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Bonds buoyed by firmer rand
April 8, 2011--South African bond yields were up to 10 basis points firmer in midday trade on Friday, as the stronger local currency rubbed off on the market.
By 11:59, the benchmark R157 bond was trading at 7.650% from its previous close of 7.700%, while the R207 was bid at 8.400% from its previous close of 8.445%. The R186 was trading at 8.600% from its previous close of 8.700%.
The rand was bid at 6.6300 to the dollar from its previous close of 6.6634.
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Source: FIN 24
Firmer JSE awaits US earnings
April 8, 2011--The JSE gave up some of its earlier gains but managed to end in positive territory on Friday, as investors banked profits following a good week. Anglo American [JSE:AGL] and BHP Billiton [JSE:BIL] rallied as they had underperformed the market recently, a portfolio manager said.
At its close, the JSE All Share [JSE:J203] index had risen 0.53%, with resources rising 1.53% and gold counters gaining 0.66%. But platinum miners lost 0.21%.
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Source: FIN24
Weak JSE braces for ECB decision
April 7, 2011--The JSE stayed weaker across the board at noon on Thursday, as investors around the world held their breath ahead of the European Central Bank's (ECB's) interest rates decision later today.
By 12:06 local time, the JSE All Share [JSE:J203] index lost 0.37%, with gold counters giving up 1.23%, platinum miners falling 0.66% and resources shedding 0.54%. Banks lost 0.31%, financials declined 0.16% and industrials were 0.28% lower.
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Source: FIN24
Bonds stay weak but off worst levels
April 7, 2011--South African bonds retained their weaker bias but were off the session's worst levels in late trade on Thursday, ignoring the stronger local currency.
By 15:50, the benchmark R157 bond was trading at 7.720% from its previous close of 7.700%, while the R207 was bid at 8.470% from its previous close of 8.455%. The R186 was trading at 8.765% from its previous close of 8.710%.
The rand was bid at 6.6448 to the dollar from its previous close of 6.6807.
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Source: FIN24
Bonds track flying rand
April 6, 2011--South African bonds remained on a firm footing in afternoon trade on Wednesday, tracking a strong rand trading at its best levels against the greenback in more three months.
By 16:02 local time, the benchmark R157 bond was trading at 7.690% from its previous close of 7.720%, while the R207 was bid at 8.475% from its previous close of 8.520%. The R186 was trading at 8.690% from its previous close of 8.770%.
The rand was bid at 6.6673 to the dollar from its previous close of 6.7016.
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Source: FIN24
Commodities bolster JSE
April 6, 2011--The JSE picked up 250 points on Wednesday, boosted by commodities, which in turn were lifted by a record gold price, while the local bourse also fed off positive sentiment on global markets.
At its close, the JSE All Share [JSE:J203] index gained 0.79% to 32,630.86 points, led by gold counters, up 2.29%. Platinum miners advanced 1.19% and resources gathered 0.99%.
Banks found 0.58%, financials gained 0.64% and industrials improved 0.62%.
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Source: FIN24
Bonds slip on auction results
April 5, 2011- South African bonds were slightly weaker in afternoon trade on Tuesday following a "slightly worse than expected" auction, according to a local dealer.
By 15:17, the benchmark R157 bond was trading at 7.720% from its previous close of 7.695%, while the R207 was trading at 8.520% from its previous close of 8.510%. The R186 was trading at 8.765% from its previous close of 8.795%.
The rand was bid at 6.6936 to the dollar from its previous close of 6.7151.
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Source: FIN24
JSE posts gains at end of 'dull day'
April 5, 2011--The JSE closed firmly in the black on Tuesday, despite flat trade in Europe and a tentative opening on Wall Street.
There was buying interest across the board and the upward march was led by resource counters, which rose on high commodity prices in spite of the stubbornly strong rand, Andrew Todd, an equity derivatives trader at Imara SP Reid, said. "It's been a dull day and trading only picked up in the last hour of trade. Nothing stands out," Todd said.
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Source: FIN24
Bonds bolstered by short covering
April 4, 2011--Some short covering saw South African bonds on the front foot in late trade on Monday.
A strong rand also helped to bolster the local gilts.
By 15:45, the benchmark R157 bond was trading at 7.705% from its previous close of 7.760%, while the R207 was bid at 8.520% from its previous close of 8.600%. The R186 was at 8.800% from its previous close of 8.875%.
The rand was bid at 6.6791 to the dollar from its previous close of 6.6823.
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Source: FIN24
Lacklustre JSE ends on positive note
April 4, 2011--The JSE ended a fraction firmer on Monday, led by resources, but lacking no clear direction amid thin trade volumes.
A local trader said: "It has been a rather uninspiring day with no real direction amid thin volumes following a decent run last week. The JSE opened in positive territory this morning, tracking markets in Asia, and then drifted with commodity stocks mostly firmer. The US market has opened in positive territory, but nothing to write home about."
At its close, the JSE All Share [JSE:J203] index rose 0.16%, with resources climbing 0.63%. Gold miners lost 0.15%, while platinum miners declined 0.77%. Banks fell 0.78% and financials were 0.43% lower, but industrials were flat.
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Source: FIN24
