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JSE eases as Gold Fields sinks
February 13, 2014--South African stocks ended in the red on Thursday, giving up some of the previous session's strong gains, with Gold Fields blazing the downhill trail as it took a $672m write-down because of the steep fall in the bullion price.
Gold Fields' shares fell 5.2% to R40.93 after it posted a slight quarterly rise in normalised earnings as production rose but investors focused on the impairment.
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Source: FIN24
Rand gives up gains, stays above R11/$
February 13, 2014--The rand has slipped against the dollar after failing to sustain gains made the previous day.
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Source: FIN24
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
