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Bonds expecting a quiet day
March 12, 2010--Bonds were virtually unchanged from their overnight levels in early trade on Friday and traders expected "more of the same" for the remainder of the day.
By 08:22 the short-term government R154 bond was bid at 7.120% and offered at 7.100% after closing at 7.115% on Thursday and the medium-term R157 was at 8.250% from 8.245% at its previous close. The long-term R186 was bid at 9.080% and offered at 9.055% from 9.070% previously.
The rand was bid at R7.4163 to the dollar from R7.4057 at its previous close.
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Source: FIN24
JSE boosted by US retail data
March 12, 2010--South African stocks closed firmly in the black on Friday amid far better than expected US retail data.
The Commerce Department said Friday that US retail sales rose by 0.3% in February, with many expecting a decline.
By 17:00 the JSE all share index was up 1.26%, with resources gaining 1.98%, gold miners picked up 2.21% and platinum miners firmed 1.86%. Banks pocketed 1.12%, financials found 0.93% and industrials were up 0.69%
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Source: FIN24
Rand firms on US retail data
March 12, 2010--The rand firmed in the afternoon session on Friday, amid better than expected US retail data.
Retail sales rose last month by 0.3%, counter to the 0.3% decline expected, Dow Jones Newswires reported.
At 16:01 the rand was bid at R7.3566 to the dollar from R7.4057 at its previous close. It was bid at R10.1381 to the euro from its previous close of R10.1515 and was at R11.1566 against the sterling from R11.1682.
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Source: FIN24
Bonds drift weaker
March 5, 2010--Bonds continued to drift weaker in late trade on Friday with little in the way of fresh news to provide direction.
By 16:00 the short-term government R154 bond was bid at 7.065% and offered at 7.045% after closing at 7.040% on Thursday and the medium-term R157 was at 8.170% from 8.155% at its previous close. The long-term R186 was bid at 9.020% and offered at 9.015% from 8.940% previously.
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Source: FIN24
Rand steady amid firming dollar
March 5, 2010--The rand remained well positioned in the afternoon session on Friday amid better than expected non-farm payrolls data in the US which boosted the dollar.
At 15:45 the rand was bid at R7.4272 to the dollar from R7.4755 at its previous close. It was bid at R10.0935 to the euro from its previous close of R10.1470 and was at R11.1638 against the sterling from R11.2208.
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Source: FIN24
JSE lifted by US job data
March 5, 2010--South African stocks ended in the black on Friday tracking US markets which were boosted by better than expected non-farm payrolls data.
By 17:00 the JSE all share index had gained 0.47%, with resources 0.9% firmer, platinum miners added 0.26%, and Gold stocks climbed 0.28% higher. Banks and financials picked up 1.01% and 0.25% respectively, with industrials 0.14% better.
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Source: FIN24
JSE tracks Dow into the red
February 26, 2010--South African stocks ended marginally down on Friday, tracking a softer opening on the Dow with investors focussing on negative elements of a revised GDP figure and consumer spending data in the US, according to a local trader.
By 17:00 the JSE all share index lost 0.12%, but the gold mining index added 1.08%, resources were 0.24% better, and platinum miners gained 2.79%. Banks collected 0.72%, financials rose 0.39%, but industrials dropped 0.36%.
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Source: FIN24
Bonds hold firm
February 26, 2010--Bonds remained firm going into the weekend on Friday, supported by benign money supply and private sector credit extension data and a recovery in the rand.
They also shrugged off a worse than expected trade deficit for January, which came in at R3.3bn as opposed to an expected R2.5bn. Markets tend to ignore the trade data because of its volatility.
By 16:00 the short-term government R154 bond was bid at 7.040% and offered at 7.020% after closing at 7.080% on Thursday and the medium-term R157 was at 8.170% from 8.230% at its previous close. The long-term R186 was bid at 9.050% and offered at 8.975% from 9.070% previously.
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Source: FIN24
Quiet rand tracks euro
Febraury 26, 2010-- A quiet rand tracked the euro in the afternoon session on Friday.
The local currency earlier bounced off R7.68 against a weaker dollar, a local trader noted.
At 15:44 the rand was bid at R7.7188 to the dollar from R7.7323 at its previous close. It was bid at R10.4645 to the euro from its previous close of R10.4558 and was at R11.7099 against the sterling from R11.7636.
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Source: FIN24
RenCap to focus on Africa
February 22, 2010--Renaissance Capital, the Russian investment bank that nearly collapsed during the financial crisis, is launching an operation in Johannesburg as it looks to leverage a pan-African franchise to build one of the world’s leading emerging markets banks.
RenCap will announce on Monday that it has hired Clifford Sacks, a former senior banker at Merrill Lynch, to head up its South African office as it continues to expand amid the nascent economic recovery.
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Source: FT.com
