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Strong rand holds firm
January 3, 2011--South African stocks inched higher in thin trading on Monday, helped by firmer commodity prices, and the rand touched a near 3-1/2 year high against the dollar, adding to the chances of another cut in interest rates.
The JSE Top-40 index of blue chips rose 0.67% while the broader All-share index gained 0.59%.
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Source: FIN24
China makes nuclear fuel breakthrough
January 3, 2011--Chinese scientists have made a breakthrough in nuclear fuel reprocessing technology that could effectively end any uranium supply concerns, state media reported on Monday.
The technology developed by state-run China National Nuclear Corp enables the country to re-use irradiated nuclear fuel, China Central Television said.
"China's proven uranium sources will last only 50 to 70 years, but this now changes to 3 000 years," said the report.
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Source: FIN24
Bonds close session mainly flat
December 31, 2010-- In their last session for 2010, South African bonds were mostly flat in quiet midday trade on Friday, while the R157s remained a tad firmer.
Markets closed at noon ahead of the New Year's Day holiday tomorrow and have been very thin throughout the week with many players on holiday between Christmas and New Year.
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Source: FIN24
JSE ends 2010 on a weaker note
December 31, 2010-- The JSE ended 2010 on a slightly negative note on Friday, with some local investors placing last-minute trades as they squared off positions before the year-end.
Markets closed at noon ahead of the New Year's Day holiday tomorrow.
Volumes were light in line with overseas equities, one trader said.
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Source: FIN24
Rand on a roll
December 31, 2010--The rand was slightly weaker in extremely thin noon trade on Friday.
However, the local unit retained its firm tone, looking set to end 2010 around its best levels in more than three years.
In afternoon trade the rand was bid at R6.6310/$ from R6.6074/$ at its previous close.
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Source: FIN24
In the Wake of the Global Economic Crisis: Adjusting to Lower Revenue of the Southern African Customs Union in Botswana, Lesotho, Namibia, and Swaziland
December 30, 2010--The Southern African Customs Union (SACU) is facing its biggest challenge in its 100 years of existence. The global economic crisis has significantly reduced its revenue outlook, which is having a disproportionate impact on its smaller member countries, and which calls for an appropriate policy response.
This paper discusses specifically the implications for Botswana, Lesotho, Namibia, and Swaziland, and provides recommendations regarding the proper fiscal response by these countries to the decline in SACU revenue.
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Source: IMF
Bullish rand stays on form
December 29, 2010-- The rand remained steady in thin midday trade on Wednesday, although it weakened slightly against the dollar to pull back from a three-year high.
On Tuesday it hit a 37-month best level of R6.6470/$.
In thin midday trade it was bid at R6.6625/$ from R6.6671/$ at its previous close.
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Source: FIN24
Bonds stagnant in quiet trade
December 29, 2010-- South African bonds were flat in late trade on Wednesday, amid thin volumes and an extremely quiet session.
Not much is expected to happen this week, as markets remain thin between Christmas and New Year, with many players still on holiday.
By 15:45 the benchmark R157 bond was unchanged at 7.385%, from its previous close, while the R207 was bid at 8.220% from 8.195% at its previous close. The R186 was bid at 8.390% after closing at 8.365%.
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Source: FIN24
Resources boost JSE in thin trade
December 29, 2010-- The JSE closed a tad firmer in thin trade on Wednesday, with resource counters providing much of the support. Trading in equities, commodities and other markets in South Africa and worldwide is light due to the holiday season.
The dollar was slightly softer, while commodity prices were stronger, a dealer said.
At 17:00, the JSE all share index was virtually rose 0.35%, with gold miners rising 1.08%, platinum miners adding 0.68% and resources gaining 0.91%. Banks was up 0.22%, while financials (0.05%) and industrials (-0.06%) were flat
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Source: FIN24
SA not just another Bric in the wall
December 29, 2010-- South Africa's ascension to the Bric group of major emerging economies was more about politics than economics and reflects expectations it will be the gateway for investment in the fast-growing continent.
With a $285bn economy, a much smaller population and tepid growth of about 3%, South Africa pales in comparison to the other Bric states: Brazil, Russia, India and China.
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Source: FIN24
