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SA attracts slice of $30bn bond inflows
July 12, 2011-- Bond investors have poured $30bn into the main local debt markets of emerging Europe, Middle East and Africa in the first six months of 2011, up from $25.6bn in the same year-ago period, JPMorgan said on Tuesday.
The bank, which runs the most widely used GBI-EM benchmark indices for local currency emerging debt, said that strong inflows are continuing in July, indicating "a trend rebuilding of positions is underway" in the six regional emerging markets for which comprehensive data is available.
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Source: FIN24
JSE off lows despite eurozone woes
July 12, 2011-- The JSE had moved off its worst levels by midmorning on Tuesday amid some bargain hunting, but concerns over the financial state of countries in the euro zone, with Italy in direct focus, still weighed on the market.
By noon local time, the JSE All-share [JSE:J203] index lost 0.67%, with banks down 0.25% and financials off 0.49%. Industrials shed 0.39%. Platinum miners declined 1.40%, resources moved 1.07% lower and gold miners contracted 0.20%.
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Source: FIN24
Rand rebounds from 6-week low
July 12, 2011-- South Africa's bonds pared some earlier losses on Tuesday after softer-than-expected manufacturing data that suggested monetary policy may remain accommodative way into next year.
The rand also reversed some of its earlier losses after a fall to six-week lows of R6.9512/$ prompted exporters to sell some dollars.
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Source: FIN24
Buying activity fuels JSE recovery
July 11, 2011-- The JSE moved into positive territory by midday on Monday, fuelled by buyers in the market looking to prosper after Friday's sell-off.
By noon local time, the JSE All Share [JSE:J203] index added 0.03%, led by gold, 0.71% higher. Platinum miners, however, declined 0.94%, but resources recovered, adding 0.11%.
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Source: FIN24
Rand mauled by risk aversion
July 11, 2011--South African assets were hit by risk aversion on Monday as investors globally got out of emerging market positions.
The rand dropped more than 2%, among the worst performers in 20 emerging markets watched by Reuters, while pressure from a weekly debt auction expected in the next session added to the bond market’s losses.
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Source: FIN24
Bonds remain firm in quiet late trade
July 8, 2011-- South African bonds were still firm in late trade on Friday, with a local trader saying: "We've been around these levels pretty much the whole session, it's dead quiet."
By 15:50, the benchmark R157 bond was trading at 7.395%, from its previous close of 7.415%. The R207 was bid at 8.265% and offered at 8.240% from 8.265%, and the R186 was trading at 8.435% from 8.465%.
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Source: FIN24
JSE negative amid caution over jobs
July 8, 2011--The JSE surrendered its slender gains at opening by midday on Friday amid some caution over nonfarm payrolls data and profit taking, according to a local dealer.
By noon local time, the JSE All Share [JSE:J203] index lost 0.40%, with banks sliding 0.31% and financials down 0.06%. Industrials also dropped 0.29%. Platinum miners slipped 0.94%, gold miners declined 0.50% and resources fell 0.70%.
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Source: FIN24
JSE buoyed by US data
July 7, 2011-- The JSE ended in the black on Thursday, led by resources stocks and buoyed by better than expected US ADP jobs data, along with market friendly comments by European Central Bank president Jean Claude Trichet.
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.51%, with resources adding 1.17%. Gold miners moved marginally higher by 0.04%, but platinum miners declined 0.07%.
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Source: FIN24
Bonds buoyed by rand, foreign buying
July 7, 2011-- South African bonds maintained their stronger bias and were up to six basis points firmer during late trade on Thursday
A local trader said the stronger rand had boosted the market, and there was a strong appetite for local bonds, especially from foreigners.
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Source: FIN24
Volatile JSE ends on sour note
July 6, 2011--The JSE ended the volatile session lower on Wednesday as a combination of profit-taking, Portugal's downgrade and poor US economic data took a toll on the local market. Gold stocks, however, bucked the trend, putting in a good performance, said Andrew Todd, an equity derivatives trader at Imara SP Reid.
The market, Todd said, had a couple of wild swings today, with knee-gerk reactions to the downgrade of Portugal punctuating increased volatility on the day.
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Source: FIN24