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Bonds firm on offshore interest
August 29, 2012--South African bonds were firm in afternoon trade on Wednesday on the back of offshore interest, but traders said volumes were light.
"There was no local data due today so the foreign buying moved the market‚ but basically the market is waiting until Friday’s Jackson Hole conference‚” a local bond trader said.
At 15:50‚ the benchmark R157 bond was trading at 5.510% from 5.540% at Tuesday’s close. The R207 was trading at 6.630% from Tuesday’s close of 6.640%‚ and the R186 was trading at 7.520% from 7.545%.
The rand was bid at R8.3904 per dollar from R8.3937 at Tuesday’s close.
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Source: FIN24
Bonds weak ahead of Tuesday's GDP data
August 27, 2012--South African bonds were weak in thin afternoon trade on Monday ahead of Tuesday's gross domestic product (GDP) data release. Monday was a bank holiday in the UK.
"It was a very dull day with London out of the market. In addition‚ few players wanted to take a large position ahead of tomorrow’s GDP release‚” a local bond trader said.
At 15:36‚ the benchmark R157 bond was trading at 5.590% from 5.560% at Friday’s close. The R207 was bid at 6.680% and offered at 6.655% from 6.655%‚ and the R186 was trading at 7.580% from 7.555%.
The rand was trading at R8.3941 per dollar from R8.3520 at Friday’s close.
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Source: FIN24
Yields on bonds supported, rand weak
August 24, 2012--South African government bonds firmed on Friday as offshore demand, soft inflation and weak growth prospects combined to rally yields this week, but a weak rand that looks set for further falls is applying pressure.
Dealers said the next couple of weeks look favourable for the paper ahead of the next central bank policy-setting meeting as well as the inclusion of South African bonds into a prominent world government bond index on October 1.
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Source: FIN24
Stimulus hopes buoy JSE, global markets
August 23, 2012--The JSE share market remained on the front foot at noon on Wednesday, as were leading global equities, after the latest signals of additional monetary easing from the US Federal Reserve added to market buoyancy.
Mining shares led the upside‚ benefiting from the rise in commodity prices as the US dollar weakened against major currencies.
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Source: FIN24
Rand softer on China PMI data
August 23, 2012--The rand remained relatively weaker in late trade, in line with commodity-linked currencies after weak preliminary Chinese PMI data.
At 16:06 local time the rand was trading at R8.2928 to the dollar from its previous close of R8.2261. It was trading at R10.3958 to the euro from its previous close of R10.3048 and at R13.1506 against sterling from R13.0524 before.
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NewGold Exchange Traded Fund makes debut on Ghana Bourse South African group Absa Capital took the decision to list its gold-backed ETFs on the Ghana Exchange after the primary listing in South Africa and other listings on bourses in Nigeria and Botswana. read more
Platinum Prices Climb Amid Unrest read more
JSE closes lower, resources drag view more
Bonds firmer despite weak rand view more
Industrials, miners push JSE to record close read more
Source: FIN24
August 22, 2012-- Ghanaian investors can now buy and sell the NewGold Exchange Traded Funds after it was officially listed on the Ghana Stock Exchange on Wednesday.
Dr Sam Mensah, Chairman of Council of the Exchange, made the official listing pronouncement and together with officials of the South African group Absa Capital rang the bell to signal the official admission of the security to the trading platform
Source: Ghana News Agency
August 22, 2012--Platinum prices rose to their highest level in four months Wednesday, as spreading labor unrest in South Africa raised the possibility that a further 40% of world production of the metal could be affected by a dispute that has already shut down significant output.
South Africa, which accounts for 75% of world platinum supply, has been roiled by violent clashes at three of its four leading platinum mines this year. Fears that a near two-week standoff between workers and bosses at Lonmin LMI.LN 0.00% PLC's Marikana mine could spread to the world's biggest platinum producer, Anglo-American Platinum Ltd., AMS.JO -0.13% or Amplats, likely underpinned the prices, traders and analysts said.
Source: Wall Street Journal
August 22, 2012--The JSE closed lower on Wednesday with the heavy--weighted resources and gold counters placing most of the drag on the bourse, with profit taking seen after the JSE reached highs on Tuesday.
Markets are now awaiting the release of the minutes to the Federal Reserve’s latest policy-setting committee meeting‚ which are due at 20:00 local time on Wednesday. Clues will be sought therefrom on how close the Fed might be to providing additional monetary stimulus.
Source: FIN24
August 22, 2012--South African bonds were firmer in afternoon trade on Wednesday, despite a weaker rand as better than expected July consumer price index (CPI) data boosted demand.
"The CPI data was better than expected so that helped in the morning and in the afternoon we have seen continued foreign buying despite the weak rand‚” a local bond trader said.
Source: FIN24
August 21, 2012--Stocks booked a fresh record close on Tuesday as industrials and miners pushed higher on hopes that meetings on Greece's future this week and new plans drawn by the European Central Bank will help Europe manage its debt woes.
The benchmark Top-40 index closed up 1.06% at 31 630.26, after earlier touching a lifetime high of 31 690.59.
Source: FIN24
