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Rand falls on growing pessimism
September 9, 2011-- The rand slipped against the dollar in late afternoon trade on Friday, as it tracked a euro made jittery by remarks from the European Central Bank (ECB) and the US Federal Reserve, causing investors to grow more pessimistic about the outlook for global growth.
"It's been one-way traffic for most currencies today against the dollar because the greenback has performed admirably," a local rand trader said.
He added that there were a lot of issues to worry investors.
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Source: FIN24
JSE follows world markets
August 8, 2011--The JSE closed in positive territory on Thursday, tracking international markets.
A local trader said the market had held up pretty well in the face of lower US futures. Despite negative futures, the US market rose into the black buoyed by some positive sentiment ahead of President Barack Obama's speech later in the day.
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Source: FIN24
Bonds regain lost ground, rand softer
September 8, 2011--Bonds on Thursday gained back some of the ground lost in the previous session, with further gains seen if July’s manufacturing output data comes out weak at 11:00 GMT.
The rand has been drifting in ranges this week, and will mainly look abroad for direction, particularly the European Central Bank and US Federal Reserve’s comment later.
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Source: FIN24
Rand softer against dollar
September 8, 2011--The rand remained a tad softer against the dollar in noon trade on Thursday, as markets awaited direction from events at the European Central Bank (ECB) and the US Federal Reserve.
"It seems as though markets generally are waiting for something to happen, although the local market has been fairly active and we've had decent volumes going through," a local currency trader said.
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Source: FIN24
JSE closes 3.35% stronger
September 7, 2011--The JSE rallied on Wednesday, ending the session more than 3% on the positive side, boosted firmer by sentiment on global markets.
By 17:00 local time, the JSE All-share [JSE:J203] index had lifted 3.35%, with resources up 3.82%. Platinum miners gained 3.40%, but gold miners fell 0.73%. Banks surged 4.61%, industrials collected 3.15%, and financials garnered 3.22%.
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Source: FIN24
Rand firmer against dollar, eyeing euro
September 7, 2011--The rand remained firmer against the dollar in noon trade on Wednesday as it tracked the euro. The common currency moved briefly higher after a German Constitutional Court ruling which upheld the first rescue bailout of Greece.
"We'll have to watch the euro which only spiked for a short amount of time on the court decision - if it collapses any further then I see dollar/rand pushing through R7.16," a local rand trader said.
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Source: FIN24
Bonds weaken further on selling
September 7, 2011--South African bonds were up to 12 basis points weaker in volatile midday trade on Wednesday on the back of selling.
By 11:50, the benchmark R157 bond was trading at 6.420% from 6.320% at the previous close. The R207 was bid at 7.600% and offered at 7.585% from 7.470% and the R186 was trading at 7.840% from 7.730%.
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Source: FIN24
Bonds weaken further on selling
September 7, 2011--South African bonds were up to 12 basis points weaker in volatile midday trade on Wednesday on the back of selling.
By 11:50, the benchmark R157 bond was trading at 6.420% from 6.320% at the previous close. The R207 was bid at 7.600% and offered at 7.585% from 7.470% and the R186 was trading at 7.840% from 7.730%.
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Source: FIN24
SA competitiveness creeps up
September 7, 2011-- South Africa has improved its ranking and remains the highest-ranked country in sub-Saharan Africa on the World Economic Forum's (WEF's) global competitiveness index, released on Wednesday.
"South Africa moves up by four places to attain 50th position this year, remaining the highest-ranked country in sub-Saharan Africa and the second-placed among the Brics (Brazil, Russia, India, China, South Africa) economies," according to the Global Competitiveness Report 2011-2012.
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Source: FIN24
Stocks knocked by renewed jitters
September 6, 2011--Global stock markets fell on Tuesday on fears of the European debt crisis worsening, while the Swiss franc plunged 8% against the euro after Switzerland’s central bank sought to slow the safe-haven rush into its currency, which it worries could hurt its economy.
Nervous investors channeled cash into less risky assets as doubts resurfaced over Italy and Greece’s willingness to implement tough budget and debt measures demanded by other eurozone members, while Germany hardened its stand against giving them more aid.
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Source: FIN24
