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JSE braces for futures close-out
June 14, 2011--The JSE ended slightly firmer on Tuesday, but it underperformed its US and European counterparts despite positive economic data.
Resources, including Exxaro Resources [JSE:EXX], were big market-movers today, said Andrew Todd, an equity derivatives trader at Imara SP Reid, noting that futures-related activity dominated action on the local exchange. The futures close-out occurs on Wednesday.
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Source: FIN24
Bonds weaken a bit after US PPI data
June 14, 2011--South African bonds were slightly weaker in late trade on Tuesday, which a Cape Town-based trader said was on the back of a higher than expected US producer price index (PPI) figure.
"We're basically a bit weaker on the US PPI figure. The US equity market is looking stronger and the bonds are up - the US 10-year is at 306 from 301 this morning. The rand hasn't done much today; it's been stuck in a range," she said.
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Source: FIN24
Bonds weaken a bit after US PPI data
June 14, 2011--South African bonds were slightly weaker in late trade on Tuesday, which a Cape Town-based trader said was on the back of a higher than expected US producer price index (PPI) figure.
"We're basically a bit weaker on the US PPI figure. The US equity market is looking stronger and the bonds are up - the US 10-year is at 306 from 301 this morning. The rand hasn't done much today; it's been stuck in a range," she said.
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Source: FIN24
Marcus: Sarb has kept rand in check
June 14, 2011--The South African Reserve Bank will continue to accumulate foreign reserves to tame the strength of the rand despite running up a financial loss over the last year, Governor Gill Marcus said on Tuesday.
"The reserve bank is not for profit. We take decisions in the interest of the country and the exchange rate is important in terms of its impact," Marcus said, adding that the bank did not target a specific level for the rand.
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Source: FIN24
Bonds retain weak sheen in late trade
June 13, 2011--South African bonds remained in weak territory during late trade on Monday, largely on the back of the softer local currency. A trader noted that the market was quiet and volumes were thin.
By 15:50, the benchmark R157 bond was trading at 7.490% from its previous close of 7.470%. The R207 was bid at 8.305% and offered at 8.275% from 8.275% and the R186 was trading at 8.520% and offered at 8.505% from 8.495%.
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Source: FIN24
Flat JSE remains nervous
June 13, 2011-- The JSE erased earlier losses before closing flat on Monday, with bargain-hunting and global corporate deals failing to calm investors, who remained concerned about the worsening global economic prospects.
The big sell-off in equities last week saw key indices globally, including the JSE all-share index, break through technical support levels, said Kevin Algeo, portfolio manager at Imara SP Reid. Stability has returned and investors are looking for bargains, Algeo said.
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Source: FIN24
JSE, world stocks slide on global gloom
June 10, 2011--South African stocks slid more than 1% on Friday, dragged down by resource firms such as platinum producer Lonmin [JSE:LON], and the rand was also weaker against the dollar mainly on global risk aversion.
The JSE Top-40 index of blue chips fell 1.76% to hovering near the key support level of 28 000 which it has failed to breach three times since mid-March. The All-Share [JSE:J203] index lost 1.49%.
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Source: SEC.gov
Bonds drift weaker in quiet trade
June 10, 2011-- South African bonds were up to six basis points weaker in quiet late trade on Friday, as the weaker rand continued to weigh on the market. Traders noted that trade had been very thin and there was not much in the way of news to offer fresh direction.
By 15:50, the benchmark R157 bond was trading at 7.435% from its previous close of 7.410%. The R207 was bid at 8.245% and offered at 8.240% from 8.185% and the R186 was trading at 8.480% and offered at 8.465% from 8.420%.
Bonds remain weak but off worst levels read more
JSE higher despite mixed US data read more
Source: FIN24
June 9, 2011--South African bonds retained their weaker sheen in late afternoon trade on Thursday, which a trader said was on the back of the marginally softer local currency.
By 15:50, the benchmark R157 bond was trading at 7.410% from its previous close of 7.400%. The R207 was trading at 8.802% from 8.160% and the R186 was trading at 8.440% from 8.400%.
Source: FIN24
June 9, 2011--The JSE ended with modest gains on Thursday after a trading session dominated by US economic data, which gave mixed signals.
Mining stocks, gold producers in particular, posted strong gains in part due to bargain-hunting and firmer oil prices, said Drikus Combrinck, portfolio manager at PSG Konsult.
Source: FIN24