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Flat JSE digests China rate move
February 8, 2011-- The JSE ended flat on Tuesday,failing to keep earlier gains as investors reacted negatively to plans of another interest rate hike in China.
Wall Street and Asian stock exchanges had yet to digest the latest round of Chinese monetary tightening, a portfolio manager said.
At its close, the JSE all share index was unchanged, with gold counters rising 0.89% and platinum miners gaining 0.93%. But resources fell 0.16%
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Source: FIN24
Bonds firmer in quiet trade
February 7, 2011--South African bond yields were firmer in quiet late trade on Monday on the back of local and foreign investor interest.
By 15:30, the benchmark R157 bond was trading at 7.850% from its previous close of 7.910%, while the R207 was trading at 8.550% from its previous close of 8.585%. The R186 was bid at 8.685% from 8.690%.
The rand was bid at 7.2616 to the dollar from its previous close of 7.2351.
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Source: FIN24
Profit-taking sinks JSE
February 7, 2011--The JSE gave up the day's gains and ended weaker on Monday as local investors brushed aside a flurry of bullish corporate activities in the US and banked profits instead.
The local market was under pressure on the back of profit-taking, Kevin Algeo, portfolio manager at Imara SP Reid, said. If one excluded Anglo American [JSE:AGL], BHP Billiton [JSE:BIL] and Richemont [JSE:CFR], the rest of the stocks looked softer, Algeo said.
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Source: FIN24
Bonds mostly weaker on rand
February 4, 2011--South African bonds were mostly weaker in late trade on Friday on the back of a softer local currency. The longer-dated R186 was slightly firm on local buying interest.
By 15:50, the benchmark R157 bond was trading at 7.930% from its previous close of 7.885%, while the R207 was trading at 8.640% from its previous close of 8.580%. The R186 was trading at 8.690% from 8.700%.
The rand was bid at 7.2713 to the dollar from its previous close of 7.2355.
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Source: FIN24
JSE saved by gold after US data
February 4, 2011-- The JSE ended with its nose in the black on Friday, buoyed by commodity stocks but hampered in the afternoon session by conflicting jobs data out of the US, which pulled Wall Street lower.
At its close, the JSE all share index gained 0.33%, boosted by gold counters, which advanced 2.63%. Resources added 1.41%, but platinum mining indexes slipped 0.06%.
Industrials declined 0.50%, banks dropped 0.92% and financials lost 0.29%.
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Source: FIN24
JSE ends up, lifted by resources
February 3, 2011--The JSE ended in the black on Thursday amid a continuing rally in commodity prices and as markets put less attention on geopolitical tensions in Egypt and some Arab states.
The JSE all share index was up 0.95%, with resources rising 1.35%.
Industrials advanced 0.91%, as platinum miners climbed 0.78% and banks collecting 0.52%. Financials closed 0.13% higher, but gold miners gave up 0.17%.
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Source: FIN24
Risk aversion weighs rand down
February 3, 2011--The rand fell more than 1% to five-month lows against the dollar on Thursday, partly weighed down by reduced investor appetite for emerging market assets in the face of political strife in Egypt.
At 18:40, the unit was trading at R7.29/$ after closing at R7.1573/$ previously. It was largely tracking the euro , bid at $1.3700 from $1.3815 before.
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Source: FIN24
Johannesburg Stock Exchange’s New Trading Platform To Offer Faster Trading Capabilities
February 3, 2011--Today the Johannesburg Stock Exchange (JSE) announced that it has concluded a licensing agreement with technology solutions provider MillenniumIT to move its equity market trading activity onto Millennium Exchange™. The migration is planned for the first half of 2012 and it is expected that JSE members will benefit from executing transactions almost 400 times faster than the present trading solution.
The agreement will also see the JSE’s trading system relocated from London to Johannesburg, enhancing operational efficiencies and ensuring trading optimisation for market participants.
Leanne Parsons, JSE Chief Operating Officer and Head of the Equity Market comments on the agreement: “We are excited about working with MillenniumIT and providing benefits to our market using their technology solutions”.
Parsons is confident that the adoption of the new trading system will increase the equity volumes traded on the JSE and therefore liquidity: “In our experience, whenever we take a step forward with our trading technology, trading volumes also follow. If we want to remain a world-class and relevant exchange in a highly competitive industry, we must remain abreast of technological advances.”
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Source: Mondovisione
JSE rallies as risk aversion subsides
February 2, 2011-The JSE rallied over 2% on Wednesday as commodity prices rose and global markets firmed amid an easing in geopolitical tensions after Egyptian President Hosni Mubarak indicated he would stand down in September.
The JSE all share index surged 2.04%, with a 2.93% rise in resources spearheading the rally. Platinum miners were up 2.51% and gold miners 2.05%.
Industrials advanced 1.78%, banks collected 1.15% and financials closed down 0.66% higher.
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Source: FIN24
Rand set to weaken further: poll
February 2, 2011--The rand is seen weaker against the dollar 12 months from now as yield spreads with developed markets narrow, causing investors to quit riskier emerging markets, a Reuters poll showed on Wednesday.
Median forecasts were for the currency to end-February at R7.05/$ per dollar, then to stay flat at R7.06/$ by end-April. The rand, currently at R7.14/$, will weaken to R7.23/$ six months from now, and R7.30/$ in 12 months.
