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SA stocks snap four-day rally
December 10, 2013--South African stocks snapped a four-day rally on Tuesda, falling into the red with investors taking profits in stocks such as up-market retailer Woolworths, which have helped lead the recent surge.
"If you look at how Woolworths has performed the last couple of days, my gut feel is that it is profit taking with some guys taking some cash off the table", said Mohammed Nalla, head of strategic research at Nedbank Capital.
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Source: FIN24
Rand firms ahead of mining, manufacturing data
December 10, 2013--The rand firmed against the dollar on Tuesday and could gain further momentum if mining and manufacturing data comes out stronger than expected.
The rand was at 10.3700 to the dollar at 06:32 GMT, up 0.2% from Monday's New York close.
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Source: FIN24
Rand slightly softer
December 9, 2013--The rand was slightly weaker against the dollar on Monday ahead of a data-heavy week but is expected to trade rangebound until the US Federal Reserve's next policy meeting next week.
The rand was at R10.3530/$ at 15:39 GMT, down 0.3% from Friday's New York close.
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Source: FIN24
Small gains for SA stocks
December 9, 2013--South African stocks eked out a fourth straight session of gains on Monday, lead by retailers such as Spar Group and Woolworths, which analysts say are now presenting value after underperforming the wider market this year.
Food retailers especially are seen getting a boost as consumers' restraint eases over the approaching Christmas period, though the national mood has been subdued by the death of the country's first black president Nelson Mandela.
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Source: FIN24
No fear of 'Mandela crash' for SA economy
December 7, 2013--Economists slapped down speculation that former president Nelson Mandela's death could prompt an economic and financial slump in South Africa, but warned the gains he inspired remain fragile.
Analysts pointed to a strong showing by the Johannesburg Stock Exchange on Friday and the rand despite news of his death, dismissing doomsayers who predicted the 95-year-old's demise would spark a crisis.
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Source: FIN24
JSE unfazed by Mandela's death
December 6, 2013--South African stocks rose for the third straight day on Friday, largely unfazed by the death of Nelson Mandela.
Mandela, a symbol of racial reconciliation and political compromise, died at 95 late on Thursday from a recurring lung illness, worrying some that simmering social tensions may threaten Africa's largest economy.
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Source: FIN24
Rand recoups losses, ends firmer
December 6, 2013--South Africa's rand ended the week firmer on Friday, bouncing back from oversold levels that saw the currency fall to a 4-1/2 year low after upbeat US jobs data.
Trading in South Africa paused for five minutes of silence observed for the passing of revered former president Nelson Mandela.
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Source: FIN24
Rand breaks through R10.50/$
December 5, 2013--The rand fell to its weakest point in over 4-1/2 years on Thursday after it broke through key technical levels as offshore investors dumped local debt and shares.
The rand dropped over 1.1% to R10.5395/$, its weakest since March 2009.
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Source: FIN24
SA stocks steady
December 4, 2013--South African stocks ended little changed on Wednesday as investors bought shares of companies such as brewer SABMiller but sold mining stocks after a fall in commodity prices.
Shares of mining firms such as Gold Fields fell after the bullion price hit a 5-month low as investors awaited U.S. economic data later in the week that could increase speculation the Federal Reserve will soon exit its asset purchase scheme.
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Source: FIN24
South Africa: Economic Growth "Disappointingly Low" in Third Quarter
December 3, 2013-The improvement in global economic activity achieved in the second quarter of 2013 was broadly sustained in the third quarter, with real growth easing slightly on account of a moderation in the advanced economies. Growth in the emerging economies remained fairly pedestrian by past standards but inched higher, primarily driven by improved growth in China.
The recovery remained uneven and fragile, with macroeconomic policies in key economies continuing to support economic activity. In September 2013 the United States (US) Federal Reserve surprised markets by postponing the tapering of its quantitative easing programme, mindful of the uncertainties arising from the deadlock in US fiscal policy and the need to reinforce further the traction in the economic recovery.
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Source: AllAfrica.com
