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Rand stays firm and scales new high
December 28, 2010- The rand advanced to a new three-year high against a broadly weaker dollar on Tuesday and was also boosted by higher metal prices.
The rand traded at R6.6750/$ in afternoon trade, which was 1% firmer than Monday's New York close of R6.7415/$. It touched R6.6725/$, its strongest since December 2007.
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Source: FIN24
JSE ends flat as rand strengthens
December 28, 2010-- The JSE ended little changed in quiet trade on Tuesday, with the strong rand putting downward pressure on export-oriented stocks especially mining counters.
Kevin Algeo, portfolio manager at Imara SP Reid, said trade volumes were light, noting that there was a little bit of profit taking. Around R2.5bn in total value traded today. On average, between R12bn and R14bn is traded.
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Source: FIN24
Bonds close flat in pre-Xmas trade
December 24, 2010-- South African bonds were flat and mostly untraded at midday on Friday, in what a trader described as an extremely quiet session ahead of the Christmas long weekend. The bond market closed at noon ahead of the Christmas Day holiday and will reopen on Tuesday December 28th.
By 12:00 the benchmark R157 bond was unchanged at 7.400%, from its previous close, while the R207 was bid at 8.220% from 8.210% at its previous close. The R186 was bid at 8.390% after closing at 8.380%.
The rand was bid at 6.7320 to the dollar from its previous close of 6.7482.
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Source: FIN24
JSE ends weaker on global stocks
December 24, 2010--- The JSE ended slightly weaker in thin trade on Friday as it tracked wobbly global equities, denying local investors the traditional so-called "Santa Claus" rally before Christmas.
Domestic markets closed at midday ahead of the Christmas long weekend.
Trade volumes were light, with just over R1bn total value traded for the shortened day.
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Source: FIN24
JSE inches up ahead of Christmas break
December 23, 2010--The JSE eked out small gains in subdued trade on Thursday, as investors wind down one day before Christmas.
Volumes are light on the local bourse in line with global stocks.
Gold stocks fell on the back of the weaker bullion price, Andrew Todd, equity derivatives trader at Imara SP Reid, said.
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Source: FIN24
Coal and diamonds should do well in 2011
December 22, 2010--EXPORT thermal coal prices are rising, which is good news for South African coal exporters as Transnet Freight Rail (TFR) finally gets its act together on railage volumes to Richards Bay.
According to RBC Capital Markets (RBC), thermal coal prices have risen sharply since mid-October, setting a series of year-to-date peaks while indications were that contracts for 2011 delivery were being settled at around $115 per tonne.
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Source: miningmx
Bonds tad weaker in quiet trade
December 22 2010--South African bonds were slightly weaker in late trade on Wednesday, amid thin volumes and quiet trade.
By 15:45 the benchmark R157 bond was at 7.400%, from its previous close of 7.380%, while the R207 was bid at 8.225% and offered at 8.195% from 8.195% at its previous close. The R186 was bid at 8.395% and offered at 8.365% after closing at 8.360%.
The rand was bid at 6.7962 to the dollar from its previous close of 6.8288.
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Source: FIN24
JSE ends flat
December 22, 2010-- The JSE finished on a flat note on Wednesday after a volatile session, which saw the local bourse swing from gains to losses. Mining stocks fell, while financials and industrials were higher.
The local market was stronger for most pf the day, Kevin Algeo, portfolio manager at Imara SP Reid, said. But by 16:45 local time, the market had dropped 150 points since the US GDP data came out, Algeo said.
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Source: FIN24
Sarb index shows SA growth on track
December 22, 2010--South Africa's leading economic indicator rose 11.5% year-on-year in October from a 16.3% increase recorded in September, according to South African Reserve Bank (Sarb) data released on Wednesday.
The seasonally adjusted leading economic indicator provides a guideline for economic growth for at least six months ahead.
The latest increase takes the indicator to an index level of 129.8 which, on a trend basis, is higher than the 121.8 index level in December 2009.
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Source: FIN24
Bonds remain firm in quiet trade
December 21, 2010-South African bonds were firmer in quiet late trade on Tuesday, on the back of a stronger rand. A local trader said that volumes were thin and many players were away, so the market would remain quiet for the remainder of the week.
By 15:45 the benchmark R157 bond was at 7.390% from its previous close of 7.410%, while the R207 was bid at 8.210% from 8.230% at its previous close. The R186 was bid at 8.375% after closing at 8.400%.
The rand was bid at 6.8055 to the dollar from its previous close of 6.8395.
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Source: FIN24
