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JSE falls slightly as retailers weigh
January 11, 2013--South African stocks ended slightly weaker on Tuesday, snapping a three-day winning streak, with retailers among the worst performers on worries about consumer spending and high personal debt levels.
JD Group fell the most on the bourse after the credit-based furniture retailer warned that it was likely to report profit loss due to bad debts. Its shares fell 6.3% to R25.40.
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Source: FIN24
Rand fails to consolidate data-driven gains
February 11, 2014--The rand strengthened on Tuesday on upbeat economic data, breaching 11 to the dollar, but it could not hold on to the gains.
The rand was trading at R11.0080/$ at 15:36 GMT, 1% firmer than Monday's New York close. It had lost some ground after reaching R10.9700/$ earlier in the session.
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Source: FIN24
JSE extends gains, precious producers shine
February 10, 2014--South African stocks have gained for the third straight session, led by gold and platinum producers as the price of both precious metals cruised higher.
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Source: FIN24
Strikes keep rand on the ropes
February 10, 2014--The rand has recorded one of the steepest losses in a basket of emerging market currencies as investors refocused on strikes and protests bedevilling the economy.
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Source: FIN24
JSE ticks higher but Harmony falls
February 7, 2014--South African stocks added 0.8% on Friday, buoyed by US data that soothed some concerns about the health of the world's top economy, but shares of Harmony Gold fell after a mining accident.
Harmony's shares fell 2.8% to R28.95, after the gold producer stopped all its operations for a 24-hour safety shift following an rock-fall and fire that killed at least eight workers, the worst mining in South Africa in five years.
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Source: FIN24
Rand finds respite on US jobs data
February 7, 2014--The rand touched its strongest level in more than a week against the dollar on Friday as U.S. jobs numbers backed the case to hold off a taper in US monetary stimulus, boosting emerging market currencies.
The rand climbed to R10.9400/$ after the non-farm payrolls report, a level last reached on January 29, before losing some steam to R11.0670/$ by 16:24 GMT, 0.29% off Thursday's close.
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Source: SEC.gov
JSE fizzles after promising start
February 6, 2014--Technically the JSE is oversold and there are indications of bargain hunters being around, but confidence levels are still too low for a decent upside correction to take place.
That seems to be case as another promising start on the JSE this morning, with all the major indices strongly higher, fizzled out by midday today. By midday the market was fluctuating and most of the indices ware only marginally higher.
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Source: FIN24
Rand, government bonds find support
February 6, 2014--The rand firmed against the dollar on Thursday, with dealers seeing a consolidation phase for emerging markets during a pick-up in global risk sentiment.
The rand was up 0.3% on the dollar to R11.0950 at 06:47 GMT, compared with an R11.1300 close in New York on Wednesday.
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Source: FIN24
SA stocks end flat, African Bank plunges
February 5, 2014--South African stocks ended virtually unchanged on Wednesday as investors juggled concerns about the health of the global economy with views that a sharp sell-off in recent days has made some shares look like bargains.
African Bank Investments topped the decliners' list on the exchange as the nation's biggest unsecured loans lender warned of a sharp fall in half profits.
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Source: FIN24
Rand maintains recovery mood
January 5, 2014-The rand held broadly stable within a recent trading range against the dollar early on Wednesday, building on its slight recovery from last week's five-year lows as global risk sentiment improved slightly.
Analysts say the lack of any negative emerging market news is giving developing country assets in countries some breathing space while investors wait for clues later this week about US employment and further tapering from the Federal Reserve.
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Source: FIN24
