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JSE rallies as risk aversion subsides
February 2, 2011-The JSE rallied over 2% on Wednesday as commodity prices rose and global markets firmed amid an easing in geopolitical tensions after Egyptian President Hosni Mubarak indicated he would stand down in September.
The JSE all share index surged 2.04%, with a 2.93% rise in resources spearheading the rally. Platinum miners were up 2.51% and gold miners 2.05%.
Industrials advanced 1.78%, banks collected 1.15% and financials closed down 0.66% higher.
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Source: FIN24
Rand set to weaken further: poll
February 2, 2011--The rand is seen weaker against the dollar 12 months from now as yield spreads with developed markets narrow, causing investors to quit riskier emerging markets, a Reuters poll showed on Wednesday.
Median forecasts were for the currency to end-February at R7.05/$ per dollar, then to stay flat at R7.06/$ by end-April. The rand, currently at R7.14/$, will weaken to R7.23/$ six months from now, and R7.30/$ in 12 months.
Bonds firmer on auction and rand The rand was bid at 7.1539 to the dollar from its previous close of 7.1751. read more
JSE ends higher on resources boost read more
Bonds weak, but off worst levels By 3.50pm, the benchmark R157 bond was trading at 7.880% from its previous close of 7.850%, while the R207 was bid at 8.630% from its previous close of 8.590%. The R186 was bid at 8.725% from 8.695%. read more
JSE plagued by Egypt woes read more
Bonds remain weak on rand The rand was bid at 7.1156 to the dollar from its previous close of 7.0521. read more
JSE drops 520 points on US GDP Banks gave up 1.83%, financials shed 1.27%, and industrials lost 1.33%. read more
Bonds weaker, market caught long The rand was bid at 7.0466 to the dollar from its previous close of 7.0634. read more
JSE gains capped by US jobs data Resources gained 0.38%, but platinum miners were off 1.68%. Financials improved by 1.03%, banks added 1.48% and industrials gathered 0.47%. read more
Source: FIN24
February 1, 2011--South African bonds were up to 13 basis points firmer in late trade on Tuesday, mainly on the back of a steady rand and a well-bid auction earlier in the day.
By 15:50, the benchmark R157 bond was trading at 7.780% from its previous close of 7.880%, while the R207 was at 8.520% from its previous close of 8.620%. The R186 was trading at 8.625% from 8.715%.
Source: FIN24
February 1, 2011--The JSE ended firmer on Tuesday, given strong support by resources, which rose amid dissipating investor concerns over political instability in Egypt and positive company earnings in the US.
The JSE all share index closed 1.40% higher, led by resources which added 2.14% and gold miners which added 0.98%. Platinum miners were also 0.98% higher, while industrials lifted 0.89%. Financials were 0.89% higher, and banks rose 0.34%.
Source: FIN24
January 31, 2011--South African bonds remained weak but were off the session's worst levels in late trade.
Bonds weak on rand, risk aversion Bonds were up to nine basis points weaker earlier in the day on the back of risk aversion emanating from political turmoil in Egypt and a softer rand.
Source: FIN24
January 31, 2011-- The JSE ended in negative territory on Monday as political turmoil in Egypt continued to plague the local bourse.
The JSE all share index closed 0.46% lower, led by industrials, down 1.43%, and followed by banks which gave up 0.73%. Financials also declined, by 0.66%. Gold miners crept into the black, up 0.03%, as resources and platinum miners added 0.63% and 0.45% respectively.
Source: FIN24
January 28, 2011--South African bonds were up to seven basis points weaker in late trade on Friday, on the back of a soft local rand.
By 15:50, the benchmark R157 bond was trading at 7.850% from its previous close of 7.770%, while the R207 was bid at 8.600% from its previous close of 8.505%. The R186 was bid at 8.715% from 8.600%.
Source: FIN24
January 28, 2011--The JSE gave up more than 520 points at its close on Friday, taking a dim view of the gross domestic product (GDP) figure in the US, according to a local trader.
The JSE all share index closed 1.62% in the red, led by resources, 2.08% worse off, and platinum miners 2.75% weaker. Gold miners lost 0.74%.
Source: FIN24
January 27, 2011-- South African bonds were weaker in late trade on Thursday. A local trader said the market was caught long following Tuesday's auction and a bout of foreign selling on Wednesday.
By 15:50, the benchmark R157 bond was trading at 7.780% from its previous close of 7.750%, while the R207 was bid at 8.520% from its previous close of 8.480%. The R186 was trading at 8.570% from 8.580%.
Source: FIN24
January 27, 2011--The JSE ended in positive territory on Thursday but off the session's best levels after worse than expected US jobless claims data.
The JSE all share index closed 0.54% firmer, with gold miners up 1.24%.
Source: FIN24
