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JSE gains on US housing data
July 19, 2011-- The JSE ended in the black on Tuesday buoyed by sentiment in both Europe and the US.
By 17:00 local time, the JSE All Share [JSE:J203] index garnered 0.59%, with platinum miners rising 1.45%, and resources up 1.40%. Gold miners however, lost 0.75%. Banks slipped 0.04%, financials eked out a gain of 0.06%, and industrials added 0.19%.
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Source: FIN24
Bonds stay firm in late trade
July 19, 2011--South African bonds were firmer in late trade on Tuesday, which a trader said was on the back of the strong local currency.
"The rand has strengthened a few cents and we're tracking that. The auction also went quite well," the trader said
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Source: FIN24
Strikes weigh down rand
July 19, 2011--The rand recouped some of its overnight losses against a struggling dollar on Tuesday but was on the back foot against other currencies, as wage strikes that have hit fuel supplies dampened sentiment towards local assets.
Government bonds were steady or firmer after a weekly auction that showed strong demand at the longer end of the curve.
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Source: FIN24
JSE in the red on eurozone worries
July 18, 2011--The JSE continued in the red on Monday afternoon as global markets remained concerned about the eurozone debt crisis. A local trader said that gold stocks were the only performers at midday on the back of a higher gold price and a weaker rand.
By noon local time, the JSE All-share index lost 0.84%, with banks down 1.52%, financials off 1.03% and industrials down 0.94%. Resources fell 0.67%, while platinum miners gave up 0.40%.
Gold miners were positive, adding 2.14%.
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Source: FIN24
Bonds maintain weaker bias
July 18, 2011--- South African bonds remained up to five basis points weaker during late trade on Monday, which a trader attributed to the soft rand weighing on the market.
By 15:50, the benchmark R157 bond was trading at 7.530% from a previous close of 7.480%. The R207 was bid at 8.415% and offered at 8.385% from 8.365%, and the R186 was trading at 8.635% from 8.595%.
The rand was bid at 6.9810 against the dollar from its previous close of 6.8886.
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Source: FIN24
Bonds stay quiet in subdued trade
July 15, 2011-South African bonds remained mostly flat in quiet late trade on Friday, amid low volumes. The longer-dated R186s were slightly firmer.
By 15:50, the benchmark R157 bond was trading at 7.470%, unchanged from its close. The R207 was bid at 8.370% and offered at 8.345% from 8.365%, and the R186 was trading at 8.580% from 8.585%.
The rand was bid at 6.9049 against the dollar from its previous close of 6.8326.
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Source: FIN24
Risk aversion drags down rand
July 15, 2011--The rand was weaker against the dollar in late afternoon trade on Friday on risk aversion, as markets anxiously awaited the results of stress tests on European banks and amid worries about the US debt ceiling.
"The rand still hasn't gone beyond R6.95/$ but it is exhibiting a weakening bias," Standard Bank forex analyst Michael Keenan said.
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Source: FIN24
Manufacturers call for action on rand
July 15, 2011--The persistently strong and volatile rand remains a major concern for manufacturers, according to the Manufacturing Circle's (MC) bulletin for the first quarter released on Friday.
The MC comprises 26 of SA's leading manufacturing companies, including Hulamin, PG Group, Consol Glass, PPC and Bell Equipment.
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Source: FIN24
JSE ignores US data to close down
July 14, 2011--The JSE ignored some positive data out of the US to close slightly lower on Thursday. JP Morgan Chase's earnings came in better than expected, but concerns over a possible downgrading of US bonds weighed on investors.
By 17:00 local time, the JSE All Share [JSE:J203] index fell 0.33%, with gold miners shedding 1.02%, resources losing 0.72% and industrials falling 0.18%. Platinum miners, however, rose 2.13%, while banks gained 0.46% and financials 0.11%.
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Source: FIN24
Bonds firm, but off day's best levels
July 14, 2011--South African bonds remained firm but were off the day's best levels in late trade on Thursday.
By 15:50, the benchmark R157 bond was trading at 7.460% from its previous close of 7.510%. The R207 was bid at 8.390% and offered at 8.370% from 8.400%, and the R186 was bid at 8.615% and offered at 8.590% from 8.625%.
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Source: FIN24
