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Rand softer on China PMI data
August 23, 2012--The rand remained relatively weaker in late trade, in line with commodity-linked currencies after weak preliminary Chinese PMI data.
At 16:06 local time the rand was trading at R8.2928 to the dollar from its previous close of R8.2261. It was trading at R10.3958 to the euro from its previous close of R10.3048 and at R13.1506 against sterling from R13.0524 before.
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NewGold Exchange Traded Fund makes debut on Ghana Bourse South African group Absa Capital took the decision to list its gold-backed ETFs on the Ghana Exchange after the primary listing in South Africa and other listings on bourses in Nigeria and Botswana. read more
Platinum Prices Climb Amid Unrest read more
JSE closes lower, resources drag view more
Bonds firmer despite weak rand view more
Industrials, miners push JSE to record close read more
Marikana impact on bonds minimal
At 15:53‚ the benchmark R157 bond was trading at 5.560% from 5.610% at Monday’s close and 5.690% at Friday’s close. The R207 was bid at 6.650% and offered at 6.625% from its previous close of 6.695%‚ and the R186 was trading at 7.530% from its previous close of 7.590%. read more
Firmer rand targets R8.20/$
The euro was bid at US$1.2470 from $1.2350. read more
JSE closes weaker
Lonmin has delayed suspending workers who had not returned to work on Monday‚ deferring the deadline to Tuesday morning. Last week 44 people were killed in clashes between police and rival unions at the company’s platinum mine in Marikana. Harmony‚ SA’s third-largest gold producer‚ last week posted results that fell below analysts’ estimates.
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Rand slightly stronger in midday trade read more
Source: FIN24
August 22, 2012-- Ghanaian investors can now buy and sell the NewGold Exchange Traded Funds after it was officially listed on the Ghana Stock Exchange on Wednesday.
Dr Sam Mensah, Chairman of Council of the Exchange, made the official listing pronouncement and together with officials of the South African group Absa Capital rang the bell to signal the official admission of the security to the trading platform
Source: Ghana News Agency
August 22, 2012--Platinum prices rose to their highest level in four months Wednesday, as spreading labor unrest in South Africa raised the possibility that a further 40% of world production of the metal could be affected by a dispute that has already shut down significant output.
South Africa, which accounts for 75% of world platinum supply, has been roiled by violent clashes at three of its four leading platinum mines this year. Fears that a near two-week standoff between workers and bosses at Lonmin LMI.LN 0.00% PLC's Marikana mine could spread to the world's biggest platinum producer, Anglo-American Platinum Ltd., AMS.JO -0.13% or Amplats, likely underpinned the prices, traders and analysts said.
Source: Wall Street Journal
August 22, 2012--The JSE closed lower on Wednesday with the heavy--weighted resources and gold counters placing most of the drag on the bourse, with profit taking seen after the JSE reached highs on Tuesday.
Markets are now awaiting the release of the minutes to the Federal Reserve’s latest policy-setting committee meeting‚ which are due at 20:00 local time on Wednesday. Clues will be sought therefrom on how close the Fed might be to providing additional monetary stimulus.
Source: FIN24
August 22, 2012--South African bonds were firmer in afternoon trade on Wednesday, despite a weaker rand as better than expected July consumer price index (CPI) data boosted demand.
"The CPI data was better than expected so that helped in the morning and in the afternoon we have seen continued foreign buying despite the weak rand‚” a local bond trader said.
Source: FIN24
August 21, 2012--Stocks booked a fresh record close on Tuesday as industrials and miners pushed higher on hopes that meetings on Greece's future this week and new plans drawn by the European Central Bank will help Europe manage its debt woes.
The benchmark Top-40 index closed up 1.06% at 31 630.26, after earlier touching a lifetime high of 31 690.59.
Source: FIN24
August 21, 2012--South African bonds firmed in afternoon trade on Tuesday on the back of a stronger rand.
"Bonds have strengthened on the combination of a stronger rand and lower European bond yields‚” a local bond trader said.
Source: FIN24
August 21, 2012--The rand was on a firmer footing against major currencies in late trade, tracking global risk themes, as the negative effects of the Lonmin mine shootings on the local currency receded in the background.
At 16:00 time the rand was trading at R8.2207/$ from Monday’s close of R8.3197. It was trading at R10.2513/€ from its previous close of R10.2714 and at R12.9629/£ from R13.0688 before.
Source: FIN24
August 20, 2012--The JSE closed weaker, with gold miners leading the downside. Lonmin [JSE:LON] and Harmony Gold Mining Company Limited [JSE:HAR] are still under pressure, which pulled their respective indices down.
Lonmin shed R3.32‚ or 3.99%‚ to R79.98 and Harmony lost R4.94‚ or 6.15%‚ to R75.42.
Source: FIN24
August 20, 2012--The rand was slightly firmer in midday trade on Monday with the local currency was still feeling the impact of the Lonmin violence from last week.
"The current bout of weakness in the rand is most readily ascribed to the Lonmin [JSE:LON] violence. As soon as this abates‚ I’m sure the rand will strengthen again‚ based on other current market indicators‚” said Mark Kalkwarf‚ a portfolio manager from Iquad.
Source: FIN24