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Bonds firm after SARB comments
October 2, 2012--The South African bond market firmed in afternoon trade on Tuesday after South African Reserve Bank (Sarb) governor Gill Marcus said policy makers should "adjust the policy stance".
“The speculation that the Sarb will follow the lead of the Reserve Bank of Australia in cutting rates has gained momentum after the governor’s comments‚” a local bond trader said.
At 15:52‚ the benchmark R157 bond was trading at 5.340% from 5.440% at Monday’s close and 5.370% at Friday’s close. The R207 was bid at 6.415% and offered at 6.385% from its previous close of 6.505%‚ and the R186 was trading at 7.490% from 7.555% at its previous close.
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Source: FIN24
Resources lead JSE higher
October 1, 2012-- The JSE all share index made good gains on Monday, with resources and industrial counters helping the index advance, kicking off the fourth quarter on a good note.
The JSE all-share index [JSE:203] closed up 1.43% at 36 269.27 points‚ with the resources index [JSE:210] souring 2.77% and industrials [JSE:211] 1.06% firmer.
The gold price reached its highest level since November last year on Monday‚ after the president of the Federal Reserve Bank of Chicago said the central bank's bond-buying programme would likely continue through next year.
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Rand stronger on SA's global bond debut read more
JSE up slightly on mining counters
At 17:00 local time‚ the JSE all-share index closed 0.40% up at 35 757.98 points‚ with the platinum index gaining 2.41% and gold counters lifting 2.14%.
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Rand weakens on trade deficit view more
Rand weakens on trade deficit view more
Bonds a tad softer in nervous trade view more
JSE remains positive at close
At 17:00 local time‚ the JSE all-share index was up 0.57% at 35 616.60 points‚ with resources recovering 1.53% and the gold mining index regaining 1.19%.
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Rand strengthens in late trade view more
Moody's downgrades SA
The main driver of the downgrade “is Moody’s lowered assessment of institutional strength to 'moderate' from 'high', an important factor in the rating agency’s judgment of a sovereign’s economic resiliency,” the rating agency said in a statement.
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Source: FIN24
October 1, 2012--The rand firmed against the dollar on Monday after local South African bonds were formally included in Citi's prestigious World Government Bond Index(WGBI), exposing them to a much wider pool of international investors.
The rand was 0.36% firmer at R8.2775 against the greenback at 06:10 GMT from Friday’s New York close of R8.315.
Source: FIN24
September 28, 2012--The JSE stock market closed higher on Friday, buoyed by mining stocks, which experienced a big selloff earlier this week.
There was no positive news to drive markets and sentiment is still negative due to local mining woes.
Source: FIN24
September 28, 2012--The rand weakened in late afternoon on Friday after SA's trade deficit widened more than expected in August to R12.2bn.
At 15:23 local time‚ the rand was bid at R8.2827 to the dollar from R8.2192 at Thursday’s close. It was bid at R10.7044 to the euro from its previous close of R10.6139 and at R13.4101 against sterling from R13.3425 before.
Source: FIN24
September 28, 2012--The rand weakened in late afternoon on Friday after SA's trade deficit widened more than expected in August to R12.2bn.
At 15:23 local time‚ the rand was bid at R8.2827 to the dollar from R8.2192 at Thursday’s close. It was bid at R10.7044 to the euro from its previous close of R10.6139 and at R13.4101 against sterling from R13.3425 before.
Source: FIN24
September 28, 2012--The South African bond market was slightly softer in nervous midday trade on Friday after the inflation linked bond (ILB) auction at 11am and ahead of the inclusion of SA government bonds in the World Government Bond Index (WGBI) at 5pm.
“Traders are nervous so we are seeing good two-way volumes. The I2038 saw good demand at the auction‚ but the Moody’s downgrade has dampened sentiment‚” a local bond trader said.
Source: FIN24
September 27, 2012--The JSE share market closed higher on Thursday led by a rebound in mining counters after a bit of a bloodbath on Wednesday.
The recovery could be due to speculation of further monetary stimulus by Chinese authorities to bolster their economy‚ which would be good for world markets.
Source: FIN24
September 27, 2012--The rand strengthened in the late afternoon as traders eye the potential effect of SA's inclusion in the World Government Bond Index (WGBI).
“The rand is firmer due to some positive sentiment at the moment due to SA’s inclusion in the World Government Bond Index‚” said Tony van Dyk‚ a currency dealer from the Iquad Group.
Source: FIN24
September 27, 2012-- Moody's downgraded South Africa's credit rating by one notch on Thursday, citing concerns about the government's ability to tackle economic problems as well as political jostling with the ruling ANC.
The drop to a Baa1 rating will likely spell higher borrowing costs for Africa's largest economy, reports AFP.
Source: FIN24