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Rand turns weaker, bonds hold gains
December 21, 2011-- The rand reversed its earlier gains against the dollar on Wednesday as wary investors lost their appetite for risky assets on nagging worries about debt constraints in the euro zone, South Africa's main trading partner.
Government bonds however closed firmer and yields fell, with the bond exchange's yearend shorter trading hours shielding the local debt market from the currency's losses.
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Source: FIN24
FTSE Group working on Pan-Africa index with African Securities Exchanges Association
December 21, 2011--FTSE (www.ftse.com) is working on a FTSE-ASEA index with the African Securities Exchanges Association (www.africansea.org), which will help to unlock Africa an investment for larger portfolio investors.
According to Imogen Dillon Hatcher, Executive Director, FTSE Group, speaking at the ASEA conference in Marrakech, Morocco, on 12 Dec, the index will make clear how much Africa is outperforming the rest of the world: “A ‘back-cast’ of the FTSE Africa index performs better than FTSE world index by quite a margin”. The index covers stocks on 16 exchanges and is adjusted for investibility, including free float and liquidity.
She said that FTSE Group was restructured on 12 Dec, with the London Stock Exchange Group buying out the 50% share owned by Pearson, owner of the Financial Times newspaper, “as of this morning”.
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Source: African Capital Markets
JSE makes late gains as Dow soars
December 20, 2011--The JSE ended 62 points to the good on Tuesday, moving into the black late on, following a positive start on Wall Street.
At 17:00 local time, the all share index added 0.20%. The resources index added 0.71%, and gold stocks rose 0.69%, but the platinum index was off by just 0.12%.
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Source: FIN24
Rand firms but eurozone woes weigh
December 20, 2011--South Africa's rand was slightly firmer against the dollar on Tuesday and government bonds also edged higher, but worries about the euro zone credit crisis were likely to limit gains.
The rand was up 0.32 percent at 8.37 to the greenback by 0653 GMT after ending Monday's session at 8.3970.
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Source: FIN24
JSE lifts after US data
December 15, 2011--The JSE closed up on Thursday following US markets as key data came in better than expected.
A local trader said that the US had picked markets up with US jobless claims, indicating a firmer economy coming out, at their lowest levels in three-and-a-half years.
The futures close out during the day distorted the market a bit resulting in a couple of stocks doing "some strange things".
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Source: FIN24
Rand in a tight range in thin trade
December 15, 2011--The rand was trading in a narrow range in noon trade on Thursday, with trade thin ahead of a local public holiday on Friday.
At 12:03 local time, the rand was bid at R8.4253 to the dollar from its previous close of R8.4232. It was bid at R10.9250 to the euro from R10.9395 before, and at R13.0252 against sterling from R13.0236 previously.
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Source: FIN24
Bonds firmer in quiet trade
December 15, 2011--South African bonds were firmer in midday trade on Thursday, largely on the back of a steady rand.
By 11:50, the benchmark R157 bond was bid at 6.980% and offered at 6.965% from its previous close of 7.015%. The R207 was bid at 8.185% and offered at 8.160% from a previous close of 8.215% and the R186 was trading at 8.730% from its close of 8.760%.
The rand was bid at 8.4231 against the dollar from its previous close of 8.4232.
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Source: FIN24
Rand under pressure, bonds weak
December 14, 2011--South Africa’s government bonds fell on Wednesday after data showed inflation hit 20-month highs in November, diminishing lingering hopes of an interest rate cut next year.
The data added to negative sentiment that was already driving markets weaker and saw the rand hit two-week lows.
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Source: FIN24
