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Strong rand boosts bonds
February 29, 2012--South African bonds were firm in midday play on Wednesday, largely on the back of the rand, a trader said.
The National Treasury said it would auction R700m worth of R204 bonds, R700m worth of R208 bonds and R700m worth of R214 bonds on March 6.
At 11:50, the benchmark R157 bond was bid at 6.605% and offered at 6.600% from its previous close of 6.625%. The R207 was bid at 7.730% and offered at 7.715% from a previous close of 7.745%, and the R186 was bid at 8.240% and offered at 8.220% from its close of 8.250%.
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Source: FIN24
JSE picks up, miners lead gains
January 29, 2012--After a tentative start the JSE picked up pace at noon on Wednesday, with platinum miners leading the charge.
At 12:05 local time, the JSE All Share [JSE:J203] index was up 0.36% to 34 337.69 points, led by platinums which rallied 1.13%; bank shares lifted 0.70%, while resources added 0.66%.
Financials gained 0.16%, industrials were up 0.22% and gold miners edged up 0.20%.
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Source: FIN24
Positive US data boost markets, JSE
Februay 28, 2012--The JSE ended Tuesday's session firmly in positive territory as better than expected data was released in the US.
At 17:00, the JSE All Share [JSE:J203] index had risen 1.01% to 34 214.53 points, with resources adding 1.22%, financials lifting 1.13%, and banking stocks rising 1.06%.
Platinums were 0.99% higher, while industrials rose 0.83%, and gold shares added 0.27%.
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Source: FIN24
Rand firmer, tracking steady euro
February 28, 2012-The rand remained firmer against the dollar in late afternoon trade on Tuesday as it tracked a euro that stayed steady on the eve of Europe's next cheap long-term bank funding exercise.
"Not much has changed as far as the rand goes as its trend is in line with prior sessions," a local analyst said.
"We weren't expecting too much change in the trend prior to the long-term refinancing operation auction tomorrow given the fact that it's just another event in which global quantitative easing will be expanded."
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Source: FIN24
Bonds mostly firmer in thin trade
February 28, 2012--South African bonds were slightly firmer in quiet midday trade on Tuesday in line with the strong rand, after the release of key gross domestic product (GDP) figures.
The seasonally adjusted real GDP at market prices for the fourth quarter of 2011 increased by an annualised rate of 3.2% compared with an increase of 1.7% (1.4%) in the third quarter.
The unadjusted real GDP at market prices for the fourth quarter of 2011 increased by 2.9% compared with the fourth quarter of 2010.
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Source: FIN24
Bonds mostly firmer in thin trade
February 28, 2012--South African bonds were slightly firmer in quiet midday trade on Tuesday in line with the strong rand, after the release of key gross domestic product (GDP) figures.
The seasonally adjusted real GDP at market prices for the fourth quarter of 2011 increased by an annualised rate of 3.2% compared with an increase of 1.7% (1.4%) in the third quarter.
The unadjusted real GDP at market prices for the fourth quarter of 2011 increased by 2.9% compared with the fourth quarter of 2010.
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Source: AME Info
South Africa-Economy grows 3.2%
February 28, 2012--South Africa's economy expanded to a growth rate of 3.2% in the fourth quarter of 2011, Statistics SA said on Tuesday.
This was up from a revised 1.7% in the previous quarter, said Gerhardt Bouwer, executive manager national accounts at Statistics SA in Pretoria.
The largest contributors to growth were the trade industries: wholesale, retail and motor, catering and accommodation.
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Source: FIN24
JSE ends weaker, led by banks
February 27, 2012--The JSE finished the session weaker on Monday, pulled down by profit taking among banking shares following their strong run last week.
On the macroeconomic level, inflationary effects of elevated oil prices sent global stock markets, including the local bourse, into negative territory, said Nick Kunze, head of dealing at BJM Private Clients Services.
At 17:00, the JSE All Share [JSE:J203] index was down 1.14% to 33 871.32 points, with banking stocks coming off 2.12%, platinums shedding 1.92% and resources losing 1.76%.
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Source: FIN24
Rand ends softer as risk appetite fades
February 27, 2012--The rand remained softer against the dollar in late afternoon trade on Monday as it tracked a euro that had been hit by concern over obstacles to Greece's bailout programme.
"Considering all of this, the rand hasn't done too badly today in a relatively lacklustre session," a local currency trader said.
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Source: FIN24
SA growth seen quickening
February 27, 2012--South Africa's economic growth is likely to have accelerated in the fourth quarter of last year, driven mainly by higher consumer demand boosted by lower interest rates, a Reuters poll showed on Monday.
Higher wages, the addition of new jobs and a slashing of interest rates by a cumulative 650 basis points have boosted demand in Africa's largest economy, although economic recovery remains hesitant after a recession in 2009.
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Source: Reuters