14.1720 against sterling from R14.2272 before. The euro was bid at $1.2928‚ from Thursday’s close of $1.2873.
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Source: FIN24
Rand, bonds firm after rate unchanged
November 23, 2012--The rand and government bonds firmed slightly after the central bank kept rates at 5% on Thursday as expected.
The rand firmed immediately after the announcement and was at 8.9309/$ by 13:25 GMT compared to 8.944 beforehand.
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Source: FIN24
