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JSE cuts losses as Irish worries ease
November 17, 2010-- The JSE clawed back some of its earlier steep losses on Wednesday, ending slightly weaker as concerns over the debt crisis in Ireland showed signs of easing.
The European Union is meeting on Thursday to discuss banks in the euro zone, with the dollar pausing its upward march and bond yields stopping to widen, Kevin Algeo, portfolio manager at Imara SP Reid, said.
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Source: FIN24
Nervous trading pushes long end
November 16, 2010--The long end of the South African bond market came under a little profit taking pressure on Tuesday, while a good auction spurred just a little buying at the short end
By 16:28 the benchmark R157 bond was at 7.010% from its previous close of 7.030%, while the R207 was bid at 7.865% from 7.870% at its previous close. The R186 was at 8.130% after closing at 8.100%.
The rand was bid at 7.0029 to the dollar from its previous close of 6.9771.
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Source: FIN24
SA platinum output to remain flat
November 16, 2010-- SOUTH Africa's platinum supply may rise a touch next year after falling slightly in 2010 on safety-related stoppages and wage strikes in the world's top source of the precious metal, Johnson Matthey said on Tuesday.
The producer of four fifths of the world's platinum will see supply fall by 1% in 2010 from last year to 4.59 million ounces, the refiner said.
Gold leads downside; eye on Ireland read more
Weaker rand affects sentiment The rand was bid at 6.9687 to the dollar from its previous close of 6.9464.
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Nationalisation study gets underway "We are engaging the research institutions to provide researchers (for) the project... read more
World Bank Releases Draft Africa Strategy “We heard from a diverse range of people from all walks of life in many different countries, who all have a stake in Africa’s development,” said Shanta Devarajan, the World Bank’s Chief Economist for Africa. “We carefully reviewed their inputs and produced what we think is a strong draft of a plan that will help carry the Bank forward as it supports Africa’s unprecedented transformation and growth.” view the Africa’s Future and the World Bank’s Role in it report
JSE ends up, tracks global stocks
The rand was bid at 6.87 to the dollar from the 6.93 close on Thursday. Gold was quoted at US$1 392.20 a troy ounce from $1 407/oz at the JSE's previous close. Platinum was at $1 710.00/oz from $1 718.50/oz before
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Bonds quiet ahead of weekend The rand was bid at 6.9134 to the dollar from its previous close of 6.9251. read more
SA acts on BRIC club ambitions read more
Source: mimingmx.com
November 15, 2010-- After a day of numerous company results being released the JSE ended similarly to the way it began - quietly. The rand did firm a bit in late trade and gold did rally, but it has since dropped off again. One of the key features was that gold stocks led the downside.
At 17:00 the JSE all share index was up 0.39%. Banks dropped 0.45% while financials also dropped 0.22%. Industrials were up 0.58%. Platinum counters were 0.23% higher. Gold stocks lost 1.12% and resources rose 0.49%
Source: FIN24
November 15, 2010--South African bonds moved onto the back foot on Monday as worrying global signs and a weak rand put paid to the merry-making.
By 16:50 the benchmark R157 bond was at 7.030% from its close of 6.990% on Friday, while the R207 was bid at 7.885% from 7.820% at its previous close. The R186 was at 8.110% after closing at 8.055%.
Source: FIN24
November 15, 2010--THE ruling ANC will appoint two independent researchers to investigate the nationalisation of mines, its secretary general said on Monday.
"The NEC (national executive committee) has resolved to appoint two senior researchers and a project manager to investigate successful models that could be considered on the role of the state in mining," Gwede Mantashe told reporters in Johannesburg.
Source: miningmx.com
November 15, 2010--The World Bank on Monday released its draft strategy for Africa, Africa’s Future and the World Bank’s Role in it, aimed at steering its policies and operations in the Sub Saharan region for the next five years.
The strategy, which comes later than its expected September release date due to the large amount of feedback from external stakeholders and as the Bank incorporated lessons learned from the previous Africa Action Plan, takes into account input received from more than 1500 people in 36 countries, who were consulted online and in-person over the period June-September 2010.
Source: World Bank
November 12, 2010-- The JSE ended in the black on Friday as global stocks came off their worst levels and banks regained some flavour.
At 17:00 the JSE all share index was up at 0.42%. Banks gained 1.72% while financials added 0.91%. Industrials were also up by 0.87%. Platinum counters were 0.53% higher. Gold stocks lost 1.01% and resources shed 0.25%.
Source: FIN24
November 12, 2010--South African bonds were steady in late trade on Friday, with no fresh news to give the market direction
By 15:30 the benchmark R157 bond was at 6.980%, from its close of 6.990% on Thursday, while the R207 was bid at 7.830% and offered at 7.800% from 7.830% at its previous close. The R186 was bid at 8.065% and offered at 8.030% after closing at 8.055%.
Source: FIN24
November 12, 2010--South Africa has "applied" to join the four-member Bric grouping of fast-growing emerging markets, Russian President Dmitry Medvedev said at the Group of 20 meeting on Friday.
South Africa is the world's 31st-largest economy, according to World Bank data for 2009. It is less than a quarter the size of the smallest Bric economy, Russia, in the informal grouping that also numbers Brazil, India and China.
Source: FIN24
