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Platinum options traded on JSE for first time
January 9, 2011--The Johannesburg Stock Exchange (JSE) has seen 800 platinum option contracts traded on the Safex commodity derivative's global market late last week, the first time that the JSE has seen this trading strategy used by market participants.
Chris Sturgess, general manager of the commodities division at the JSE, says: “To date the trade has been solely in futures, but I'm pleased to see the first interest in using options by a hedge fund. Options are versatile instruments that in their simplest form enable traders to acquire a type of insurance. Buyers pay a premium to reduce their risk and have access to upside potential. This is a trend we are optimistic will increase.”
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Source: Business Report
JSE ticks up as gold miners recover
January 6, 2012--South African shares ticked higher on Friday as battered down stocks such as telecom MTN Group [JSE:MTN] and safe-haven gold miners recovered ground.
Johannesburg’s bourse also received a boost from the positive sentiment generated by better-than-expected US job data that underpinned hopes that the world’s biggest economy is firmly on the recovery path.
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Source: FIN24
Rand ends first week of 2012 steady
January 6, 2012--The rand held steady against the dollar on Friday and was largely range-bound at the end of a week characterized by low liquidity as South African traders slowly returned to work.
Reassurances about the euro’s future from International Monetary Fund chief Christine Lagarde during a visit to South Africa did little to the rand, which was at 8.1395 at 1605 GMT, a shade firmer than Thursday’s close at 8.19.
JSE suffers first down day of 2012
January 5, 2012--South African stocks closed lower on Thursday for the first time in four days, with the Top 40 - (Tradeable) [JSE:J200] index falling more than 1%, dragged down by blue-chip telecoms firm MTN and gold miners.
MTN Group [JSE:MTN] Africa’s biggest mobile operator, plunged 5.4% to R132.06 rand, extending losses to 8% this year, amid fears that US and European sanctions will hit the economy of Iran, one of its key non-African markets.
An announcement that it would spend $1bn in 2012 in Nigeria, its biggest market, and the licensing of a rival operator in Cameroon also dampened sentiment towards the stock, said Bruno van Eck, a trader at Thebe Stockbroking.
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Source: FIN24
Risk aversion drags down rand
January 5, 2012--The rand hit a two-week low against the dollar on Thursday, dropping through key levels and weakening along with other emerging market currencies as investors cut back on risky assets.
The rand fell 1.5% to R8.2490/$ in the local session, its weakest since December 22. Dealers said the currency’s weakness was somewhat exaggerated by the lack of players in the market.
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Source: FIN24
JSE closes up, just short of key level
January 4, 2012--South Africa’s Top 40 - (Tradeable) [JSE:J200] index of blue chips failed to break a key technical resistance level on Wednesday despite investor interest in gold producers such as Harmony Gold and AngloGold Ashanti.
The spot gold was last up 0.6%t on the day at $1,611.24 an ounce, lifting world no. 3 gold miner AngloGold 2.8 percent to 360.22 rand and smaller rival Harmony 3% to R99.52.
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Source: FIN24
Eurozone woes knock rand - again
January 4, 2012--The rand snapped a four-day winning streak on Wednesday to fall 1.6% against the dollar, tracking a weaker euro as concerns about the eurozone debt crisis persist.
The rand fell to R8.1870/$ on the day against the greenback, its weakest level since December 29.
Government bonds followed the weaker currency in an illiquid market. Yields on the benchmark 2015 bonds were up 11 basis points to 6.85% and on the 2026 issues yields climbed 13.5 basis points to 8.635%.
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Source: FIN24
Just Like Nigeria, Ghana Exchange Embraces ETFs
January 4, 2012--The Ghana Stock Exchange (GSE) is getting set to embrace Exchange Traded Fund (ETF)just as like the Nigerian Stock Exchange (NSE), THISDAY checks have revealed.
An ETF is a fund that tracks an index with the aim of participating in the economic growth of sector or commodity. ETFs are traded like a ordinary stocks.
While the NSE listed its first ETF last December, GSE was said to have introduced rules for the listing of ETF in the Ghana capital market. Although details of the rules could not be obtained by THISDAY, it was gathered that they had already been approved by the Ghana Securities and Exchange Commission.
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Source: This Day live
NewGold ETF Loses Value on Poor Awareness
January 4, 2012--The newly-listed NewGold Exchange Traded Fund has shed 2.2 per cent at the stock market as demand for the instrument remained low apparently due to lack of awareness and understanding among investors.
The NewGold ETF, put together by ABSA Capital Limited and Vetiva Capital Limited had its 400, 000 units listed on the Nigerian Stock Exchange (NSE) at N2,526 per unit on December 19, 2011. Its price rose to N2, 584 in the first five days of trading after its listing. However, it later declined to close the year at N2, 470 last week, indicating a 2.2 per cent below its listing value.
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Source: The Day Live
Upbeat data ignite JSE, global stocks
January 3, 2011-- South African stocks jumped nearly 3% in the first trading day of 2012, booking their highest close since early December, as better-than-expected Chinese manufacturing data helped drive mining companies higher.
The Top 40 (Tradeable) [JSE:200] index of blue chips closed up 2.79% at 29 263.24. The broader All Share [JSE:J203] index was up 2.45% 32 768.35.
“There was some good manufacturing data that came out of China. That has helped move the market higher today. The expectation is that the trouble in Europe is not affecting China,” said Jonathan Feigin, a trader at Consilium Capital.
