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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.
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Rand starts 2012 on firmer footing By 06:39 GMT the local currency was up 0.28% on the day at R8.0520 to the dollar, compared with Monday’s close at R8.0750. read more
JSE slips into red for 2011 read more
Rand and bonds firmer on last trading day In their last session for 2011, South African bonds were firmer as they tracked the stronger rand read more
Commodity prices drive JSE lower Local markets are set to close at midday on Friday ahead of the New Year holiday weekend. They will reopen on Tuesday January 3, as January 2 is a public holiday in SA.
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Source:FIN24
January 3, 2011--The rand was slightly firmer against the dollar on the second trading day of the year on Tuesday and should stay largely range-bound as market players drift slowly back after the Christmas and New Year breaks.
Local traders returned to the market on Tuesday after local exchanges were closed for a post-New Year public holiday in South Africa on Monday.
Source: FIN24
December 30, 2011--South African stocks posted their first annual loss in three years on Friday, declining 0.6% for 2011 as concern about the eurozone crisis helped spark selling in miners and other companies sensitive to global growth.
Johannesburg's benchmark Top 40 - (Tradeable) [JSE:J200] index finished the day down 0.06% at 28 469.81. The annual decline is its first negative yearly performance since 2008.
Source: FIN24
December 30, 2011--The rand was firmer against the dollar in very thin trade at noon on Friday, even as the euro came under slight pressure.
Markets closed at noon today in SA - the last trading day of the year - ahead of the New Year holiday long weekend.
Source: FIN24
December 29, 2011--The JSE ended the day in the red after commodities continued to dictate the local market direction.
A local trader said that trade was in the red solely as a result of commodities pressure, as global markets were up at the time.
Source: FIN24
