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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
Economic growth seen slowing to 1.5%
November 23, 2012--The pace of economic growth in South Africa probably halved in the third quarter, according to a Reuters poll, after wildcat mining strikes turned into the deadliest labour unrest since the end of apartheid in 1994.
Fifteen economists forecast growth in the quarter to have braked sharply, with the median forecast estimating that gross domestic product (GDP) grew 1.5% compared with 3.2% in the previous three months.
Recession in the euro zone also hurt demand for South African goods.
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Source: FIN24
All Share hits new record high
November 22, 2012--The JSE All Share [JSE:J203] index hit a fresh record high on Thursday after solid manufacturing data from the
United States and China sparked optimism about that global growth may be recovering.
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Source: FIN24
Industrials pull JSE higher
November 21, 2012--The JSE maintained its upward momentum on Wednesday to close higher, more or less in line with world markets, after they digested the news of the failure by Greek creditors to agree on releasing the next tranche of bailout funds.
Markets quickly shrugged off this news to trade firmer on the hope that an agreement will be reached on Monday when they meet again.
At 17:00‚ the All Share [JSE:J203] index was up 0.51% at 37 498.02 points‚ with the Top 40 - (Tradeable) [JSE:J200] index gaining 0.53% to 33 274.88 points. Industrials were the main gainers‚ adding 0.74%‚ while platinums gave up 1.05%‚ after a fair run over the last two days.
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Source: FIN24
Rand falls on euro woes
November 21, 2012--The rand fell more than 1.8% against the dollar on Wednesday, reaching its softest level in more than 3-1/2 years
and breaching the key 9.0 level as a renewed attack on the euro fuelled risk aversion.
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Source: FIN24
SA mining industry faces leaner times
November 21, 2012--A tough year for the mining industry lies ahead in the wake of recent industrial action, mounting cost pressure and shrinking profit margins, according to a report issued on Wednesday by professional services firm PwC.
While the 2009-2011 period was characterised by a recovery in overall commodity prices from the lows of the 2008 financial crisis‚ 2012 saw a slowdown in this recovery with gold the only commodity gaining value.
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Source: FIN24
JSE ends up, unlike global markets
November 20, 2012--The JSE bucked the market trend to close higher on Tuesday, unlike major world markets, which were in the red after global credit rating agency Moody's downgraded France's long-term government debt from AAA to Aa1 late on Monday,
which‚ together with a decision on Greece's next aid tranche in the balance‚ weighed on overseas markets.
At 17:00‚ the All Share [JSE:J203] index was up 0.21% at 37 306.60 points‚ with the Top 40 - (Tradeable) [JSE:J200] index up 0.24% to 33 098.28. Platinum added 0.97%‚ while banks shed 1.46%.
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Source: FIN24
Bonds firm after auction
November 20, 2012--The South African bond market was firm in midday trade on Tuesday after a good weekly bond auction at 11:00.
The South African Treasury on Tuesday allotted R700m worth of R209 bonds at a clearing yield of 8.370%‚ R700m worth of R213 bonds at a clearing yield of 8.150% and R700m worth of R214 bonds at a clearing yield of 8.450%.
The bids amounted to R2.795bn‚ R3.565bn and R2.32bn respectively.
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Index Closes Lower Despite More Market-making Stocks Trading last Monday resumed on a poor note and fell on Tuesday as trading activities witnessed intense sell pressure across all sectors as reflected by the NSE sector indices. view more
Source: FIN24
November 19, 2012--After reversing its two-week losing streak the previous week, the Nigerian equities market again relapsed last week despite the addition of three more securities to the basket pool of stocks in the market-making basket.
The equities market had returned to positive territory the previous week helped by the activities of bargain hunters to take position for possible future gains after two weeks of profits taking.
Source: This Day Live
