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Tuesday, 27 September 2011 - 20:00
Charts
S.Africa's rand up 3 pct vs. dollar, bonds follow
JOHANNESBURG (Reuters) - South Africa's rand firmed over three percent on the dollar on Tuesday and was the biggest gainer in a basket of emerging market currencies watched by Reuters, as investors returned to riskier assets on hopes Europe's debt crisis will be solved.
The rand surged on the day as the market also saw last week's heavy losses as overdone, while bonds rallied in line with better global sentiment.
The rand has lost 22 percent so far this month, falling to its worst level in over two years on Thursday.
However, it has been on a major bounce in the last three sessions, recovering 8 percent since hitting a 28-month low of 8.4950 on Thursday. By 1530 GMT it was trading 2.86 percent firmer against the dollar at 7.80, after earlier hitting 7.7813. It closed at 8.03 in New York on Monday.
Global markets are encouraged by hopes that European policymakers will ease the region's debt crisis.
"Its part of a pull back after last week's blowout, most things are stabilising. There is a little bit of risk back-on after those shenanigans: last week's move on the rand was very much an overshoot, so everything is coming back into line," said Jim Bryson, a trader at Rand Merchant Bank.
Sentiment is likely to remain fragile though until investors see decisive action to curb European debt, and with some traders waiting it out, volume is at it lowest in three days and moves are somewhat exaggerated.
"We've seen in the last few weeks that any kind of stability tends to be fleeting and therefore we're going to take this all with a pinch of salt," Bryson said.
He said 7.80 was the next key level for the currency, after breaking through the psychological 8 rand level in two sessions.
Government bonds followed the firmer trend, taking advantage of the risk-on trade to attract some foreigners back into the market. The 2015 yield closed 18 basis points lower at 6.88 percent. The yield on the 2026 note fell 14 basis points on the day to 8.44 percent.
"Demand for risk globally which began in U.S equity markets overnight filtered through. That's seen the rand and bonds rally quite significantly and it looks like with the currency going below 7.80 now ... I suspect we'll see more bond strength come tomorrow morning," said Richard Farber, bond trader at World Wide Capital Securities.
Tue, 27 Sep 2011Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-09-27T071714Z_01_AJOE78Q0K8S00_RTROPTP_3_OZABS-SAFRICA-STOCKS-20110927.JPG "Electronic board displaying movements in major indices is seen at Johannesburg stock exchange in Sandton") South African stocks surged nearly 4 percent on Tuesday, booking their biggest one-day percentage rise in 16 months, as beaten down shares were lifted by renewed optimism that Europe would deal with its debt crisis. Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-09-27T155318Z_01_AJOE78Q184W00_RTROPTP_3_OZABS-SAFRICA-RAND-20110927.JPG "A CHILD HOLDS A FIFTY RAND NOTE.") South Africa's rand extended its gains against the dollar to three percent on Tuesday as investors bought high-risk assets including global stocks, hopeful that European policymakers will come up with measures to ease the euro zone debt crisis. Full story |
 A Libyan commander leading the attack on Muammar Gaddafi's hometown of Sirte said on Tuesday he was in talks with elders inside the city about a truce, but the head of another anti-Gaddafi unit rejected negotiations. Full story  Two subway trains collided in Shanghai on Tuesday injuring more than 270 passengers, 20 critically, prompting public anger two months after a crash between two high-speed trains and renewing concerns about China's aggressive rail building plans. Full story  Rahul Gandhi, heir to the family dynasty that has dominated politics in the world's biggest democracy for generations, was trying to make himself heard in the uproar of India's parliament. Full story |
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Markets |
U.S. stocks extended a
recent rally and rose more than 2 percent on Tuesday on euro-
zone officials' efforts to solidify the region's. . . Full story |
Stocks on major world
exchanges were headed for their largest daily gain in 16 months
on Tuesday and commodities also jumped on rising. . . Full story |
Gold rose 2 percent on
Tuesday as a recoil in the dollar and renewed investor risk
appetite helped the precious metal's recovery from. . . Full story |
European shares jumped on
Tuesday to make their largest percentage gain since May 2010 and
on track to make their biggest weekly gain. . . Full story | |||
Britain's top share index gained
strongly on Tuesday, posting its biggest one-day percentage gain
for 16 months, boosted by a rally from commodity. . . Full story |
Hong Kong shares extended
their gains on Tuesday, with Ping An Insurance (Group) Co of
China Ltd leading the way among outperforming mainland
large. . . Full story |
Australian stocks closed 3.6 percent
higher on Tuesday, the biggest daily gain in almost three years,
after miners and banks led a relief. . . Full story |
The Nikkei average climbed almost
3 percent on Tuesday, bouncing off a 2-1/2 year closing low
marked the previous day on a rush. . . Full story | ||||
SA Business |
Harmony Gold, South Africa's third-largest gold miner, said on Tuesday it had suspended operations at its Evander mine after an accident led to fatalities at the operation.. . . Full story |
South Africa exported 42,402 tonnes of white maize last week compared with 9,056 tonnes in the previous week, the South African Grain Information Service (SAGIS) said on Tuesday.. . . Full story |
South Africa's rand strengthened as much as 1.3 percent on Tuesday to a week-high against the dollar as hopes for a rescue of debt-ridden countries in Europe took some pressure off. . . Full story | ||||
South Africa slightly cut its May 2010-April 2011 season maize output forecast on Tuesday, citing a lower pace of deliveries to. . . Full story | . . . Full story | South Africa's FirstRand plans to start a retail banking business in India in December, the Business Day newspaper said on Tuesday.. . . Full story | ArcelorMittal South Africa, a unit of the world's largest steelmaker, said it would not proceed with a much-criticised black economic empowerment. . . Full story |
Unicharm Corp , Asia's
top maker of disposable diapers, wants to raise the local
materials procurement ratio at its overseas locations to nearly
100 percent from around 65 percent, to cope with heavy swings in
currency markets, its top executive said on Tuesday.. . . Full story | ArcelorMittal South
Africa, a unit of the world's largest steelmaker, said it would
not proceed with a much-criticised black economic empowerment
deal after its conditions were not met.. . . Full story |
Company News |
DRDGOLD announced that the Business Rescue Practitioner overseeing business rescue proceedings at its 74%-owned Blyvooruitzicht Gold Mining Company Ltd ("Blyvoor") has. . . Full story |
Moneybox has sold 49 773 Keaton shares on the open market at R2.58 per share on Friday, 23 September 2011, for. . . Full story |
Business Day reported that Anglo is taking a second crack at getting in on Western Australia's vast iron-ore deposits with a. . . Full story |
Cenrand, the South African gold mining and exploration holding company, announced that the company has received notice from the Ministry of. . . Full story | |||
Company Results | Revenue for the interim period more than doubled to R82.9 million (2010: R35.6 million). Gross profit increased to R33 million (2010:. . . Full story | Revenue increased by 8.9% to R826.4 million (R759.1 million). Operating profit was up 17.5% to R69 million (R58.8 million). Net attributable. . . Full story | Revenue for the interim period ended 30 June 2011 increased to R221 million (2010: R211.7 million). Gross profit rose to R91.6. . . Full story | The results showed that revenue increased by 38.2% to R773 million, compared to June 2010 of R559.3 million. Net attributable profit. . . Full story |
World Markets (Spot Prices)
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The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 27/09/2011 | 261 | 112 | 82 | 455 | 324,128,466 | R15,194,670,689 | 118382 | 3003265 |
| 26/09/2011 | 139 | 223 | 82 | 444 | 446,064,084 | R14,236,072,927 | 120183 | 3511827 |
| 23/09/2011 | 111 | 259 | 66 | 436 | 360,263,164 | R17,681,511,150 | 148007 | 3381375 |
| 22/09/2011 | 84 | 295 | 76 | 455 | 343,357,592 | R16,082,172,240 | 145026 | 3013650 |
| 21/09/2011 | 246 | 172 | 86 | 504 | 300,562,590 | R15,640,701,953 | 126528 | 2524242 |
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Stock Exchange News Service
| Date | Time | Headline |
| 27/09/2011 | 17:17 | ESPIBT - Investec Bank Limited - Adjustment to the issue size of ESPIBT - Equity |
| 27/09/2011 | 17:06 | Avusa Limited - Dealing in shares by a director of a major subsidiary |
| 27/09/2011 | 17:05 | Avusa Limited - Dealing in shares by an executive director |
| 27/09/2011 | 16:25 | OML - Old Mutual plc - Form 8.3 |
| 27/09/2011 | 16:21 | ACT/ACTP - AfroCentric Investment Corporation Limited - Full year audited |
| 27/09/2011 | 16:12 | Shoprite - Dealing In Securities by a Non-Executive Director |
| 27/09/2011 | 16:00 | Holdsport Limited - Unaudited interim condensed consolidated results |
| 27/09/2011 | 15:15 | BIDEN - Denel SOC Limited - Listing of New Financial Instrument |
| 27/09/2011 | 15:14 | FRS53 - FirstRand Bank Limited - Interest Rate Reset Announcement |
| 27/09/2011 | 14:59 | Drdgold Limited - Blyvoor gives notice of intention to reduce |
| 27/09/2011 | 14:50 | Kaydav Group Limited - Resolutions of the shareholders of Kaydav |
| 27/09/2011 | 14:40 | Alert Steel Holdings Limited - Results of general meeting |
| 27/09/2011 | 13:57 | CLN000141 - The Standard Bank Of South Africa Limited - Interest rate |
| 27/09/2011 | 13:51 | CLN000140 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:50 | CLN000133 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:49 | CLN000132 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:48 | CLN000128 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:47 | CLN000124 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:46 | CLN000120 - The Standard Bank Of South Africa Limited - Interest Rate |
| 27/09/2011 | 13:15 | BSI STEEL Limited - Dividend declaration |
| 27/09/2011 | 12:18 | Harmony Gold Mining Company Limited - Fatal accident at Harmony`s |
| 27/09/2011 | 11:58 | Cape Empowerment Limited - Trading statement |
| 27/09/2011 | 11:49 | Growthpoint Properties Limited - Dealing in securities by a director |
| 27/09/2011 | 11:38 | Keaton Energy Holdings Limited - Sale of shares by Moneybox Investments |
| 27/09/2011 | 11:15 | ING128 - iNguza Investments (Proprietary) Limited - Listing of New |
| 27/09/2011 | 11:11 | INL/INP - Investec Limited/Investec plc - Form 8 (DD) |
| 27/09/2011 | 11:10 | INL/INP - Investec - FORM 8 (DD) |
| 27/09/2011 | 10:41 | Telemasters Holdings Limited - Notice of declaration of cash |
| 27/09/2011 | 10:40 | TeleMasters - Unaudited condensed consolidated interim results for the |
| 27/09/2011 | 10:19 | Datacentrix Holdings Limited - Voluntary trading statement |
| 27/09/2011 | 10:00 | Illovo Sugar Limited - Investors/Analysts - Presentation / Site |
| 27/09/2011 | 09:50 | INL/INP - Investec Limited/ Investec plc - Disclosure in accordance with Rule |
| 27/09/2011 | 09:07 | Metair Investments Limited - Directors` dealings in securities |
| 27/09/2011 | 09:00 | Jasco Electronics Holdings Limited - Provisional Audited results |
| 27/09/2011 | 08:45 | Resilient Property Income Fund Limited - Dealing in securities |
| 27/09/2011 | 07:14 | Pallinghurst Resources - Release of Pallinghurst 2011 interim report |
| 27/09/2011 | 07:10 | Anglo American plc - Treasury Shares - Transfers |
| 27/09/2011 | 07:10 | British American Tobacco p.l.c.- Transaction in own shares |
| 27/09/2011 | 07:05 | CCO - Capital & Counties Properties PLC - Notification of major interests in |
| 27/09/2011 | 07:05 | Central Rand Gold Limited - Cancellation of mining right |
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