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Bonds track flying rand
April 6, 2011--South African bonds remained on a firm footing in afternoon trade on Wednesday, tracking a strong rand trading at its best levels against the greenback in more three months.
By 16:02 local time, the benchmark R157 bond was trading at 7.690% from its previous close of 7.720%, while the R207 was bid at 8.475% from its previous close of 8.520%. The R186 was trading at 8.690% from its previous close of 8.770%.
The rand was bid at 6.6673 to the dollar from its previous close of 6.7016.
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Source: FIN24
Commodities bolster JSE
April 6, 2011--The JSE picked up 250 points on Wednesday, boosted by commodities, which in turn were lifted by a record gold price, while the local bourse also fed off positive sentiment on global markets.
At its close, the JSE All Share [JSE:J203] index gained 0.79% to 32,630.86 points, led by gold counters, up 2.29%. Platinum miners advanced 1.19% and resources gathered 0.99%.
Banks found 0.58%, financials gained 0.64% and industrials improved 0.62%.
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Source: FIN24
Bonds slip on auction results
April 5, 2011- South African bonds were slightly weaker in afternoon trade on Tuesday following a "slightly worse than expected" auction, according to a local dealer.
By 15:17, the benchmark R157 bond was trading at 7.720% from its previous close of 7.695%, while the R207 was trading at 8.520% from its previous close of 8.510%. The R186 was trading at 8.765% from its previous close of 8.795%.
The rand was bid at 6.6936 to the dollar from its previous close of 6.7151.
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Source: FIN24
JSE posts gains at end of 'dull day'
April 5, 2011--The JSE closed firmly in the black on Tuesday, despite flat trade in Europe and a tentative opening on Wall Street.
There was buying interest across the board and the upward march was led by resource counters, which rose on high commodity prices in spite of the stubbornly strong rand, Andrew Todd, an equity derivatives trader at Imara SP Reid, said. "It's been a dull day and trading only picked up in the last hour of trade. Nothing stands out," Todd said.
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Source: FIN24
Bonds bolstered by short covering
April 4, 2011--Some short covering saw South African bonds on the front foot in late trade on Monday.
A strong rand also helped to bolster the local gilts.
By 15:45, the benchmark R157 bond was trading at 7.705% from its previous close of 7.760%, while the R207 was bid at 8.520% from its previous close of 8.600%. The R186 was at 8.800% from its previous close of 8.875%.
The rand was bid at 6.6791 to the dollar from its previous close of 6.6823.
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Source: FIN24
Lacklustre JSE ends on positive note
April 4, 2011--The JSE ended a fraction firmer on Monday, led by resources, but lacking no clear direction amid thin trade volumes.
A local trader said: "It has been a rather uninspiring day with no real direction amid thin volumes following a decent run last week. The JSE opened in positive territory this morning, tracking markets in Asia, and then drifted with commodity stocks mostly firmer. The US market has opened in positive territory, but nothing to write home about."
At its close, the JSE All Share [JSE:J203] index rose 0.16%, with resources climbing 0.63%. Gold miners lost 0.15%, while platinum miners declined 0.77%. Banks fell 0.78% and financials were 0.43% lower, but industrials were flat.
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Source: FIN24
US run boosts JSE
April 1, 2011--The JSE ended firmer on Friday, heartened by the Dow Jones Industrial Average, which broke through a psychological level, and upbeat US non-farm payrolls data.
But Andrew Todd, an equity derivatives trader at Imara SP Reid, said gains on the local bourse were hampered by the strong rand and lower commodity prices.
At its close, the JSE All Share [JSE:J203] index rose 0.56%, with resources gaining 0.21%, platinum miners advancing 1.78% and gold miners rising 1.22%. Industrials picked up 0.76%, financials were up 0.80% and banks were 1.10% higher.
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Source: FIN24
Bonds bolstered by strong rand
April 1, 2011-- South African bonds were up to eight basis points firmer in late trade on Friday, bolstered by a strong rand.
By 16:00, the benchmark R157 bond was trading at 7.760% from its previous close of 7.820%, while the R207 was bid at 8.615% from its previous close of 8.675%. The R186 was trading at 8.890% from its previous close of 8.970.
The rand was bid at 6.7103 to the dollar from its previous close of 6.7522.
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Source: FIN24
High-speed multi-asset exchange launched
April 1, 2011--The CE Exchange (CEX) launched this morning is expected to bring an important boost to world liquidity and trade. The exchange is an international venture that will trade “anything and everything” using latest international nanosecond technology, according to CEO and founder, Avrilatam Fish.
The commodity section is initially the most active, as screens track soaring prices for gold, oil and other key commodities produced in Africa. The exchange also seeks to draw “a significant portion” of diamond trading back into Africa from shadowy international markets in the Netherlands, Israel and London but some traders are initially reluctant, fearing the new delivery mechanisms could amount to entrapment by southern African law agencies.
Intra-regional currency trade is also a first for the new market, made possible by improved banking systems in several regions. There are two boards, “official” which operates similarly to most international trading systems and “parallel market” where some settlement and delivery problems are already experienced.
However, CEX also promises to open up trading in a wide range of other much needed commodities. Market demand for governance and peace seemed urgent in some countries, and states such as Namibia and Botswana which have settled all disputes peacefully since independence and have democratic institutions and media freedom may be tempted to spread the good news. Outside traders such as Victor Yanukovych (his 2004 election win was annulled after allegations of rigging and lost subsequent free and fair elections) threw into the trading ring his view that it was the right choice to concede even if he did not accept the initial annulment: “I didn’t want dead bodies from Kiev to flow down the Dnipro. I didn’t want to assume power through bloodshed.” Peace futures could attract high prices, arbitraged against the cost of war, although arms traders may stage a dawn raid in coming days.
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Source: African Capital Markets News
Bonds firmer on strong rand
March 31, 2011--South African bonds were firmer in late trade on Thursday on the back of a strong rand, having recovered after some earlier losses owing to worse than expected producer price inflation data for February.
By 15:40, the benchmark R157 bond was trading at 7.820% from its previous close of 7.840%, while the R207 was bid at 8.690% from its previous close of 8.690%. The R186 was trading at 8.960% from its previous close of 9.000%.
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Source: FIN24
