Thursday, 29 December 2011 - 20:00
S.Africa rand firms within range vs dlr, 8.10 holds
JOHANNESBURG (Reuters) - South Africa's rand firmed against the dollar on Thursday with fewer importers around to buy dollars towards year-end but decent two-way trade left 8.10 resistance intact.
The currency traded in a 10 cent range between 8.12 and 8.22 per dollar in Thursday's session. It attempted 8.10 in the previous session but failed to break through that level.
If the rand manages to strengthen past 8.10 -- a level attempted in the past week and in November -- 8 rand forms the next area of resistance.
The currency is likely to end on the weaker side of 8 this year but with a firmer bias as importers stay out of the market at the end of the year.
"I would also say that traders are happy where the rand is at the moment. The big risk sell-off that saw USD/ZAR hit 8.6100 may have been seen as a bit extreme, so players are just sitting and waiting to see what happens," said Christopher Shiells, an emerging markets analyst at Informa Global Markets.
"(However) they have not turned bullish on the rand and want to be able to get back on the dollar if risk comes off again sharply in 2012, whilst at the same time, long term most people think the rand is due a rally, perhaps later in 2012."
The dollar has gained about 23 percent on the rand this year and while Europe's debt problems are unresolved, the local unit is likely to remain under selling pressure early in the new year.
South Africa's trade account showed an 8 billion rand deficit in November compared with a 9.6 billion rand shortfall in October, a report showed during the session.
The account is seen posting more deficits in coming months as demand for local exports from the European market wanes.
Government bonds closed the session mixed but had made only slight moves in an illiquid session.
The yield on the four-year government bond ended at 6.75 percent from 6.745 percent previously, while the 2026 yield was at 8.50 percent from 8.505 percent on Wednesday.
The market officially closed at 1000 GMT in holiday-shortened trading hours.
Thu, 29 Dec 2011
First Uranium Corporation announced that in connection with the continuous disclosure obligations under the rules of the JSE , Mine Waste Solutions (Pty) Ltd ("MWS")issued its unaudited interim abridged consolidated financial statements (the "Financial Statements") for the six month period ended. . .
Shareholders were advised that the company's 2011 integrated annual report containing the annual financial statements for the year ended 30 September 2011 was posted to shareholders on 29 December 2011 and contains no modifications to the audited preliminary results which were. . .
The results include the SIC 12 consolidation of Solethu Civils. Revenue increased to R226 million (R157.4 million) and gross profit rose to R63.1 million (R46.8 million). A net attributable loss of. . .
Revenue fell to R393.7 million (R405.1 million), while operating profit decreased to R27.3 million (R33.3 million). Profit for the year was down to R22.1 million (R27.9 million). Earnings per share fell. . .
The company reported an operating loss of R1.1 million (profit of R2.4 million), but profit attributable to ordinary shareholders rose to R4.6 million (R2.5 million). Headline earnings per share improved to. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||28486.53||-113.47||-0.40%|
|JSE Indust 25||17:00||28847.51||-44.03||-0.15%|
|Rand / Dollar||19:59||8.1811||-0.0178||-0.22%|
|Rand / Pound||19:55||12.5540||-0.0986||-0.78%|
|Rand / Euro||19:55||10.5850||-0.0325||-0.31%|
|Rand / NZD||19:58||6.3057||0.0076||0.12%|
|Rand / AUD||19:55||8.2863||-0.0075||-0.09%|
|Yen / Dollar||19:59||77.7020||-0.2370||-0.30%|
|Euro / Dollar||19:55||0.7724||-0.0003||-0.04%|
|Dollar / Euro||19:59||1.2942||0.0001||0.01%|
|Pound / Dollar||19:55||0.6496||0.0027||0.42%|
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Latest Consensus Changes**
|KIO||KUMBA IRON ORE LTD ||HOLD||21 Dec|
|GRT||GROWTHPOINT PROPERTIES LI...||HOLD||20 Dec|
|SOL||SASOL LIMITED||BUY||20 Dec|
|ALT||ALLIED TECHNOLOGIES LIMIT...||HOLD||20 Dec|
|TRU||TRUWORTHS INTERNATIONAL L...||HOLD||20 Dec||
|Expected||Company Name||Fin. Date|
|NAMPAK 6.5||11-12-08||12-01-20||12-01-30||R 0.0650|
|NAMPAK 6%P||11-12-08||12-01-20||12-01-30||R 0.0600|
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