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Shorter dated bonds weaker
January 18, 2011--South African shorter dated bonds were weak in late trade on Tuesday, which a trader said was on the back of market consensus that there would be no rate cut at the end of the Reserve Bank's Monetary Policy Committee (MPC) meeting on Thursday.
By 15:56, the benchmark R157 bond was trading at 7.730% from its previous close of 7.680%, while the R207 was bid at 8.560% from its previous close of 8.530%. The R186 was trading at 8.640% from 8.660%.
The rand was bid at 6.8665 to the dollar from its previous close of 6.8666.
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Source: FIN24
JSE rebounds thanks to resources
January 18, 2011--The JSE rebounded strongly on Tuesday, with resources leading the upside and global stocks boosting sentiments on the local bourse.
Resource counters led the upside, Andrew Todd, equity derivatives trader at Imara SP Reid, said. Following overreaction yesterday, when the JSE fell 1.06%, the domestic exchange staged a strong rebound, Todd said.
At 17:00 local time, the JSE all share index was up 0.75%, with resources firming 1.45%, platinum miners gaining 1.07%. But gold miners ended flat on the day. Financials rose 0.19%, banks picked up 0.37% and industrials were up 0.33%
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Source: FIN24
Bonds weak on rand; offshore sales
January 17, 2011--South African bonds were weak in early trade on Monday, on the back of the softer local currency and what a trader described as a "huge chunk" of foreign selling last week.
Foreigners were net sellers of R9.503bn worth of South African bonds including repurchase agreements in the week ended January 14, figures from the Bond Exchange of South Africa show. They sold a net R8.488bn of South African bonds excluding repurchase agreements last week.
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Source: FIN24
China news, resources knock JSE
January 17, 2011--The JSE started the week off on a sour note on Monday, dropping nearly 350 points on softer resource stocks and news that China will raise its banks' reserves requirement ratio.
But the local market was quiet as the US market is closed for the Martin Luther King Day holiday in the US today, an equity dealer said.
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Source: FIN24
Industrials help lift JSE at close
January 14, 2010--The JSE finished the week a tad firmer after trading most of the day in negative territory following a string of mixed economic data out of the US, Europe and China. Industrials were 288 points higher at the JSE close on Friday.
At 17:00 local time, the JSE all share index was up 0.09%, with industrials up 0.89%.
Banks were 0.94% weaker, and financials lost 0.57%, while gold miners, gave up 0.43%. Resources fell 0.41%, while platinum lost 0.16%.
The rand was trading at R6.92 to the dollar from R6.81 at the JSE's close on Thursday.
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Source: FIN24
Bonds take strain on offshore sales
January 13, 2011-- South African bonds were up to 8 basis points weaker in late trade on Thursday on the back of 'substantial' offshore selling.
By 15:30, the benchmark R157 bond was trading at 7.480% from its previous close of 7.415%, while the R207 was trading at 8.260% from its previous close of 8.260%. The R186 was trading at 8.510% from 8.415%.
The rand was bid at 6.8346 to the dollar from its previous close of 6.8118.
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Source: FIN24
Resources help JSE defy slide
January 13, 2011-- The JSE finished firmer on Thursday, with the local bourse outperforming its global counterparts thanks to local resources, which bolstered the market. London's FTSE, Paris's CAC and Wall Street, which normally give local investors direction, were last trading in negative territory.
At 17:00 local time, the JSE all share index was up 0.46%, with platinum rising 1.56% and resources jumping 0.96%. But gold miners, the only losers for the day, fell 0.45%. Banks firmed 0.47% and financials inched up 0.25%, while industrials were relatively flat (0.06%).
The rand was trading at 6.81 to the dollar from 6.83 at the JSE's close on Wednesday.
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Source: FIN24
Resources push JSE to firmer close
January 12, 2011--The JSE gave up some gains but ended firmer on Wednesday, with resources stocks gaining flavour on the back of high commodity prices. With the exception of gold stocks, other mining counters made solid gains.
The Portuguese bond auction, which seemed to have gone smoothly, also boosted sentiments and reduced fears, said Andrew Todd, an equity derivatives trader at Imara SP Reid.
In midday trade, the JSE all share index was 1.27% higher.
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Source: FIN24
BSE prepares for second ETF listing
January 12, 2011--The Botswana Stock Exchange (BSE) expects to host the listing of the country's second Exchange Traded Fund (ETF) as early as February, marking further growth of an asset class that debuted on the local bourse last July.
Nedbank Capital's BettaBeta ETF exactly replicates the FTSE/JSE Equally Weighted Top 40 Index, which comprises 40 of the largest and most prominent companies listed on the JSE. The list of blue chip companies is re-assessed every quarter to make sure that it is always reflective of the "best of the best."
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Source: Mmegionline
Emerging Africa Expected To See Rise in Investment
Africa's new trading partners seeking direct investment opportunities
Asset managers looking for countries that inspire investor confidence
Coherent macroeconomic policy, foreign exchange regimes vital
January 12, 2011--Having demonstrated resilience during the global financial crisis, Africa’s emerging market countries have good prospects for 2011.
Foreign direct investment, particularly from Africa’s new trading partners in Asia, is expected to strengthen and demand for African bonds is set to increase.
Such diversification of financing sources for much-needed public investment would be welcome, but would also require a coherent macroeconomic policy and foreign exchange regime to cope with capital flow surges, especially if they have historically been prone to debt problems.
More private capital ahead
Advanced-industrial-country policy measures, albeit needed to shore up their own growth prospects, have led to historically low yields and, in some cases, significant increases in public debt. These trends, coupled with strong growth prospects in many emerging markets, have led investors to look further afield.
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Source: IMF
