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Bonds drift weaker
March 5, 2010--Bonds continued to drift weaker in late trade on Friday with little in the way of fresh news to provide direction.
By 16:00 the short-term government R154 bond was bid at 7.065% and offered at 7.045% after closing at 7.040% on Thursday and the medium-term R157 was at 8.170% from 8.155% at its previous close. The long-term R186 was bid at 9.020% and offered at 9.015% from 8.940% previously.
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Source: FIN24
Rand steady amid firming dollar
March 5, 2010--The rand remained well positioned in the afternoon session on Friday amid better than expected non-farm payrolls data in the US which boosted the dollar.
At 15:45 the rand was bid at R7.4272 to the dollar from R7.4755 at its previous close. It was bid at R10.0935 to the euro from its previous close of R10.1470 and was at R11.1638 against the sterling from R11.2208.
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Source: FIN24
JSE lifted by US job data
March 5, 2010--South African stocks ended in the black on Friday tracking US markets which were boosted by better than expected non-farm payrolls data.
By 17:00 the JSE all share index had gained 0.47%, with resources 0.9% firmer, platinum miners added 0.26%, and Gold stocks climbed 0.28% higher. Banks and financials picked up 1.01% and 0.25% respectively, with industrials 0.14% better.
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Source: FIN24
JSE tracks Dow into the red
February 26, 2010--South African stocks ended marginally down on Friday, tracking a softer opening on the Dow with investors focussing on negative elements of a revised GDP figure and consumer spending data in the US, according to a local trader.
By 17:00 the JSE all share index lost 0.12%, but the gold mining index added 1.08%, resources were 0.24% better, and platinum miners gained 2.79%. Banks collected 0.72%, financials rose 0.39%, but industrials dropped 0.36%.
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Source: FIN24
Bonds hold firm
February 26, 2010--Bonds remained firm going into the weekend on Friday, supported by benign money supply and private sector credit extension data and a recovery in the rand.
They also shrugged off a worse than expected trade deficit for January, which came in at R3.3bn as opposed to an expected R2.5bn. Markets tend to ignore the trade data because of its volatility.
By 16:00 the short-term government R154 bond was bid at 7.040% and offered at 7.020% after closing at 7.080% on Thursday and the medium-term R157 was at 8.170% from 8.230% at its previous close. The long-term R186 was bid at 9.050% and offered at 8.975% from 9.070% previously.
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Source: FIN24
Quiet rand tracks euro
Febraury 26, 2010-- A quiet rand tracked the euro in the afternoon session on Friday.
The local currency earlier bounced off R7.68 against a weaker dollar, a local trader noted.
At 15:44 the rand was bid at R7.7188 to the dollar from R7.7323 at its previous close. It was bid at R10.4645 to the euro from its previous close of R10.4558 and was at R11.7099 against the sterling from R11.7636.
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Source: FIN24
RenCap to focus on Africa
February 22, 2010--Renaissance Capital, the Russian investment bank that nearly collapsed during the financial crisis, is launching an operation in Johannesburg as it looks to leverage a pan-African franchise to build one of the world’s leading emerging markets banks.
RenCap will announce on Monday that it has hired Clifford Sacks, a former senior banker at Merrill Lynch, to head up its South African office as it continues to expand amid the nascent economic recovery.
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Source: FT.com
Citadel Capital acquires stake in Kenya and Uganda's Rift Valley Railway
February 22, 2010--Egypt: Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), the leading private equity firm in Africa and the Middle East with $8.3bn in investments under control,
confirmed today that has acquired a 49% stake in Sheltam Railways Company, the largest single shareholder and lead investor in Rift Valley Railways of Kenya and Uganda.
Source: AME Info
JSE lower on US rate decision
February 19, 2010--South African stocks ended lower on Friday, largely on the back of the US Federal Reserve's surprise decision to raise its discount rate, and a stronger dollar affecting local commodity stocks.
However, the local bourse did manage to come off its earlier lows in the afternoon as the US dollar came off a fraction from its earlier peaks.
By 17:00 the JSE all share index was 0.78% lower, with resources down 1.24%, gold mining shares lost 1.71% and platinum miners fell 0.83%.
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Source: FIN24
Rand firm, dollar off highs
February 19, 2010--The rand was firm in the afternoon session on Friday as the dollar came off its earlier highs.
At 15:40 the rand was bid at 7.6743 to the dollar from 7.6586 at its previous close. It was bid at 10.3815 to the euro from its previous close of 10.3299 and was at 11.8220 against the sterling from 11.8257.
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The euro was bid at $1.3507 from $1.3466 previously.
Source: FIN24
