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Bonds still mixed in quiet trade
December 7, 2010--South African longer-dated bonds were weaker in quiet late trade on Tuesday, on the back of a softer local currency, while the shorter end of the market remained slightly firmer after a relatively well-bid auction, earlier in the day.
By 15:45 the benchmark R157 bond was at 7.330% from its previous close of 7.335%, while the R207 was bid at 8.165% and offered at 8.135% from 8.145% at its previous close. The R186 was bid at 8.390% and offered at 8.340% after closing at 8.355%.
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Source: FIN24
Profit-taking trims gains on JSE
November 7, 2010--- The JSE trimmed some gains on Tuesday, ending slightly higher as profit taking set in following a strong run in the past few days. By contrast, global equities rose strongly.
Andrew Todd, equity derivatives trader at Imara SP Reid, the market had rallied around 1 700 points or 5.6% over the past five days. "This is why the market is coming off. It is not surprising to see money being taken off the table," Todd said.
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Source: FIN24
Quiet day as bonds go untraded
December 6, 2010-- South African bonds were untraded in quiet early trade on Monday, with no fresh news to give the market direction.
By 08:45 the benchmark R157 bond was at 7.325% from its previous close of 7.320%, while the R207 was bid at 8.135% and offered at 8.105% from 8.125% at its previous close. The R186 was bid at 8.335% and offered at 8.305% after closing at 8.320%.
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Source: FIN24
JSE rises as dollar lags
December 6, 2010--The JSE started well in morning trade on Monday amid a weaker US dollar, while commodity prices continued to surge with gold trading near record highs, while oil and platinum prices also boosted the local bourse according to a local dealer.
By 09:12 local time the JSE all share index added 0.47%, led by gold miners, 1.5% firmer with platinum miners rising 0.41%, and resources gained 0.89%. Banks improved 0.47%, financials added 0.12%, and industrials picked up 0.19%.
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Source: FIN24
Rand holds firm as it eyes euro
December 6, 2010--The rand remained strong in early trade on Monday, remaining below the R6.90 per dollar level as the euro, although off its best levels, remained firm against the US dollar.
At 08:32 local time the rand was bid at R6.8413 from R6.8475 at its previous close. It was bid at R9.1573 to the euro from R9.1970 before and at R10.7857 against sterling from R10.7951 at its previous close.
The euro was bid at $1.3363 from $1.3413.
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Source: FIN24
Euro plunges ahead of eurozone meeting
December 6, 2010--The euro slumped against the dollar Monday on concerns that the Irish debt crisis will spread, amid a bond rating downgrade for Hungary, as eurozone finance ministers braced for a crucial gathering.
In morning trade, the European single currency nosedived to $1.3277 from $1.3415 in New York late on Friday.
Against the Japanese currency, the dollar rose to ¥82.71 from ¥82.58 yen on Friday.
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Source: FIN24
SA to subsidise green energy
December 6, 2010--South Africa will start a much-delayed plan to buy electricity from green energy plants next year under a new subsidies programme to help boost private investment in renewable power, a senior official said on Monday.
South Africa is struggling to meet fast rising demand for power. State-owned utility Eskom said supply would remain tight until 2015, and especially over the next two years, until its two new power plants come on stream.
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Source: FIN24
Bonds firm ahead of weekend
December 3, 2010--South African bonds were up to 8 basis points firmer in late trade on Friday on the back of a strong rand and weaker-than-expected US non-farm payroll data.
By 15:55 the benchmark R157 bond was at 7.320% from its previous close of 7.400%, while the R207 was bid at 8.145% and offered at 8.115% from 8.220% at its previous close. The R186 was bid at 8.335% and offered at 8.305% after closing at 8.390%.
The rand was bid at 6.8896 to the dollar from its previous close of 6.9006.
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Source: FIN24
Commodity prices lift JSE
December 3, 2010-The JSE ended in the black on Friday, boosted by stronger commodity prices which firmed as the dollar weakened after non-farm payroll figures in the US came in worse than expected
At 17:00, the JSE all share index was up 0.74%, with platinum miners surging 2%, and gold miners adding 1.09%. Resources gained 1.04%, while industrials added 0.67%. Banks were 0.49% higher, and financials rose 0.28%.
The rand was bid at 6.87 to the dollar from 6.96 at the JSE's close on Thursday. Gold was quoted at US$1 403.12 a troy ounce from US$1 388.95/oz at the JSE's previous close, while platinum was at $1 722/oz from $1 710/oz before.
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Source: FIN24
Bonds weaker on US data
December 2, 2010--South African bonds were weaker in late trade on Thursday on the back of worse than expected US Jobless Claims data.
Initial unemployment claims climbed by 26 000 to 436 000 in the week ended November 27, the US Labour Department said Thursday in its weekly report.
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Source: FIN24
