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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 $285bn economy, a much smaller population and tepid growth of about 3%, South Africa pales in comparison to the other Bric states: Brazil, Russia, India and China.
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Source: FIN24
Rand stays firm and scales new high
December 28, 2010- The rand advanced to a new three-year high against a broadly weaker dollar on Tuesday and was also boosted by higher metal prices.
The rand traded at R6.6750/$ 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
