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JSE softer in noon trade‚ miners weigh
July 23, 2012--The JSE was trading softer in noon trade on Monday after reaching its lowest level in four days at the start of the day‚ with the eurozone crises again weighing on markets.
“The dollar is ironically seen as a safe haven and therefore our rand is trading lower and a stronger dollar pushed commodity prices lower‚ which affects local commodity companies negatively‚” said Hennie Fourie‚ stockbroker at PSG Konsult.
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Source: FIN24
Rand slides further in afternoon trade
July 23, 2012--The rand slipped further in afternoon trade amidst growing concerns over the eurozone debt-crisis.
The local currency has been under-pressure since last Friday‚ on risk aversion.
Concerns over the 17-member bloc’s growth resurfaced as EU Finance Ministers approved EUR100bn financial aid for Spanish banks. However‚ the mood quickly soured when Spanish authorities announced that the country was likely to remain in recession until 2014.
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Source: FIN24
JSE ends softer on profit taking
July 20, 2012--SA's benchmark stock index, the JSE All Share [JSE:J203] Index, shed 0.19% on Friday to close at 34 225.42 points on the back of profit taking after a couple of good trading days, and also due to the eurozone crisis weighing on the market at the end of the day.
The market was buoyed by gold mining counters‚ which gained 2.25%‚ while resources shed 0.19%‚ platinums lost 1.89% and banks weakened 0.94%.
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Source: FIN24
JSE a tad higher, platinums weigh
July 19, 2012--The JSE was a touch higher at the open on Thursday, as the platinum sector weighed on the all-share index following Anglo Platinum's (AMS) downbeat trading update.
At 09:25 local time‚ the JSE All Share [JSE:J203] index inched up 0.09% to 34‚064.29 points‚ with resources slipping 0.10%‚ platinum shares shedding 0.54% and gold counters dipping 0.11%.
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Source: FIN24
Bonds off best level after CPI
July 19, 2012--South African bonds were off their best level in midday trade on Wednesday, after the release of consumer price index (CPI) data at 10:00.
CPI was expected to have eased further‚ to 5.4% year on year (y/y) in June from 5.7% y/y in May‚ according to a survey of leading economists by I-Net Bridge. Forecasts for CPI among the 10 economists ranged from 5.3% to 5.6%. The actual outcome was a 5.5% y/y rise.
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Source: FIN24
NSE Index Hits 23,039.27 as Rally Continues
July 18, 2012--The bullish trading at the stock market continued Tuesday with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) crossing the 23,000 threshold to close at 23,039.27.
Activities of bargain hunters encouraged by the impressive half year results by companies have sustained the positive run in the market in the past two weeks.
The upward trend pushed the index to an 11-month high last week and when the market opened on Monday, the momentum was increased, with the index rising by 1.04 per cent.
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Source: This Day Live
Nigeria's Foreign Direct Investment Hits $9bn
July 18, 2012--The total value of Foreign Direct Investment (FDI) that came into Nigeria in 2011 was $8.9 billion with the country recording over 20 per cent of the total FDI to Africa.
Analysts at Renaissance Capital (RenCap) which disclosed this, also revealed that FDI inflow into Africa in 2011 increased by 28 per cent to $35 billion in 2011, as against the $27.4 billion it was in 2010.
The investment and financial advisory firm disclosed these in a report titled ‘Sub-Saharan Africa: 2011 FDI Reaches Record High’, made available to THISDAY Tuesday.
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Source: This Day Live
JSE firmer amid quiet trade
July 18, 2012--The JSE was steady at midday, amid a slow trading day so far, with lacklustre volumes due to investor fatigue and a lack of clear direction in the market.
“US Fed Chairperson Ben Bernanke yesterday did elude to further quantitative easing if necessary‚ which helped the local market higher‚ albeit in a very cautious tone‚” said Devin Shutte‚ market analyst at stockbrokerage Newstrading.
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Source: FIN24
Bond yields ease before inflation data
July 18, 2012--Government bond yields tracked lower on Wednesday, pushed down by more offshore buying and domestic market expectations of a moderation in inflation that may allow the central bank room to cut interest rates this year.
The rand was slightly weaker at R8.1872/dollar at 06:30 GMT compared to a R8.1685 close in New York, and dealers said it would trade in a R8.16-R8.24 range ahead of a central bank interest rate decision on Thursday.
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Source: FIN24
JSE edges up in cautious trade
July 17, 2012--The JSE edged up in the opening session on Tuesday, in cautious trade ahead of the US Federal Reserve chairperson Ben Bernanke's congressional hearing.
Equity markets will be looking for any hints on possible additional monetary easing.
At 09:21 local time‚ the JSE All Share [JSE:J203] index was up 0.16% at 33‚781.02 points‚ with gold miners gaining 0.40%‚ platinum shares nudging up 0.23% while resources counters were flat (0.01%.)
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Source: FIN24
