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JSE ticks up, Discovery shines
February 12, 2014--South African stocks ended higher on Wednesday as shares of Discovery climbed after the health insurer said it expected higher half-year earnings while resource companies surged on higher gold prices.
Shares of Discovery climbed 4.2% to R77.93, its biggest daily percentage jump in seven months.
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Source: FIN24
Rand stable vs dollar
February 12, 2014--The rand held steady against the dollar on Wednesday after closing above the key R11.000/$ level the previous day, but struggled to make significant gains.
The rand was at R10.9725/$ at 15:08 GMT, little changed from Tuesday's New York close, though it had earlier hit a session high of R10.9300/$.
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Source: FIN24
JSE falls slightly as retailers weigh
January 11, 2013--South African stocks ended slightly weaker on Tuesday, snapping a three-day winning streak, with retailers among the worst performers on worries about consumer spending and high personal debt levels.
JD Group fell the most on the bourse after the credit-based furniture retailer warned that it was likely to report profit loss due to bad debts. Its shares fell 6.3% to R25.40.
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Source: FIN24
Rand fails to consolidate data-driven gains
February 11, 2014--The rand strengthened on Tuesday on upbeat economic data, breaching 11 to the dollar, but it could not hold on to the gains.
The rand was trading at R11.0080/$ at 15:36 GMT, 1% firmer than Monday's New York close. It had lost some ground after reaching R10.9700/$ earlier in the session.
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Source: FIN24
JSE extends gains, precious producers shine
February 10, 2014--South African stocks have gained for the third straight session, led by gold and platinum producers as the price of both precious metals cruised higher.
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Source: FIN24
Strikes keep rand on the ropes
February 10, 2014--The rand has recorded one of the steepest losses in a basket of emerging market currencies as investors refocused on strikes and protests bedevilling the economy.
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Source: FIN24
JSE ticks higher but Harmony falls
February 7, 2014--South African stocks added 0.8% on Friday, buoyed by US data that soothed some concerns about the health of the world's top economy, but shares of Harmony Gold fell after a mining accident.
Harmony's shares fell 2.8% to R28.95, after the gold producer stopped all its operations for a 24-hour safety shift following an rock-fall and fire that killed at least eight workers, the worst mining in South Africa in five years.
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Source: FIN24
Rand finds respite on US jobs data
February 7, 2014--The rand touched its strongest level in more than a week against the dollar on Friday as U.S. jobs numbers backed the case to hold off a taper in US monetary stimulus, boosting emerging market currencies.
The rand climbed to R10.9400/$ after the non-farm payrolls report, a level last reached on January 29, before losing some steam to R11.0670/$ by 16:24 GMT, 0.29% off Thursday's close.
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Source: SEC.gov
JSE fizzles after promising start
February 6, 2014--Technically the JSE is oversold and there are indications of bargain hunters being around, but confidence levels are still too low for a decent upside correction to take place.
That seems to be case as another promising start on the JSE this morning, with all the major indices strongly higher, fizzled out by midday today. By midday the market was fluctuating and most of the indices ware only marginally higher.
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Source: FIN24
Rand, government bonds find support
February 6, 2014--The rand firmed against the dollar on Thursday, with dealers seeing a consolidation phase for emerging markets during a pick-up in global risk sentiment.
The rand was up 0.3% on the dollar to R11.0950 at 06:47 GMT, compared with an R11.1300 close in New York on Wednesday.
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Source: FIN24
