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Rand range-bound ahead of Greek poll
June 15, 2012--The rand held steady, with a firmer bias, against the US dollar at noon on Friday, as market players looked to the Greek elections on Sunday and potential fallout for forex markets.
The outcome of the election is set to determine the country’s future in the eurozone.
At 11:52 the rand was bid at R8.3522 to the dollar from Thursday’s close of R8.3667. It was bid at R10.5437 to the euro from its previous close of R10.5588 and at R12.9857 against sterling from R13.0021 before.
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Source: FIN24
JSE extends losses on risk aversion
June 14, 2012--The JSE extended losses at noon on Thursday, tracking negative global investor sentiment.
The premium investors demanded to hold Italian debt - one of the eurozone’s biggest economies - rose sharply at the auction as expected‚ adding to losses on global equities.
At 12:04 local time‚ the JSE All Share [JSE:J203] index was down 0.79% to 33 769.57 points‚ with resources losing 1.35%‚ gold counters shedding 0.39% and platinums giving up 1.14%.
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Source: FIN24
Rand tracks the euro lower
June 14, 2012--The rand was weaker in midday trade on Thursday, losing steam on the back of a weaker euro.
“Not a lot is happening in the local markets with everybody waiting for the outcome of the Greek elections on Sunday night. Monday will be a big day for the rand‚” Jan Defouw‚ rand trader at Standard Bank said.
At 11:41 the rand was bid at R8.8.4329 to the dollar from Wednesday’s close of R8.3877. It was bid at R10.5804 to the euro from its previous close of R10.5442 and at R13.0554 against sterling from R13.0099 before.
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Source: FIN24
JSE rises as beat-down Implats gains
June 13, 2012--South African shares rose slightly on Wednesday with investors returning to major platinum miner Impala Platinum, seen as relatively cheap after being beaten down for weeks due to the fall in the spot price of the precious metal.
Trade was thin with many market players waiting for the results of elections in Greece this weekend that will have a huge impact on the euro zone, which is South Africa's biggest trading bloc partner and the main export market for its manufactured goods.
The benchmark index Top 40 - (Tradeable) [JSE:J200] index ended 0.56% stronger at 30 050.04. The broader All Share [JSE:J203] index gained 0.54% to 34 037.83.
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Source: FIN24
Rand weaker as retail data disappoints
June 13, 2012--The rand was tad weaker in afternoon trade on Wednesday, following the release of disappointing data, as well as the continued eurozone debt debacle.
“There were a number of data that disappointed and that filtered to the markets and also the on-going uncertainties in Europe. There is nothing dramatic to report on‚ the whole world is waiting for the outcome of the Greek election over the weekend‚” a local trader said.
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Source: FIN24
Bonds a touch firmer in quiet trade
April 13, 2012--The South African bond market was a touch firmer in quiet midday trade on Wednesday.
“Nothing much is happening as we wait for Sunday’s Greek elections. The bond auction announcement and the BCI failed to move the market‚ while the rand is also very stable‚” a local trader said.
At 11:47‚ the benchmark R157 bond was trading at 6.195% from Tuesday’s close of 6.220%. The R207 was bid at 7.475% and offered at 7.455% from a previous close of 7.480% and the R186 was trading at 8.280% from its close of 8.285%.
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Source: FIN24
Bonds quiet ahead of auction
June 12, 2012--The South African bond market was quiet in early morning trade on Tuesday ahead of the weekly Treasury bond auction at 11:00.
The National Treasury is offering R500m worth of R204 bonds‚ R800m worth of R213 bonds and R800m worth of R209 bonds.
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Source: AME Info
JSE slightly weaker as Europe jitters persist
June 12, 2012--JSE stocks were slightly weaker in early trade on Tuesday, as the uncertainty in Europe persists. With the unpredictable Greek elections just a few days away, negative global sentiment has once again emerged.
“It has been a slow start this morning and the market is still unsure and remains volatile. I think the whole thing is still about Europe. There is a lot of sceptcism about the bailouts. Markets want more details about how they will work‚” said Ferdi Heyeneke of Afrifocus.
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Source: FIN24
JSE opens firmer on global stocks
June 11, 2012--JSE stocks nudged higher in early trade on Monday, on improved global sentiment after Spanish banks were promised a €100bn loan for recapitalisation at the weekend.
“We had a good start‚ tracking the global markets. The Asian markets are looking good and we should maintain these levels‚” a local trader said. “News of the Spanish banks’ loan helped markets‚ we have seen them firming.”
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Source: FIN24
Rand loses ground after euro retraces
June 11, 2012--The rand retreated in afternoon trade on Monday after gains in the morning as a possible Moody's downgrade of Spanish debt dampened the euro. The local currency tends to take direction from the euro as the eurozone is one of South Africa's biggest trading partners.
At 16:12 the rand was bid at R8.3958 to the dollar from Friday’s close of R8.3147. It was bid at R10.5285 to the euro from its previous close of R10.5058 on Friday and at R13.0413 against sterling from R12.9228 at its previous close. The euro was bid at US$1.2542 from Friday’s close of $1.2636.
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Source: FIN24
