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Mining shares lead JSE weaker
June 22, 2012--The JSE finished weaker for the second straight session on Friday, with commodity shares hard hit, amid global economic growth concerns.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 1.20% to 34 188.87 points‚ with resources sliding 2.81%‚ gold shares dropping 3.76% and platinum counters tumbling 3.81%.
Financials were flat (-0.04%)‚ banking stocks inched up 0.14% and industrials lost 1.02%.
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Source: FIN24
Bonds remain weak on rand
June 22, 2012--Although off the morning's worst levels, South African bonds remained soft in noon trade on Friday on the back of a weaker rand.
At 11:50‚ the benchmark R157 bond was trading at 6.055% from Thursday’s close of 6.030% and Wednesday’s close of 5.960%. The R207 was bid at 7.250% and offered at 7.235% from a previous close of 7.250% and the R186 was trading at 8.070% from its previous close of 8.030%.
The rand was bid at R8.3830 against the dollar from Thursday’s close of R8.3794 and Wednesday’s close of R8.1984.
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Source: FIN24
Rand taking a breather in quiet trade
June 22, 2012--The rand was pretty quiet at noon on Friday, trading at similar levels to Thursday's close, with market participants awaiting news from a meeting of leaders from Germany,
Italy‚ France and Spain later on Friday. This EU4 meeting will be followed by next week’s European summit‚ which might deliver positive results towards dealing with the eurozone debt debacle.
“The rand is treading water and taking a breather after big moves in the market yesterday‚” said Warrick Butler‚ rand trader at Standard Bank.
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Source: FIN24
JSE remains weaker on profit taking
June 21, 2012--The JSE remained softer at noon on Thursday amid some profit taking, and ahead of today's futures closeout, which usually brings with it volatility in share prices, and a spike in trading volumes.
Closeouts are the dates when futures contracts are settled‚ with players placing their bets on the market's future direction.
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Source: FIN24
Rand tracks euro weaker
June 21, 2012--The rand kept a softer bias in afternoon trade on Thursday, tracking the euro/US dollar movement, as attention switched back to Spain's fiscal woes after the US Federal Reserve's statement.
At 15:58 the rand was bid at R8.2667 to the dollar from Wednesday’s close of R8.1984. It was bid at R10.4300 to the euro from its previous close of R10.4102 and at R12.9341 against sterling from R12.8877 before. The euro was bid at $1.2627 from Wednesdays’s close of $1.2691.
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Source: FIN24
JSE a tad higher in choppy trade
June 20, 2012--The JSE ended marginally higher on Wednesday, pushing the all-share index to a new closing high, albeit in a choppy session.
The local bourse‚ along with its global peers‚ traded in a narrow range throughout the day as it awaited some action from the US Federal Reserve to boost faltering global economic growth.
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Source: FIN24
Rand holds steady, awaits Fed statement
June 20, 2012--The rand held steady in afternoon trade on Wednesday, with all eyes on the US Federal Reserve.
At 15:48 the rand was bid at R8.2092 to the dollar from Tuesday’s close of R8.1944. It was bid at R10.4248 to the euro from its previous close of R10.3940 and at R12.9227 against sterling from R12.8817 before. The euro was bid at $1.2698 from Tuesday’s close of $1.2686.
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Source: FIN24
JSE flat amid consolidation
June 19, 2012--The JSE flipped between positive and negative territory at noon on Tuesday amid some consolidation following the previous day's rally, which pushed the all-share index to near record levels.
At 12:06 local time‚ the JSE All Share [JSE:J203] index was down 0.04% to 34 423.37 points‚ with gold shares lifting 1.32%‚ while resources were down 0.15% and platinum counters lost 1.40%.
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Source: FIN24
Bonds firm on risk-on trade
June 19, 2012--South African bonds were firm in afternoon trade on Tuesday as investors moved back to "risk-on" trades that benefited emerging market bonds and currencies.
“Overseas investors have moved back to risk-on trading strategies‚ so we have gained with the R157 back at a record low yield as the front end remain well bid‚” a local trader said.
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Source: FIN24
Rand tests 8.20/$ on risk appetite
June 19, 2012--The rand gathered further strength against major currencies in afternoon trade on Tuesday, boosted by an increase in risk appetite.
“We consider the current rand/dollar movement‚ in particular‚ as the continuation of a recovery given that the local currency has come under a considerable amount of pressure over the last while due to heightened risk aversion associated with the eurozone problems‚” said Mike Keenan‚ sub-Saharan currency strategist at Absa Capital.
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Source: FIN24
