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JSE lifts after US data
December 15, 2011--The JSE closed up on Thursday following US markets as key data came in better than expected.
A local trader said that the US had picked markets up with US jobless claims, indicating a firmer economy coming out, at their lowest levels in three-and-a-half years.
The futures close out during the day distorted the market a bit resulting in a couple of stocks doing "some strange things".
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Source: FIN24
Rand in a tight range in thin trade
December 15, 2011--The rand was trading in a narrow range in noon trade on Thursday, with trade thin ahead of a local public holiday on Friday.
At 12:03 local time, the rand was bid at R8.4253 to the dollar from its previous close of R8.4232. It was bid at R10.9250 to the euro from R10.9395 before, and at R13.0252 against sterling from R13.0236 previously.
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Source: FIN24
Bonds firmer in quiet trade
December 15, 2011--South African bonds were firmer in midday trade on Thursday, largely on the back of a steady rand.
By 11:50, the benchmark R157 bond was bid at 6.980% and offered at 6.965% from its previous close of 7.015%. The R207 was bid at 8.185% and offered at 8.160% from a previous close of 8.215% and the R186 was trading at 8.730% from its close of 8.760%.
The rand was bid at 8.4231 against the dollar from its previous close of 8.4232.
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Source: FIN24
Rand under pressure, bonds weak
December 14, 2011--South Africa’s government bonds fell on Wednesday after data showed inflation hit 20-month highs in November, diminishing lingering hopes of an interest rate cut next year.
The data added to negative sentiment that was already driving markets weaker and saw the rand hit two-week lows.
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Source: FIN24
JSE dips, still outperforms Brics
December 13, 2011--South African stocks dipped 0.2 percent on Tuesday, as investors sold telecom MTN Group and retailers on concerns a recent advance was overdone, shifting into media firm Naspers [JSE:NPN] and other battered shares.
Equities in Africa’s top economy are on track to end a volatile year flat, hampered by concerns about the euro zone debt crisis and a hard landing in China.
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Source: FIN24
Rand in a range awaits Fed
December 13, 2011-- The rand held steady in subdued trade on Tuesday afternoon ahead of the US Federal Reserve's announcement on monetary policy.
At 18:00 local time, the rand was bid at R8.2694 to the dollar from its previous close of R8.2779. It was bid at R10.8399 to the euro from R10.8995 before, and at R12.8653 against sterling from R12.8919 previously.
The euro was bid at US$1.3107 from its previous close of US$1.3163.
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Source: FIN24
Stocks down as miners hit, resistance weighs
December 12, 2011--South African stocks slid 1.4% on Monday, as a sharp decline in precious metal prices hit miners such as Gold Fields and Impala Platinum.
Shares of RMI Holdings rose nearly 3% after black investment group Royal Bafokeng Holdings said it would increase its stake in the insurance holding company and its affiliate, bank holding firm RMB Holdings.
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Source: FIN24
Rand drops over 2% against dollar
December 12, 2011--The rand fell 2.4% against the dollar on Monday and government bonds extended last week’s losses as South African markets suffered another bout of investor risk-aversion.
The rand opened at 8.10 and even firmed slightly in early trade but was down 2.4% to 8.2760 by late afternoon as investors withdrew from risky positions while a solution to Europe’s debt crisis eludes markets.
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Source: FIN24
