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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
Rand off best levels as euro falls
May 17, 2012--The rand was steady around previous closing levels in midday trade on Thursday, but off its morning best level as it tracked the euro, which fell below $1.2700 to its lowest for the day.
The euro continued to be weighed by the Greek crisis.
At 12:15 local time the rand was bid at R8.3278 to the dollar, after it touched an intraday best level of around 8.25 and compared with Wednesday's close of R8.3155, Tuesday's close of 8.3275 and Monday's close of R8.1983. Just a week ago the rand was below R8 per dollar.
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Source: FIN24
JSE falls as commodity prices dip
May 16, 2012--The JSE continued to fall in midday trade on Wednesday as commodity prices dipped, pulling resource shares lower.
At noon local time, the JSE All Share [JSE:J203] index was down 0.35% to 33 368.20 points, with resources falling 1.36%, platinum miners losing 1.37% and gold mining counters shedding 2.41%.
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Source: FIN24
Rand firmer as Greek fears ease
May 16, 2012--The volatile rand was marginally firmer in afternoon trade after Greek fears were allayed as a result of a pledge made by the European Central Bank to support the country ahead of the new June poll.
The discussions over the formation of a Greek government broke down after only nine days and the consequent risk-off sentiment weighed heavily on the rand and emerging market currencies, until the ECB rescue announcement.
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Source: FIN24
Choppy JSE cuts gains, ends weaker
May 15, 2012--The JSE reversed earlier gains to finish the session lower on Tuesday, as the last-ditch attempt to form a coalition government in Greece ended in failure, hitting global market sentiment.
At 17:00 local time, the JSE All Share [JSE:J203] index was down 0.14% to 33 486.08 points, with gold miners tumbling 2.54%, platinum miners dropping 1.10% and resources shedding 0.72%.
The rand slid to 8.27 to the US dollar, from 8.17 at JSE's close on Monday.
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Source: FIN24
JSE extends losses on risk aversion
May 14, 2012--The JSE extended losses at noon on Monday, tracking a weaker trend on global stock markets.
At 12:00 local time, the JSE All Share [JSE:J203] index was down 0.94% to 33 718.52 points, with gold miners losing 2.70%, platinum miners dropping 1.42% and resources shedding 1.73%.
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Source: FIN24
Bonds weaker on China, eurozone woes
May 14, 2012-- South African bonds were on the back foot in midday play on Monday, as anxiety over the eurozone debt crisis and fresh concerns over China heightened risk aversion.
China's central bank on Saturday lowered the reserve requirement ratio for banks by 0.5% in order to boost liquidity and aid the slowing economy.
At 11:50, the benchmark R157 bond was trading at 6.490% from Friday's close of 6.440%. The R207 was bid at 7.680% and offered at 7.660% from a previous close of 7.605% and the R186 was trading at 8.400% from its close of 8.305%.
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Source: FIN24
Rand weak on euro breakup jitters
May 14, 2012--The rand was weaker in afternoon trade on Monday as tension between Germany and Greece raised the possibility of a breakup of the eurozone.
"The market is very jittery right now, so the flight is into safe havens such as the US dollar," a local trader said.
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Source: FIN24
SA economy recovering slowly -index
May 14, 2012--The South African economy is recovering, although at a very slow pace, according to the BankservAfrica Economic Transaction Index (Beti) released on Monday.
"Whilst the economy is not treading water, but actually moving ahead, the pace does seem pedestrian," said Brad Gillis, CEO regulated products at BankservAfrica, in a statement.
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Source: AME Info
