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JSE softer on global sentiment
April 18, 2013--The JSE followed world markets lower on Monday due to negative sentiment after a Cyprus bank bailout proposal that included an unexpected levy on bank account deposits.
The bailout proposal led to renewed fears that the eurozone debt crisis could deepen.
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Source: FIN24
Rand weaker but off worst levels
March 18, 2013--The rand has been weaker, but off the session's worst levels' as global risk sentiment regarding the Cyprus bailout deal
improved‚ boosting euro/dollar crosses.
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Source: FIN24
Bonds off worst level
March 18, 2013--The bond market has been off its worst level, as the rand recovered some of its losses after it
weakened following a bank bailout deal in Cyprus.
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Source: FIN24
JSE ends down despite miner gains
March 15, 2013--Despite miners making gains on the JSE on Friday, the all share index ended in negative territory, with platinums the main gainers and banks the laggards.
At 17:00‚ the JSE All Share [JSE:J203] index closed 0.37% softer at 40 757.94 points‚ with the top 40 index giving back 0.40%.
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Source: FIN24
Rand weakens on domestic factors
March 15, 2013--The rand slipped in late trade on Friday as lingering domestic factors overshadowed euro/dollar strength.
At 15:58 the rand was bid at R9.1971/$ from R9.1629/$ at Thursday’s close and R9.2549/$ at Wednesday’s close
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Source: FIN24
JSE closes flat, off all time high
March 14, 2013--The JSE closed flat, off its earlier all time high, with strength from banks and financials countering some softness in the mining and resources sectors.
At 17:00‚ the JSE All Share [JSE:J203] index ticked up 0.08% to 40 908.58 points‚ with the gold‚ resources and platinum indices dipping 1.63%‚ 0.30% and 0.24% respectively.
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Source: FIN24
Rand remains on back foot
March 14, 2013--The rand remained under pressure at midday on Thursday as a negative outlook and a stronger dollar weighed on investor sentiment.
The domestic currency fell to an intraday low of R9.2922/$ at mid-morning before recovering slightly.
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Source: FIN24
S&P: Nigeria's Economic Growth Will Spur Banks Expansion
March 14, 2013--Standard & Poor's (S &P), American-based financial services company has said that the political stability and economic growth recorded by Nigeria will spur expansion in the country's banking industry this year.
Bloomberg quoted S&P analysts, led by Matthew Pirnie in Johannesburg to have said in a report yesterday that: “Nigerian banks have good prospects in 2013 thanks to strong economic growth and currently broad political stability.”
The firm added: “We believe the banks will enter an expansionary phase in 2013, spurred by increasing competition and relatively clean balance sheets.”
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Source: This Day Live
JSE sheds value on weaker rand
March 13, 2013--The JSE was dragged down on Wednesday by a struggling rand as ongoing mining strikes, weaker than expected retail sales numbers and negative local current account issues weighed.
Gold counters provided some upside as they benefited from the weaker rand. Gold is seen as a safe haven investment.
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Source: FIN24
Bonds softer on mine strike jitters
March 13, 2013--The South African bond market was softer in midday trade on Wednesday on the back of foreign investor jitters about continuing mine strikes.
Anglo American confirmed this morning that production had resumed at the Kleinkopje coal mine after an illegal walk-out by workers stopped production on Tuesday morning.
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Source: FIN24
