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Rand softer as euro dips on growth worries
March 2, 2012--The rand was softer against the dollar in late afternoon trade on Friday, as the euro dipped on concerns regarding eurozone growth.
Earlier, Italy released data showing that its debt situation had deteriorated.
"There has been one-way traffic in euro land today, but if you consider the levels of the crosses, the rand has held up well," a local currency trader said.
"We encountered good dollar selling interest above the 7.50 level," he added.
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Source: FIN24
JSE ends flat as miners fall, banks gain
March 1, 2012--South African stocks closed flat on Thursday as commodity shares, particularly the gold producers, pulled the market lower after an overnight fall in the spot price and the strengthening of the rand currency.
The blue-chip Top 40 - (Tradeable) [JSE:J200] index edged down 0.07% to 30 526.43 while the broader All Share [JSE:J203] index closed 0.01% up at 34 298.48.
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Source: AME Info
Bonds drift weaker in quiet trade
March 1, 2012--South African bonds were up to four points weaker in quiet midday play on Thursday.
At 11:50, the benchmark R157 bond was trading at 6.645% from its previous close of 6.600%. The R207 was trading at 7.780% from a previous close of 7.735% and the R186 was trading at 8.265% from its close of 8.230%.
The rand was bid at 7.4554 against the dollar from its previous close of 7.4716.
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Source: FIN24
Rand firmer on risk appetite
March 1, 2012--The rand was firmer against the dollar in noon trade on Thursday as risk appetite came to the fore. The local currency also tracked what appeared to be a steady euro, following yesterday's key European Central Bank liquidity injection of €530bn.
"The rand is strong - just look at the crosses as rand strength is really evident there, especially against the euro," a local currency trader said.
"I suspect from now on though that we might tread water a bit," he added.
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Source: FIN24
JSE may lose defensive premium
February 29, 2012--Growing global bullishness may erode South African stocks' perceived safe haven status, which helped them outperform many emerging markets last year despite infrastructure bottlenecks, political risk and rand volatility.
The shift is already evident in returns with shares in South Africa's Bric peers all romping higher, faster than the 7% gained by the former this year.
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Source: FIN24
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
