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Rand remains softer against dollar
September 14, 2011--The rand remained weaker against the dollar in noon trade on Wednesday as it tracked a faltering euro and speculation that Greece would default showed no sign of abating.
"The dollar is keeping its strength as safe haven demand increases," a local rand trader said.
"The biggest driver for the rand though is news out of Europe," he added.
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Source: FIN24
Bonds weak but off worst levels
September 14, 2011--South African bonds retained their weaker bias but were off the day's worst levels in late trade on Wednesday, as concern over an imminent Greek default continued to cast a shadow.
A local trader noted that it had been an "extremely" volatile day.
By 15:50, the benchmark R157 bond was trading at 6.930%, from its previous close of 6.820%. The R207 was trading at 8.100% from 7.985% and the R186 was trading at 8.250%, from its close of 8.240%.
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Source: FIN24
JSE drops following eurozone concerns
September 13, 2011--The JSE turned around at noon on Tuesday as negative sentiment surrounding the European debt crisis crept back in.
A local trader said that trade had become quite volatile. Concerns remain around the sovereign debt situation despite talk of China getting involved.
"The talk of China's involvement is not official and investors have now begun to consider how much effect the move would have even if it went through."
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Source: FIN24
Rand off 5-week lows, bonds weaken
September 13, 2011--South Africa's rand gained against the dollar on Tuesday, bouncing from 5-week lows as exporters came in the market and sentiment towards risky assets improved in late trade.
Stocks rose for the first time in three sessions as FirstRand [JSE:FSR] finished up nearly 3 percent after South Africa's second-largest bank said it would pay a special dividend.
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Source: FIN24
JSE ends firmly weaker
September 12, 2011--The JSE ended firmly in negative territory on Monday, but off the session's lows.
The local exchange followed the weaker trend on the main global stocks amid fears that Greece might default on its debt obligations.
The JSE was more than 2% down at one stage before recovering some of the losses.
By 17:00 local time, the JSE All-share [JSE:J203] index had lost 1.43% with a strong decline seen in platinum stocks, which fell 3.01%. Financials fell 0.98% and industrials shed 1.81%. Resources gave up 1.21%, while banks lost 0.66%.
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Source: FIN24
Rand drops to month low against dollar
September 12, 2011--The rand slid against the dollar to just over a month low on Monday and in noon trade continued to track an unsteady euro.
"It's not a pretty picture at the moment," a local rand trader said.
"There has been an enormous loss of confidence in the Eurozone and a terrific sell-off in euros."
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Source: FIN24
Bonds weaker amid risk aversion
September 12, 2011- South African bonds were weaker in late trade on Monday, mainly on the back of the softer rand and concern over the euro. Global markets are on edge over fears that the eurozone sovereign debt crisis is spiralling out of control.
A local trader noted that there had been buying into weakness, but there were generally more sellers around.
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Source: FIN24
JSE tracks global stocks weaker
September 9, 2011--The JSE remained weaker in midday trade on Friday, tracking the lower trend on main global markets.
By 12:01 local time, the JSE All Share [JSE:J203] index was down 0.91%, with financials leading the downside at 1.14%, banks shed 1.09%, and industrials fell 0.88%. Resources were 0.85% off.
Gold slipped 0.23% while platinum miners rose 0.58%.
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Source: FIN24
Bonds retreat after gains, rand flat
September 9, 2011--Bonds pulled back slightly on Friday after the previous day’s strong gains, but their long-term outlook remains bullish as domestic and global data point to an economic slowdown that could merit further interest rate cuts.
The rand steadied against the dollar in early trade and would likely be driven by offshore economic data, given a dearth of market-moving local news, traders said.
Rand falls on growing pessimism
He added that there were a lot of issues to worry investors.
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Source: FIN24
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.
Source: FIN24
