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Rand stronger on euro
September 7, 2012--The rand prolonged its rally on Friday afternoon, which had been sparked on Thursday by the European Central Bank's (ECB) government bond-buying plan announcement, and on Friday afternoon on the back of heightened expectations that the Fed would announce monetary easing in one form or another, at its Federal Open Market Committee (FOMC) meeting next week, which would buoy the rand.
The rand was also stronger on the back of a stronger euro‚ which had made good gains after ECB president Mario Draghi’s speech.
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Source: FIN24
JSE rallies on ECB statement
September 6, 2012--A broad-based rally in SA equities sent the All-share index to a seven-day closing high on Thursday after the eurozone central bank confirmed a bond buying plan aimed at tackling the economic problems in a single-currency region.
At 17:00‚ the JSE all-share index was up 1.80% to 35 674.73 points‚ with platinum miners jumping 3.97%‚ resources rallying 3.23% and the gold index gaining 2.44%.
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Source: FIN24
Rand stronger following Draghi speech
September 6, 2012--The rand was stronger on Thursday afternoon on the back of a stronger euro and after the Draghi speech, which gave details of new economic stimulus measures in the eurozone.
European Central Bank (ECB) President Mario Draghi announced a new sovereign bond-buying programme and said it would provide “a fully effective backstop” against market volatility.
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Source: FIN24
JSE ends lower after choppy session
September 5, 2012-- The JSE share market ended weaker on Wednesday after a fairly choppy session as global equities geared themselves for the European Central Bank (ECB) policy meeting on Thursday.
Markets are betting that the euro region central bank will unveil a bond-buying plan to lower sovereign bond yields of the troubled eurozone countries.
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Source: FIN24
Rand a little stronger-awaits ECB
September 5, 2012--The rand was trading stronger in late trade on Wednesday, supported by hopes of action from the European Central Bank's (ECB) President Mario Draghi on Thursday.
Headlines out of Europe on Wednesday suggested that the ECB could announce unlimited‚ sterilised bond buys in debt ridden eurozone countries‚ Dow Jones Newswires reported.
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Source: FIN24
JSE drops to five-week lows
September 4, 2012--The JSE stock market fell to a five-week closing low on Tuesday, tracking negative global sentiment, after the disappointing US manufacturing data for August.
The manufacturing index from the Institute for Supply Management dropped to 49.6 last month‚ from 49.8 in July.
A reading above 50 indicates expansion‚ while a reading below 50 suggests contraction.
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Source: FIN24
Rand slightly stronger but flows limited
September 4, 2012--The rand was slightly stronger in late trade on Tuesday, with market participants awaiting the European Central Bank (ECB) policy meeting on Thursday and a two-day gathering of US Federal Reserve policymakers next week.
Expectations are that ECB President Mario Draghi might announce the buying of bonds with maturities of up to three years and also an interest rate cut; many market participants are also hoping for further monetary stimulus from the Fed.
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Source: FIN24
Botswana Stock Exchange launches automated trading
September 4, 2012--Months of hard work came to a climax when the Botswana Stock Exchange successfully launched its automated trading system (ATS) and now has live trading.
This replaces the open outcry trading system and the aim is to make the BSE more visible and trading more efficient. The exchange has been using a central securities depository (CSD) since 2008 and this was upgraded alongside the implementation of the ATS.
The ATS was installed by MillenniumIT, part of the London Stock Exchange Group, after a BWP8.8 million ($1.1m) contract. MillenniumIT also installed the CSD.
The new system was implemented on Friday 24 August. The day before, Thursday 23 August, was a trading holiday, while Friday was a settlement holiday with trades settling instead on 27 August. These holidays were meant to enable the BSE to transition from the old CSD system to the upgraded version.
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Source: African Capital News
JSE maintains a firmer tone
September 3, 2012--The JSE share market remained in positive territory at noon, supported mainly by the recovery of gold counters from last week's oversold levels.
The value and volumes traded on the local bourse were fairly light due to a public holiday in the US.
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Source: FIN24
Bonds firm on weaker PMI data
September 3, 2012--South African bonds were firm in midday trade on Monday after several countries' purchasing managers index (PMI) data indicated global growth was muted.
“We have seen several countries in Asia and Europe reporting poor August PMIs‚ so that has helped our market despite the softer rand‚” a local bond trader said.
At 11:47‚ the benchmark R157 bond was trading at 5.425% from 5.480% at Friday’s close.
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Source: FIN24
