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Bonds perk up as rand gains
January 29, 2010--Bonds had perked up a little by the end of the week on improved sentiment after the week's key rates meeting and as the rand showed a little mettle.
By 16:00 the short-term government R154 bond was bid at 7.230% after closing at 7.280% on Thursday and the medium-term R157 was yielding 8.370% after closing at 8.430% previously. The long-term R186 was bid at 9.185% from 9.175%.
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Source: FIN24
Rand a tad firmer on US GDP
January 29, 2010--The rand firmed a fraction in the afternoon session on Friday amid a US GDP figure which came in well above market expectations.
At 15:59 the rand was bid at R7.5497 to the dollar from R7.6006 at its previous close. It was bid at R10.5463 to the euro from its previous close of R10.6042 and was at R12.1221 against the sterling from R12.2515.
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Source: FIN24
Nationalisation talks knock JSE
January 26, 2010--Johannesburg - South African stocks ended firmly in the red on Tuesday tracking global sentiment, and on the back of local political calls for the ANC to discuss nationalising the Reserve Bank.
Commodity prices are also weaker, while The South African Reserve Bank's (Sarb's) Monetary Policy Committee (MPC) on Tuesday decided to keep the repo rate unchanged at 7.0%, thereby having very little impact on the local bourse.
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Sourec: FIN24
JSE dragged down by world stocks
January 22, 2010--South African stocks ended firmly in the red on Friday largely in line with weaker international markets.
President Barack Obama's proposal to limit size of banks and risks they can take, news of more policy tightening from China, and Greece's fiscal position all weighed on the local bourse.
By 17:00 the JSE all share index had dropped 1.55%, with resources down 1.49%, gold miners off 1.44% and platinum miners 2.12% weaker. Banks declined 2.28%, financials were off 1.87% and industrials moved 1.45% lower.
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Source: FIN 24
Rand tracks weaker dollar
January 22, 2010--The rand eased in the afternoon session on Friday tracking a softer US dollar which continued to react to President Barak Obama's proposed banking reforms.
At 15:39 the rand was bid at R7.6011 to the dollar from R7.5653 at its previous close. It was bid at R10.7469 to the euro from its previous close of R10.6661 and was at R12.2412 against the sterling from R12.2483.
The euro was bid at $1.4134 from $1.4098 previously.
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Source: FIN24
Bonds weaken a tad on rand
January 22, 2010--Bonds weakened a little during the afternoon session on Friday after the rand gave back a fair amount of ground.
By 15:55 the short-term government R154 bond was bid at 7.465% after closing at 7.370% on Thursday and the medium-term R157 was yielding 8.530% after closing at 8.520% previously. The long-term R186 was at 9.250% from 9.205% before.
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Source: FIN24
Citadel Capital to invest $400m in East Africa
January 17, 2010--Egyptian investment firm, Citadel Capital, has revealed plans to invest up to $400m over the next two years in Kenya, Uganda and Tanzania.
'East Africa's appealing natural competitive advantages - including fast-growing consumer markets and large workforces - fit perfectly with our time-proven strategy of turning national players into regional champions,' Citadel's Chairman and founder, Ahmed Heikal said.
Source: AME Info
Bonds firm after well-bid auction
January 15, 2010-- South African bonds were firmer in thin trade late Friday afternoon which traders attributed to a reasonably well-bid government inflation-linked bond auction and a relatively stable rand
The local market also received some support from US Treasurys which remained higher after the day's first round of data, which showed just a modest rise in consumer prices in December. Data also showed conditions for New York manufacturers improved sharply, though that was expected. 2-yr up 1/32 to 0.90%, 10-yr up 7/32 to 3.71% and 30-yr at 4.61%.
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Source: FIN24
US data holds back JSE
January 15, 2010--Better than expected manufacturing data in the US came out to late to prevent South African stocks from ending in the red on Friday.
Manufacturing activity in the New York area, which improved more than expected, did however lift stocks somewhat about an hour before close however, resources and gold miners kept the local bourse firmly in the red.
At 17:00 the JSE all share index had shed 76%, led by resources down 1.35%, and gold miners dropped 2.55%. Platinum miners shed 1.75%.
Banks were flat, up 0.15%, but financials subsided 0.34%, and industrials declined 0.29%.
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Source: FIN 24
More volatility expected on JSE
January 8, 2010--The local bourse traded in the black for four sessions this week, hitting territory uncharted in nearly 17 months. Some traders expected volatile trading next week with more volumes coming through as more traders returned from holidays.
The Johannesburg Top-40 index gained 0.91 percent to 25 586.73 points and the broader All-Share index added 0.89 percent to 28 266.54 points.
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Source: FIN 24
