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Bonds firm despite July R57.5bn deficit
August 30, 2012--South African bonds were firm in afternoon trade on Thursday despite a weaker rand and a R57.5bn July fiscal deficit.
“We have been trading firmer on foreign buy orders the whole day. The rand has not been a factor‚ while the fiscal deficit is volatile on a monthly basis‚ so what is important is the trend and that remains on track‚” a local bond trader said.
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Source: FIN24
Rand weaker, awaits Bernanke
August 30, 2012--The rand was weaker in late trade on Thursday, albeit off its intraday low, on the back of a Chinese economical slowdown and due to SA's own internal mining problems.
“The rand touched R8.48 around lunchtime today but has come back a bit. All commodity currencies are weaker today due to a Chinese slowdown. Locally we are still dealing with labour problems in the mining sector and the bad press overseas is not rand positive. The rand has weakened steadily over the last week. Markets are on hold until Federal Reserve Chairman
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Source: FIN24
JSE pares losses to end almost flat
August 29, 2012--The JSE share market pared early losses to finish relatively flat on Wednesday.
Resource shares in the main came under selling pressure amid diminished prospects of stimulus measures from the US Federal Reserve following the upward revision of growth in the US economy in the second quarter‚ said Rob Towell‚ senior equities trader at Consilium Securities.
US GDP grew 1.7% in the second quarter over the previous quarter‚ up from an original reading of 1.5%.
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Source: FIN24
Bonds firm on offshore interest
August 29, 2012--South African bonds were firm in afternoon trade on Wednesday on the back of offshore interest, but traders said volumes were light.
"There was no local data due today so the foreign buying moved the market‚ but basically the market is waiting until Friday’s Jackson Hole conference‚” a local bond trader said.
At 15:50‚ the benchmark R157 bond was trading at 5.510% from 5.540% at Tuesday’s close. The R207 was trading at 6.630% from Tuesday’s close of 6.640%‚ and the R186 was trading at 7.520% from 7.545%.
The rand was bid at R8.3904 per dollar from R8.3937 at Tuesday’s close.
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Source: FIN24
Bonds weak ahead of Tuesday's GDP data
August 27, 2012--South African bonds were weak in thin afternoon trade on Monday ahead of Tuesday's gross domestic product (GDP) data release. Monday was a bank holiday in the UK.
"It was a very dull day with London out of the market. In addition‚ few players wanted to take a large position ahead of tomorrow’s GDP release‚” a local bond trader said.
At 15:36‚ the benchmark R157 bond was trading at 5.590% from 5.560% at Friday’s close. The R207 was bid at 6.680% and offered at 6.655% from 6.655%‚ and the R186 was trading at 7.580% from 7.555%.
The rand was trading at R8.3941 per dollar from R8.3520 at Friday’s close.
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Source: FIN24
Yields on bonds supported, rand weak
August 24, 2012--South African government bonds firmed on Friday as offshore demand, soft inflation and weak growth prospects combined to rally yields this week, but a weak rand that looks set for further falls is applying pressure.
Dealers said the next couple of weeks look favourable for the paper ahead of the next central bank policy-setting meeting as well as the inclusion of South African bonds into a prominent world government bond index on October 1.
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Source: FIN24
Stimulus hopes buoy JSE, global markets
August 23, 2012--The JSE share market remained on the front foot at noon on Wednesday, as were leading global equities, after the latest signals of additional monetary easing from the US Federal Reserve added to market buoyancy.
Mining shares led the upside‚ benefiting from the rise in commodity prices as the US dollar weakened against major currencies.
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Source: FIN24
Rand softer on China PMI data
August 23, 2012--The rand remained relatively weaker in late trade, in line with commodity-linked currencies after weak preliminary Chinese PMI data.
At 16:06 local time the rand was trading at R8.2928 to the dollar from its previous close of R8.2261. It was trading at R10.3958 to the euro from its previous close of R10.3048 and at R13.1506 against sterling from R13.0524 before.
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NewGold Exchange Traded Fund makes debut on Ghana Bourse South African group Absa Capital took the decision to list its gold-backed ETFs on the Ghana Exchange after the primary listing in South Africa and other listings on bourses in Nigeria and Botswana. read more
Platinum Prices Climb Amid Unrest read more
Source: FIN24
August 22, 2012-- Ghanaian investors can now buy and sell the NewGold Exchange Traded Funds after it was officially listed on the Ghana Stock Exchange on Wednesday.
Dr Sam Mensah, Chairman of Council of the Exchange, made the official listing pronouncement and together with officials of the South African group Absa Capital rang the bell to signal the official admission of the security to the trading platform
Source: Ghana News Agency
August 22, 2012--Platinum prices rose to their highest level in four months Wednesday, as spreading labor unrest in South Africa raised the possibility that a further 40% of world production of the metal could be affected by a dispute that has already shut down significant output.
South Africa, which accounts for 75% of world platinum supply, has been roiled by violent clashes at three of its four leading platinum mines this year. Fears that a near two-week standoff between workers and bosses at Lonmin LMI.LN 0.00% PLC's Marikana mine could spread to the world's biggest platinum producer, Anglo-American Platinum Ltd., AMS.JO -0.13% or Amplats, likely underpinned the prices, traders and analysts said.
Source: Wall Street Journal
