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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
Num to mull nationalisation report
February 27, 2012--The National Union of Mineworkers (Num) will examine the consequences of the proposals in the ANC's nationalisation report, general secretary Frans Baleni said on Monday.
The National Union of Mineworkers (Num) will examine the consequence..
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Souce: FIN24
Bonds receive boost from strong rand
February 24, 2012--Having enjoyed a brief respite during the morning session after what has been a particularly busy week, South African bonds gathered some momentum in midday trade on Friday on the back of a strong rand.
At 11.45, the benchmark R157 bond was trading at 6.630%, from its previous close of 6.665%. The R207 was bid at 7.770% and offered at 7.740% from a previous close of 7.780% and the R186 was bid at 8.250% and offered at 8.245% from its close of 8.290%.
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Source: FIN24
JSE ends in black
February 24, 2012--Banks posted an over 2% gain on Friday afternoon, helping the JSE to close in positive territory on Friday.
At 17:00, the JSE All Share [JSE:J203] index had added 0.45% to 34 260.76 points, with banks garnering 2.38%, financials lifted 1.39%, and platinum miners jumped 0.91%. Industrials edged up 0.36%.
Gold miners shed 0.49%, while resources were flat (-0.01).
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Source: FIN24
