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Europe still dictates rand direction
June 28, 2012--The rand was range bound in late trade on Thursday as European leaders kicked off a two-day European Union 19 summit to discuss the future of the eurozone.
“The rand is being dominated by Europe‚ with volatility caused by uncertainty over what would happen if Germany refused to help the eurozone out of its woes‚” a local trader said.
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Source: FIN24
Volatile JSE closes weaker
June 27, 2012--The JSE ended weaker on Wednesday, lagging main global stock markets, as a selloff in mining shares weighed on the all-share index.
The platinum spot price bounced off the near-month lows‚ hurting the platinum stocks‚ although they ended the session off their worst levels.
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Source: FIN24
Rand firmer on export and bond flows
June 27, 2012--The rand was stronger in late trade on Wednesday with foreign investors preferring emerging market currencies to the euro, due to doubts mounting over Germany's commitment to saving the euro.
Large exporters were fairly active in the local market with subsequent foreign currency payment inflows and continued inflows into the local bond market also leading the currency stronger.
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Source: FIN24
JSE ends flat in cautious trade
June 26, 2012--The JSE ended relatively flat on Tuesday in cautious trade ahead of the two-day European Union summit later this week.
Shares in SA’s biggest retail banking group Absa ended more than 8% lower after the group issued a voluntary profit warning indicating that its interim headline earnings were expected to be up to 10% lower than last year.
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Source: FIN24
Rand range bound in afternoon trade
June 26, 2012--The rand traded in a very narrow range today with a slight recovery seen during late trade on Tuesday, with investors awaiting news from the EU summit on Thursday and Friday this week and local traders focussing on the ANC policy conference that started today.
“The rand was trading in a narrow range of between 8.42 and 8.48 today with a weaker bias. We are expecting R8.60 in the near future‚” said Brigid Taylor‚ head of flow sales at Nedbank.
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Source: FIN24
SA stocks wobbly, gold price helps
June 25, 2012--South African stocks slipped in and out of positive territory in early trade on Monday, as nagging concerns about Europe's debt crisis and global growth hit equities
and other riskier assets around the globe.
Brewer SABMiller [JSE:SAB] and base metal miner Assore [JSE:ASR] are among the notable decliners, with SABMiller dropping 1.3% and Assore giving up 1.25%.
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Source: FIN24
Bonds a tad softer in muted trade
June 25, 2012--South African bonds were a touch softer in muted midday trade on Monday as they followed the weaker rand.
"There is not much happening as we wait for the European Union summit at the end of the week‚” a local trader said.
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Source: FIN24
Rand softer in quiet trade on weaker euro
June 25, 2012--The rand was still trading in very quiet territory on Monday afternoon, weakening a bit in line with a softer euro.
"The end-June half-year is coming up when a lot of local companies will be squaring off their books‚ and rand calmness is therefore expected‚” a local trader said.
Investors were also waiting for fresh cues from the upcoming European Union summit on Thursday and Friday‚ when Greece is expected to request an easing of its bail-out terms.
At 15:35 the rand was bid at R8.4759 to the dollar from its previous close of R8.4113.
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Source: FIN24
Mining shares lead JSE weaker
June 22, 2012--The JSE finished weaker for the second straight session on Friday, with commodity shares hard hit, amid global economic growth concerns.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 1.20% to 34 188.87 points‚ with resources sliding 2.81%‚ gold shares dropping 3.76% and platinum counters tumbling 3.81%.
Financials were flat (-0.04%)‚ banking stocks inched up 0.14% and industrials lost 1.02%.
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Source: FIN24
Bonds remain weak on rand
June 22, 2012--Although off the morning's worst levels, South African bonds remained soft in noon trade on Friday on the back of a weaker rand.
At 11:50‚ the benchmark R157 bond was trading at 6.055% from Thursday’s close of 6.030% and Wednesday’s close of 5.960%. The R207 was bid at 7.250% and offered at 7.235% from a previous close of 7.250% and the R186 was trading at 8.070% from its previous close of 8.030%.
The rand was bid at R8.3830 against the dollar from Thursday’s close of R8.3794 and Wednesday’s close of R8.1984.
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Source: FIN24
