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East Africa starts monetary union discussions this week
April 25, 2011--SENIOR officials among them central bank governors from the East African Community partner states sit this week in Mwanza, Tanzania in another negotiation round moving closer to the anticipated East African Monetary Union.
The executives who will also include capital markets authorities, insurance and pensions regulatory agencies and national statistics officials will be considering the provisions of the draft protocol in four working groups of macroeconomic, statistics, financial sector and payment and settlement systems.
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Source: New Vision
Bonds tad firmer ahead of long weekend
April 21, 2011--South African bonds were a smidgen firmer in late trade on Thursday on the back of a stronger rand as local markets wound down for the four-day Easter weekend.
By 15:55, the benchmark R157 bond was trading at 7.630% from its previous close of 7.645%, while the R207 was trading at 8.410% from 8.420% before. The R186 was bid at 8.660% and offered at 8.630% from its previous close of 8.655%.
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Source: FIN24
JSE ends firmer despite poor US data
April 21, 2011--The JSE closed modestly higher in trading characterised by light volumes on Thursday, with investors fixated on locking up profits ahead of the Easter weekend.
By 17:00 local time, the JSE All Share [JSE:J203] index rose 0.41%, with resources firming 0.52% and platinum miners gaining 1.33%. Banks also found 0.31%, financials added 0.41% and industrials were up 0.29%.
The rand was bid at 6.69 to the dollar from 6.77 at the JSE's close on Wednesday.
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Source: FIN24
JSE maintains firmer tone
April 20, 2011--The JSE extended gains in midday trade on Wednesday, propped up by general mining counters as investors looked past the ratings agency Standard & Poor's outlook on US debt.
Devin Shutte, an equity trader at stockbrokerage Newstrading, said positive US corporate earnings, in particular, had helped offset the gloomy mood in global markets, he added.
Standard & Poor's cut its outlook on US government debt on Monday, rattling investors and sparking a huge sell-off.
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Source: FIN24
Bonds little moved in lacklustre trade
April 20, 2011--South African bonds were slightly firmer in late trade on Wednesday, amid quiet conditions ahead of the long Easter weekend.
Owing to the long weekend and more public holidays next week and the following one, many players are keeping to the sidelines.
Bonds were also unmoved by worse than expected consumer inflation data earlier on Wednesday morning.
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Source: FIN24
Rally helps JSE to rebound
April 19, 2011--- The JSE rebounded strongly on Tuesday, ending the day in positive territory thanks to bargain-hunting and some possible short-covering.
The local market enjoyed a snapback rally after tumbling 2.60% yesterday, said Andrew Todd, an equity derivatives trader at Imara SP Reid. But trading remained skittish, he added.
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Source: FIN24
Bonds softer in quiet trade
April 18, 2011--South African bonds were softer in late trade on Monday, mainly on the back of the weaker rand, with many players electing to remain on the sidelines ahead of the Easter weekend and inflation and retail data later this week.
By 15:45, the benchmark R157 bond was trading at 7.715% from its previous close of 7.670%, while the R207 was bid at 8.505% from 8.430%. The R186 was bid at 8.750% from its previous close of 8.685%.
The rand was bid at 6.8588 to the dollar from its previous close of 6.7944.
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Source: FIN24
Bonds softer in quiet trade
April 18, 2011--South African bonds were softer in late trade on Monday, mainly on the back of the weaker rand, with many players electing to remain on the sidelines ahead of the Easter weekend and inflation and retail data later this week.
By 15:45, the benchmark R157 bond was trading at 7.715% from its previous close of 7.670%, while the R207 was bid at 8.505% from 8.430%. The R186 was bid at 8.750% from its previous close of 8.685%.
The rand was bid at 6.8588 to the dollar from its previous close of 6.7944.
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Source: FIN24
JSE falls as S&P cuts US debt outlook
April 18, 2011-- The JSE tumbled 2.60% or nearly 840 points on Monday after Standard & Poor's (S&P) trimmed its outlook on US government debt, sparking fear among investors in SA and across the world.
"The S&P revised its outlook for US debt and said it might downgrade America," said Andrew Todd, an equity derivatives trader at Imara SP Reid. The S&P move sent shivers down investors' spines, Todd said.
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Source: FIN24
Bonds firm on foreign interest
April 15, 2011--South African bonds were firmer in midday trade on Friday, which a trader said was on the back of interest from offshore players.
By 11:50, the benchmark R157 bond was trading at 7.730% from its previous close of 7.770%, while the R207 was bid at 8.490%, from its previous close of 8.520. The R186 was bid at 8.745% from its previous close of 8.780%.
The rand was bid at R6.8250 to the dollar from its previous close of R6.8348.
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Source: FIN24
