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Rand hits fresh low against dollar
May 23, 2012--The rand fell 1.5% to hit a fresh 2012 low against the dollar in the afternoon session on Wednesday as the euro currency plunged below $1.26.
The local unit often tracks moves on the euro as the region is a major trading partner for South Africa.
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Source: FIN 24
JSE firmer as euro sentiment improves
May 22, 2012--The JSE rose in midday trade on Tuesday following a strong performance by European and Asian markets and on hopes that an amicable agreement will be reached when EU leaders meet on Wednesday to discuss the crippling eurozone debt crisis.
Adding to the consolidation of the JSE was the increased infrastructure spend announced in China, which boosted the local bourse as the Asian giant said it would accelerate infrastructure investments to combat slowing growth.
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Source: FIN 24
Rand softens on lower than expected UK CPI
May 22, 2012--The rand softened in midday trade on Tuesday as lower than expected April UK consumer price inflation (CPI) resulted in sterling being sold off, which pulled the euro down as well.
"We moved on the UK CPI data as the lower inflation will probably mean more monetary stimulus, which will weaken sterling," a local trader said.
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Source: FIN 24
Bonds firmer after 'strong' auction
May 22, 2012--South African bonds were firmer in midday trade on Tuesday, on the back of what a trader described as a "strong" government bond auction.
At its weekly auction, the National Treasury received bids totalling R2.48 billion for R500 million worth of R203 bonds at a clearing yield of 6.880%, bids totalling R1.09 billion for R500 million worth of R208 bonds at a clearing yield of 7.595% and bids totalling R2.94 billion for R1.1 billion worth of R214 bonds at a clearing yield of 8.920%.
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Source: FIN 24
JSE ends weaker, lags world stocks
May 21, 2012--The JSE ended marginally weaker on Monday, underperforming the main world stocks, as rand recovery from the worst level of the session kept general mining shares on the back foot.
At 17:00 local time, the JSE All Share [JSE:J203] index was down 0.19% to 33 086 points, with the platinum sector losing 0.53%, resources easing off 0.44%, while gold counters were flat (0.01).
Financials were down 0.21%, banking stocks were off 0.19%, while industrials were flat at -0.01.
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Source: FIN24
Rand off best, waiting for G8 plan
May 21, 2012--The volatile rand was off its best levels in late trade on Monday as more clarity on new global plans are awaited. Concrete measures to handle the Greek crisis ahead of a June 17 poll are expected.
The financial crisis engulfing Greece remains of great concern to emerging markets, with analysts saying guarantees from the G8 on what happens until the elections will impact currencies like the rand.
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Source: FIN24
JSE stays weaker, gold stocks rally
May 18, 2012-- The JSE remained on the back foot during midday trading on Friday, tracking negative global investor sentiment.
But gold shares bucked the trend, rallying on the back of the firmer spot price of the yellow metal, and rand weakness.
At 12:02 local time, the JSE All Share [JSE:J203] index was down 1.13% to 33 158.53 points, with platinum sector losing 1.68%, resources shedding 0.71%, while gold counters jumped 3.60%.
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Source: FIN24
Rand off worst level on exporter demand
May 18, 2012--The rand recovered from its early morning worst level in midday trade on Friday on the back of exporter demand.
"We have seen a plethora of orders from exporters and foreigners, which is why we are about eight cents better than our worst level," a local trader
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Source: FIN24
Bonds perk up, eye rand
May 18, 2012--South African bonds were a few basis points firmer in midday trade on Friday, as the rand - which was off the day's worst levels - provided a boost to the market.
"This seems to be to do with the rand looking a bit better but I don't understand why that is the case - this market shouldn't be here considering all the risk that is in the system.
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Source: FIN24
Commodity stocks weigh on JSE
May 17, 2012-- The JSE extended its losses at noon on Thursday, dragged down by a selloff in general mining shares, against the negative global investor sentiment backdrop.
The JSE had a 30 minute interruption this morning due to international connectivity issues, which have since been resolved.
At 12:06 local time, the JSE All Share [JSE:J203] index was down 1.08% to 33 431.24 points, with resources dropping 1.88%, which extends the sector's losses to 6.97% since the beginning of May.
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Source: FIN24
