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Stocks end 2012 near record highs
December 31, 2012--South African stocks ended the year near record highs on Monday, after a 22% surge that marks their best annual return since 2009, lifted by a runaway performance from the booming retailing industry.
Equities have confounded market watchers this year, as shares largely shrugged off lacklustre economic growth and three months of crippling strikes in the crucial mining sector that sparked credit downgrades.
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Source: FIN24
Rand weakens on fiscal cliff fears
December 31, 2012--The rand weakened against the US dollar on Monday as traders eyed the outcome of talks in the US concerning the fiscal cliff.
“The rand is still relatively strong from the start of the month‚ we are all still eyeing the fiscal cliff debate in the US. This will be the biggest influence on the local currency‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.
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Source: FIN24
Fiscal cliff keeps JSE in the red
December 28, 2012--Concerns about the stalled talks on the US fiscal cliff kept the JSE in the red on Friday.
The US goes over the so-called fiscal cliff at midnight on Monday when stiff tax hikes and drastic spending cuts take effect.
Economists say that would send the world's biggest economy back into recession.
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Source: FIN24
Bonds bid weaker on softer rand
December 28, 2012--The South African bond market was bid weaker in quiet trade at midday on Friday on the back of a softer rand.
At 11:40 the benchmark R186 was bid at 7.260% and offered at 7.255% from a previous close of 7.230%. The R157 was bid at 5.330% and offered at 5.310% from 5.310% previously and the R207 was bid at 6.260% and offered at 6.250% from its overnight close of 6.250%.
The rand was last bid at R8.5064/$ from R8.4778 previously.
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Source: FIN24
Miners pull JSE higher
December 27, 2012--Mining shares nudged the All Share [JSE:J203] index up just after noon on Thursday, as the SA share market looked set to wrap up the year on solid ground.
At 12:35‚ the all share index was up 0.30% to 39 306.75 points. Platinum stocks climbed 0.78% for a 12% gain this month‚ while resources have risen 0.63% on the day.
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Source: FIN24
Bonds a tad softer in thin trade
December 27, 2012--The South African bond market drifted slightly weaker in quiet afternoon trade despite a firmer rand.
At 3:40‚ the benchmark R186 was trading at 7.230% from a previous close of 7.210%. The R157 was trading at 5.320% from 5.290% previously and the R207 was untraded.
The rand was last bid at R8.4998/$ from R8.5657/$ previously.
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Source: FIN24
Rand gains on possible US cliff solution
December 27, 2012--The rand gained ground in late trade on Thursday on a firmer euro due to the prospect of the US averting the fiscal cliff before year-end.
Such a resolution would lead to risk on trade and would help the rand gain further value.
“The rand is a bit stronger due to a firmer euro‚ amid thin and quiet trade and low volumes seen. We will continue trading in the R8.45 to R8.60 range until there is a clear idea of how US politicians are going to resolve the cliff issue‚” a local trader said.
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Source: FIN24
JSE boosted by gold shares
December 24, 2012--Gold stocks helped the JSE finish the quiet and shortened Monday session in positive territory ahead of public holidays on Tuesday and Wednesday.
At 12pm‚ the All Share [JSE:J203] index had added 0.16% to 39‚187.38‚ with gold counters lifting 1.25%.
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Source: FIN24
Bonds close session untraded
December 24, 2012--South African bonds has closed the shortened Monday session untraded ahead of the Christmas and Day of Goodwill holidays.
“No trades went through today... most people are already on holiday‚” a local trader said.
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Source: FIN24
Rand little changed in quiet trade
December 24, 2012-With local markets set to close at midday on Monday ahead of the Christmas Day and the Day of Goodwill holidays and little in the way of local or international news to offer any direction, the rand is expected to remain little changed on Monday.
At 8:30‚ the rand was bid at R8.5659/$ from its previous close of R8.5700. The local currency was bid at R11.2911/€ from its previous close of R11.3204 and at R13.8434 against sterling from R13.7965 before.
Source: FIN24
