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Rand softer on weaker euro
January 9, 2013--The rand tracked the euro a fraction weaker at noon on Wednesday in a very quiet market as a number of participants are still on holiday.
“We are trading in a tight range with a number of people still away on leave. The market is waiting to hear if farm strikes will start again in earnest‚ which would be bad for the rand. If the strike is sorted out‚ it will be good for the rand” said Mark Kalkwarf‚ currency dealer at the Iquad Group.
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Source: FIN24
JSE flat, lacks fresh impetus
January 8, 2013--The South African share market hovered in flat territory on Tuesday in the absence of fresh impetus, while Anglo American (AGL) shares rallied to six-month highs after the blue-chip resources company announced the appointment of Mark Cutifani as its new chief executive.
At 12:31‚ the All Share [JSE:J203] index was flat (0.03%) at 40 173.46 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also flat at 35 642.39. Gold stocks shed 1.76% for a 3.35% loss this month on negative investor sentiment after Harmony Gold Mining suspended production at its Kusasalethu mine due to labour unrest.
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Source: FIN24
Rand weakens on thin trade, eyes MPC
January 8, 2013-- The rand weakened against the US dollar before noon on Tuesday as traders eye the Reserve Bank's monetary policy committee (MPC) meeting later this month for direction.
“Since the beginning of the year the rand has been trading within a very wide range‚ but volumes are extremely thin. Traders are eyeing the MPC meeting later this month‚” said Ockert van Niekerk‚ head of trading at PSG.
At 11:35‚ the rand was bid at R8.5788/$ from its previous close of R8.5648 on Monday.
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Source: FIN24
JSE snaps new year rally
January 7, 2013--The JSE ended slightly in the red on Monday for the first time in the new year, as investors booked profits following last week's rally.
At 17:00‚ the All Share [JSE:J203] index was 0.28% softer at 40 162.56 points‚ with the Top 40 - (Tradeable) [JSE:J200] index dipping 0.38% to 35 641.67.
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Source: FIN24
Nigerian banking stocks soar
January 7, 2013--The index of Nigeria's Top-10 banks closed up 4.7% on Monday, a significant gain for a sector which analysts expect to drive a stock market rally again this year.
Nigerian stocks rose to a 32-month high last Monday, ending 2012 up 34% in the index's best performance over the last five years, led by growth in consumer goods and banking.
The banking index gained 24% last year, but it trailed the consumer goods sector which rose 42%.
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Source: FIN24
Bonds firmer on US Treasuries rally
January 7, 2013--The South African bond market was firmer in quiet midday trade on Monday‚ on a rally in US Treasuries following last week's sell-off.
A local trader said on Monday: “We are firmer on the back of the bounce in US Treasuries‚ but volumes remain thin.”
At 12:02, the benchmark R186 was trading at 7.300% from Friday’s close of 7.365% and Thursday’s close of 7.295%.
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Source: FIN24
JSE down on continued consolidation
January 4, 2013--The JSE weakened at noon on Friday as it continued to consolidate after hitting record highs on Wednesday and Thursday.
“The markets are still experiencing some post-Christmas trade. We started the year on a high and we have hit a record high in both of the sessions so far this year‚” said Ockert van Niekerk‚ head of trading at PSG.
At 12:02pm‚ the All Share [JSE:J203] index was 0.12% lower at 40‚196.49 points as gold miners lost 2.45% in value.
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Source: FIN24
Bonds softer on weaker rand
January 4, 2013--The South African bond market was softer in quiet midday trade on Friday on a weaker rand.
Traders said volumes were thin as the market waited for the December US non-farm payroll data due at 3.30pm local time.
“We followed the rand weaker‚ but trading is subdued as we wait for the US jobs data‚” a local bond trader said.
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Source: FIN24
Rand weakens on softer euro
January 4, 2013--The rand tracked the euro weaker against the US dollar before noon on Friday as thin trading volumes continued to weigh.
“We are seeing some dollar strength today as continued importer action weakens the local currency‚” said Ockert van Niekerk‚ head of trading at PSG.
At 11:21am‚ the rand was bid at R8.6439 to the US dollar from its previous close of R8.5878 on Thursday. The local currency was bid at R11.2349 to the euro from its previous close of R11.1809 and at R13.8756 against sterling from R13.7981 before.
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Source: FIN24
Nigeria May Join Global Economic Powers in 2030 -U.S.
January 3, 2013--Nigeria could join a handful of countries including China that would be pivotal in shaping the world's economy by the year 2030 according to a report by the super secret United States National Intelligence Council, NIC.
The NIC report just released, projects an idea of what the world would look like in the future.
The report which is an articulation of expertise opinion from the US intelligence community released last December, however, admits that it may not be exact.
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Source: Allafrica.com
