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JSE ends lower on risk aversion
November 10, 2010--- The JSE tracked global stocks and closed in the red on Wednesday on the back of dollar strength and risk aversion, a local trader said.
At the close the JSE all share index had fallen by 0.46%, with platinum losing 1.38% and resources weakening 1.36%. Banks shed 0.82% while gold was down 0.61%. Financials were down 0.16%. Industrials bucked the trend and gained 0.31%.
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Source: FIN24
Longer dated bonds weaker
November 9, 2010-- South African longer dated bonds were weaker in late trade on Tuesday. A local trader said that the longer end of the market was under pressure following a poor auction earlier in the day.
By 15:30 the benchmark R157 bond was at 6.940%, from its close of 6.950% on Monday, while the R207 was at 7.780% from 7.735% at its previous close. The R186 was at 7.990% after closing at 7.970%.
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Source: FIN24
Record high gold price drives JSE
November 9, 2010-- The JSE finished strongly on Tuesday, with gold stocks being the driving force behind the rally. As of 16:29 the JSE had added 280.40 points to Tuesday's closing with all the indicators finishing in positive territory.
At the close the JSE all share index had increased by 0.87%, with gold leading the strong showing, rising by 3.55%, platinum also showing strong gains at 2.63% and resources firming 1.69%. Industrials gained 0.21%, banks added 0.67% and financials were up 0.56%.
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Source: FIN24
Bonds follow rand weaker
November 8, 2010-South African bonds were up to 4 basis points weaker in late trade on Monday, on the back of a softer rand.
By 15:50 the benchmark R157 bond was at 6.950% from 6.905 at its close on Friday, while the R207 was bid at 7.740% and offered at 7.710% from 7.680% at its previous close. The R186 was bid at 7.975% and offered at 7.945% after closing at 7.915%.
The rand was bid at 6.8499 to the dollar from its previous close of 6.7726.
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Source: FIN24
JSE remains in red on profit taking
November 8, 2010-- The JSE pulled back strongly off its weaker levels on Monday, but remained in the red on profit taking and risk aversion. A raft of local company reports failed to lift the spirits of investors earlier in the day, but the successful listing of Royal Bafokeng Platinum was seen as a positive. A local dealer feels buyers will be back.
The JSE ended on a strong note on Friday, adding 129 points, as rallying gold stocks and better than expected US jobs data bode well for the local bourse but opened down almost 200 points on Monday
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Source: FIN24
Shorter dated bonds weaker
November 4, 2010-- South African shorter-dated bonds were weaker in late trade on Friday, which a trader attributed to players squaring off their positions ahead of the weekend.
By 15:30 the benchmark R157 bond was at 6.910% from 6.890 at its close on Thursday, while the R207 was bid at 7.695% and offered at 7.665% from 7.685% at its previous close. The R186 was bid at 7.000% and offered at 7.885% after closing at 7.905%
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Source: FIN24
JSE firmer on gold, US jobs data
November 5, 2010-- The JSE ended on a strong note on Friday, as rallying gold stocks and better than expected US jobs data bode well for the local bourse.
Even though general mining counters were firmer, gold "outperformed considerably", a dealer said. Gold price hit a new all-time high of US$1 398.20 an ounce on Friday.
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Source: FIN24
World Bank funding for SA green energy
November 5, 2010--The World Bank's Clean Technology Fund plans to invest $85m in renewable energy and co-generation projects in South Africa, according to an advertisement in the Business Day newspaper on Friday.
The fund said it had $50m available for wind and solar renewable energy projects and $35m for co-generation, where waste energy and gases are used to produce power.
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Source: FIN24
SA reserves jump higher
November 5, 2010--South Africa's net reserves rose in October, official data showed on Friday, pointing to heightened efforts by the Reserve Bank to intervene in the market and try and curb gains in the rand.
The rand has gained nearly 30% against the dollar since the beginning of last year as foreign investors buy emerging market assets offering higher yields than those in developed countries.
Net gold and foreign exchange reserves stood at at $43.112bn at the end of October from $40.854bn in September, the South African Reserve Bank said in a statement posted on its website on Friday.
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Source: FIN24
Bonds perky on rand
November 4, 2010-- South African bonds were up to 7 basis points firmer in late trade on Thursday, as they continued to track a stronger local currency.
Markets worldwide are being supported by the widely expected decision by the US Federal Reserve that it is to engage in a second round of asset purchases (QE2).
By 15:50 the benchmark R157 bond was at 6.900% from 6.970 at its close on Wednesday, while the R207 was bid at 7.700% and offered at 7.670% from 7.755% at its previous close. The R186 was bid at 7.935% and offered at 7.890% after closing at 7.935%
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Source: FIN24