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Rand extends gains against dollar
October 10, 2011--The rand extended gains against the dollar to 2.3% on Monday, touching a 1-1/2 week high as investors ventured back into emerging markets on a raft of positive news about eurozone debt.
The rand rallied to a session high of 7.8175 and was at 7.8201 by 15:14 GMT, compared with Friday's close at 8.0000.
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Source: FIN24
SA, global stocks get fillip from US data
October 7, 2011--South African share prices rose for a third straight session on Friday, buoyed by stronger-than-expected jobs data out of the United States.
However, shares in gold firms were hit as investors poured money into riskier assets.
The index of Johannesburg-listed bullion miners slid by more than 1% with Harmony Gold falling 1.6% to R93.53.
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Source: FIN24
Rand in a range ahead of US jobs data
October 7, 2011--The rand flirted with the 8.00 level against the buck in midday trade on Friday, awaiting US payrolls data.
Michael Keenan, head of Forex Research at Standard Bank said he expected the rand to remain range bound ahead of the US jobs data, adding that holidays in both the US and Japan on Monday might also curb trading volumes.
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Source: FIN24
Bonds firm in quiet trade
October 7, 2011--South African bonds remained firmer in quiet midday trade on Friday ahead of key economic data due out in the US later in the day.
trading at 8.470% from its close of 8.510%.
By 11:55, the benchmark R157 bond was trade at 6.760% from its previous close of 6.800%. The R207 was bid at 8.150% and offered at 8.145% from a previous close of 8.160% and the R186 was trading at 8.470% from its close of 8.510%.
The rand was bid at 7.9926 against the dollar from its previous close of 7.9270.
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Source: FIN24
Rand falls against dollar
October 6, 2011-- The rand fell 1.2% against the dollar on Thursday after a survey pointed to a decline in domestic business confidence, and also tracking losses in the euro after the European Central Bank left interest rates unchanged.
The rand was at R8.0550/$ in afternoon trade, after briefly touching a session low of R8.0655/$ from Wednesday’s close at R7.97.
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Source: FIN24
SA's foreign exchange reserves dip
October 7, 2011--South Africa's net gold and foreign exchange reserves fell more than expected to $47.93bn at the end of September from $49.125bn in August, data from the Reserve Bank showed on Friday.
A Reuters poll last week showed the market was expecting net reserves to fall to $48.6bn in September.
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Source: AME Info
JSE extends rally on world stocks
October 6, 2011--The JSE extended gains in midday trade on Thursday, tracking the positive trend on global markets amid renewed hopes that the eurozone will contain debt crises within member states.
"I don't believe we are out of the bear market syndrome yet. But in the short term, I don't see any reason why we should drop further than we already have," said Ian Cruickshanks, market watcher at Nedbank Capital.
By 12:01 local time, the JSE All Share [JSE:J203] index had picked-up 1.61%, with Banks leading the way up 2.16%, resources lifting 1.90% and platinum miners gaining 1.46%. Gold lifted 1.11%, industrials were 1.37% higher, while financials generated 1.48%.
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Source: FIN24
Bonds firm on momentum from rand
October 6, 2011--South African bonds remained firmer in midday trade on the back of the stronger-looking rand.
By 11:50, the benchmark R157 bond was trading at 6.770% from its previous close of 6.820%. The R207 was bid at 8.125% and offered at 8.110% from a previous close of 8.150% and the R186 was trading at 8.460% from its close of 8.520%.
The rand was bid at 7.9768 against the dollar from its previous close of 7.9624.
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Source: FIN24
Zimbabwe FM positive about growth
October 6, 2011--Zimbabwe’s economy is projected to grow by up to 9% next year, driven by stronger farm output and mine exports, Finance Minister Tendai Biti said Wednesday.
"The economy is projected to grow by 7.8% to 9% in 2012, compared to a growth rate of about 9.3% in 2011," Biti said in a pre-budget statement to parliament.
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Source: FIN24
JSE comes off earlier highs
October 5, 3011--The JSE came off earlier highs at noon as the combination of a slightly firmer rand and Italy's bond ratings downgrade affected the market.
A local trader said that some shares with overseas exposure were taking a hit because of the volatile rand level. He said the rand was putting commodity prices under pressure.
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Source: AME Info
