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Rand slides to 3-week lows
December 27, 2013--The rand slid more than 1% to a 21-day low against the dollar on Friday as political turmoil in Turkey made investors nervous about high-yielding but riskier emerging market assets.
Government bonds were not spared from the sell-off, with the yield for the benchmark 2026 note adding three basis points to 8.185% while that for the 2015 paper was up 2.5 basis points to 6.08%.
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Source: FIN24
SA stocks rise again
December 24, 2013--South African stocks put in a sixth straight day of gains on Tuesday in a shortened Christmas Eve session as renewed appetite for risk brought the market closer to life highs reached last month.
Among gainers, Blue Label Telecoms, which provides pre-paid cellular airtime, added 2.3% to R8.10 after the company said one of its units had acquired a data provider for around $30m (about R306.6m) that will open new channels for the distribution of its products and services.
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Source: FIN24
Rand flat in thin pre-holiday trade
December 24, 2013--The rand was virtually unchanged against the dollar in very thin Tuesday trade, with Johannesburg-based market players finishing early on the eve of Christmas.
Government bonds were also largely steady, with the yield for the benchmark 2026 note unchanged at 8.155% while that for the 2015 paper at the shorter end of the curve crept up half a basis point to 6.055%.
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Source: FIN24
SA stocks maintain late-year rally
December 23, 2013--South African stocks gained for a fifth straight session on Monday, as signs of improving U.S. economic growth helped markets ease into holiday mode with last-minute festive buying.
But bullion producers such as Harmony Gold remained out of favour as the gold price edged down and headed for its biggest yearly loss since 1981.
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Source: FIN24
Rand edges up, bonds firm
December 23, 2013--The rand edged up against the dollar and government bonds were also firmer in a quiet Monday session with many market players taking year-end breaks.
The yields for the benchmark 2026 note and the 2015 paper were each down 4 basis points, at 8.155% and 6.05% respectively.
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Source: FIN24
SA stocks close higher
December 20, 2013--South African stocks have edged up on Friday, their fourth straight day of gains, with riskier assets still in demand following a broadly neutral shift in U.S. monetary policy.
"The market is still going for risky assets. You see that as riskier assets such as Impala Platinum are really running today," said Abri du Plessis, chief investment officer at Gryphon Asset in Cape Town.
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Source: FIN24
Rand stable, bonds slightly weaker
December 20, 2013--The rand was stable on Friday but remained on a weaker footing against a firmer dollar, buoyed by the US Federal Reserve's decision to start trimming its bond-buying programme.
The rand was at R10.4050 to the dollar at 06:29 GMT, little changed from its New York close on Thursday, when it fell to a one-week low of R10.4400.
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Source: FIN24
SA stocks edge higher
December 19, 2013--South African stocks ended higher on Thursday in line with major global markets after a modest stimulus cut by the US central bank, but faltering commodity prices hit mining shares.
The US Federal Reserve ended months of market speculation by deciding to cut its monthly bond purchases by $10bn to $75bn on Wednesday, and sought to temper the move by sticking to rock-bottom interest rates.
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Source: FIN24
Rand weaker vs dollar
December 19, 2013--The rand fell over 1% on Thursday against a dollar bolstered by the US Federal Reserve's decision to start paring back its bond-buying in January.
At 15:46 GMT, the rand was down 0.63% at R10.4200/4, coming back from a session low of R10.4400/$.
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Source: FIN24
SA stocks tick up ahead of Fed talks
December 18, 2013--South African stocks edged higher in sluggish trade on Wednesday, as global investors awaited the outcome of a US Federal Reserve policy meeting that could see the world's top economy start to scale back its massive stimulus programme.
Shares of Kumba Iron Ore extended gains, adding 1.7% to R430.03 a day after the company said it expects full-year earnings to be at least 20% higher, on the back of firmer prices. Shares of Kumba surged more than 7% in the previous session.
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Source: FIN24
