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Rand slightly firmer against dollar
December 29, 2011-- South Africa's rand firmed against the dollar on Thursday with fewer importers around to buy dollars towards year-end but decent two-way trade left 8.10 resistance intact.
The currency traded in a 10 cent range between 8.12 and 8.22 per dollar in Thursday's session. It attempted 8.10 in the previous session but failed to break through that level.
If the rand manages to strengthen past 8.10 -- a level attempted in the past week and in November -- 8 rand forms the next area of resistance.
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Source: FIN24
JSE edges lower after US open
December 28, 2011--The JSE ended the day a shade lower as US markets started trade.
A local trader said: "The JSE started off flattish, but gold share prices came under a lot of pressure, however the market managed to get into positive territory, but as the US came in, we weakened a little."
He said there was not much in the way of economic data of any significance lately.
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Source: FIN24
Rand firms, stuck at resistance level
December 28, 2011--The rand firmed for a fifth day against the dollar on Wednesday, boosted by year-end flows and support for riskier assets from a stable euro.
The rand was 0.4 percent firmer against the dollar at 8.1190 by 1430 GMT, up from its previous close at 8.15. It strengthened to 8.10 in the session before bouncing back from that resistance level as trading volumes stayed thin.
"Although euro/dollar has been mostly rangebound, the rand may be getting support from a few year-end flows, allowing the unit to firm," said Anisha Arora, an emerging markets analyst at 4Cast Limited.
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Source: EUbusiness
SA stocks edge up, may end 2011 level
December 23, 2011--South African stocks ended a holiday-shortened session higher on Friday, gaining 0.8% as firmer commodity prices helped put the benchmark index at a break-even level for 2011.
The JSE Top 40 (Tradeable) [JSE:J200] blue-chip index rose for the second straight session, finishing at 28 641.11, virtually unchanged so far this year, but on course to outperform European and Japanese equity markets, both down about 12% and 17% respectively.
The broader All Share [JSE:J203] index was 0.7% higher at 32 127.25.
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Source: FIN24
Rand firms slightly against dollar
December 23, 2011--The rand was firm against the dollar in early trade on Friday but looked to close within last week’s range as thin trade and lack of market-moving data see the local currency follow the euro’s moves.
Bonds are expected to continue their gradual gains in the session as reinvestment of coupon payments and an illiquid market pushes prices to a two-week high.
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Source: FIN24
JSE boosted by US data
December 22, 2011--The JSE held onto its gains at close on Thursday buoyed by better than expected US employment data, while investors in Europe took a more positive view of the European Central Bank's refinancing operation.
At 17:00 local time, the JSE All Share [JSE:J203] index was up 0.81%, boosted by a 1.04% rise in platinum miners and a 0.80% jump in resources. However, gold miners declined 0.79%.
Banks rose 1.28%, financials advanced 0.98% and industrial counters gained 0.77%.
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Source: FIN24
Rand off best levels, bonds firm
December 22, 2011--The rand was off its best levels of the day against the dollar in thin Thursday afternoon trade while South African bonds remained on a firm footing.
By 15:50, the benchmark R157 bond was trading at 6.750% from its previous close of 6.780%. The R207 was bid at 7.935% and offered at 7.910% from a previous close of 7.950% and the R186 was bid at 8.525% and offered at 8.495% from its close of 8.540%.
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Source: FIN24
JSE ends off as Dow declines
December 21, 2011--The JSE was dragged weaker on Wednesday, but in line with a negative start on Wall Street as concerns remained over no long-term solution to the eurozone debt crisis.
A local dealer said that the few investors who were still trading and not already on the beach were still digesting the results of the European Central Bank's longer-term refinancing initiative.
At 17:00 local time, the JSE all-share index was off by 0.43%, having opened 0.71% to the good and being dragged lower by commodities. Gold miners subsided 0.73%, platinum miners shipped 1.39% and resources waned 1.08%.
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Source: FIN24
Rand turns weaker, bonds hold gains
December 21, 2011-- The rand reversed its earlier gains against the dollar on Wednesday as wary investors lost their appetite for risky assets on nagging worries about debt constraints in the euro zone, South Africa's main trading partner.
Government bonds however closed firmer and yields fell, with the bond exchange's yearend shorter trading hours shielding the local debt market from the currency's losses.
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Source: FIN24
FTSE Group working on Pan-Africa index with African Securities Exchanges Association
December 21, 2011--FTSE (www.ftse.com) is working on a FTSE-ASEA index with the African Securities Exchanges Association (www.africansea.org), which will help to unlock Africa an investment for larger portfolio investors.
According to Imogen Dillon Hatcher, Executive Director, FTSE Group, speaking at the ASEA conference in Marrakech, Morocco, on 12 Dec, the index will make clear how much Africa is outperforming the rest of the world: “A ‘back-cast’ of the FTSE Africa index performs better than FTSE world index by quite a margin”. The index covers stocks on 16 exchanges and is adjusted for investibility, including free float and liquidity.
She said that FTSE Group was restructured on 12 Dec, with the London Stock Exchange Group buying out the 50% share owned by Pearson, owner of the Financial Times newspaper, “as of this morning”.
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Source: African Capital Markets
