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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
Commodities shore up JSE
December 21, 2010-- The JSE closed firmly in positive territory on Tuesday, as robust commodity prices provided support, lifting resources and platinum counters. This performance mirrored that of global equities, which were broadly firmer.
Local gold stocks came under pressure as there was no risk-aversion, with tensions on the Korean peninsula beginning to cool, Kevin Algeo, portfolio manager at Imara SP Reid, said.
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Source: FIN24
Bonds steady on firm rand
December 20, 2010--South African bonds were firm in quiet late trade on Monday, on the back of a firmer local currency. This week is expected to be quiet, as many players are away for the summer holidays.
By 15:45 the benchmark R157 bond was at 7.420% from its previous close of 7.430%, while the R207 was bid at 8.245% from 8.250% at its previous close. The R186 was bid at 8.415% after closing at 8.425%.
The rand was bid at 6.8862 to the dollar from its previous close of 6.8250.
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Source: FIN24
Miners, European gains boost JSE
December 20, 2010--- The JSE ended firmer in quiet trade on Monday, led higher by mining counters, especially platinum stocks.
The local market also got a boost from positive European equities, Andrew Todd, equity derivatives trader at Imara SP Reid, said.
At 17:00, the JSE all share index was 0.32% higher, with platinum stocks jumping 2.28%, gold miners rising 0.78% and resources adding 0.62%.
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Source: FIN24
Shorter dated bonds stay tad firmer
December 17, 2010--South African shorter dated bonds remained slightly firmer in late trade on Friday, with little in the way of news to give the market any significant direction.
By 15:45 the benchmark R157 bond was at 7.430% from its previous close of 7.440%, while the R207 was bid at 8.265% from 8.260% at its previous close. The R186 was bid at 8.440% after closing at 8.435%.
The rand was bid at 6.8342 to the dollar from its previous close of 6.8238.
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Source: FIN24
JSE slightly lower as gold weighs
December 17, 2010-- The JSE ended slightly weaker on Friday, with gold stocks weighing heavily on the overall domestic stock exchange. The gold index plunged 4% following a drop in the price of yellow metal.
Gold stocks have had a hard run in the past couple of days, according to Andrew Todd, an equity derivatives trader at Imara SP Reid.
At 17:00, the JSE all share index was 0.23% lower, with gold miners slumping 4.00%, platinum stocks falling 0.49% and resources down 0.61%. Banks fell by a slight 0.15%, while both financials (-0.05%) and industrials (0.06%) hardly moved.
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Source: FIN24
