Thursday, 05 January 2012 - 20:00
S.African rand slips to two-week low vs dollar
JOHANNESBURG (Reuters) - South Africa's rand hit a two-week low against the dollar on Thursday, dropping through key levels and weakening along with other emerging market currencies as investors cut back on risky assets.
The rand fell 1.5 percent to 8.2490 against the dollar in the local session, its weakest since December 22. Dealers said the currency's weakness was somewhat exaggerated by the lack of players in the market.
"A relatively quiet day although a fairly wide range (with) the rand broadly tracking risk sentiment as we saw a risk selloff earlier this morning," said Duncan Howes, a currency trader at Absa Capital.
The rand got a brief lift on better-than expected employment numbers out of the United States before concerns about Europe overtook the market again.
"The euro remains under pressure with a stronger dollar so I think the focus will definitely be on unemployment numbers tomorrow (Friday) from the United States," Howes said.
The rand might find it hard to weaken past 8.28, its previous low, Howes said.
Government bonds were slightly weaker, with the yield on the 2015 bond edged up 1.5 basis points to 6.865 percent, while the 2026 yield added 2.5 basis points to 8.66 percent.
Thu, 05 Jan 2012
South African stocks closed lower on Thursday for the first time in four days, with the Top-40 index falling more than 1 percent, dragged down by blue-chip telecoms firm MTN and gold miners.
Erratic rainfall has delayed planting of Zambia's staple maize crop that feeds the impoverished southern African nation, raising the possibility of a poor harvest after several bumper seasons, the agriculture minister said on Thursday.
Stocks and the euro slid
on Thursday on persistent worries about the European debt
crisis, even as service-sector gains and better-than-expected
jobs data in the United States boosted hopes for the recovery in
the world's biggest economy.
Bomb attacks in mainly Shi'ite Muslim areas of Iraq killed at least 73 people and wounded scores on Thursday, police and hospital sources said, raising fears of an increase in sectarian strife.
Foreign Secretary William Hague welcomed a pledge by Myanmar on Thursday to continue reforms and release more political prisoners, saying such progress, if sustained, would lead to deeper economic and political ties with the West.
South Africa's rand was on the back foot against the dollar on Thursday after shedding as much as 1.6 percent the previous session, with euro zone debt worries rekindling aversion towards emerging market assets perceived as carrying higher risk.. . .
Old Mutual announced the appointment of Ian Gladman as group strategy director. Ian will assume responsibility for group strategy from Don Hope, who had indicated that he would like to retire. . .
In compliance with the JSE Listings Requirements participatory interest ("PI") holders were advised that Emira has entered into a repurchase programme to repurchase PIs during its closed period. This period commences. . .
Fiuranium announced that it has received official notification that the South African Water Tribunal has dismissed the appeal lodged by the FSE against Mine Waste Solutions' Water Use Licence. The ruling. . .
Revenue increased to R6.5 million (R5.7 million). Gross profit more than doubled to R4 million (R1.6 million). Net attributable profit came in at R0.7 million (loss of R6.6 million). In addition, headline earnings per share of 0.14c (loss of 6.74cps) was recorded.
Notice of AGM
John Dan will effect delivery of its integrated annual report by post to all "certificated" and electing "dematerialized" shareholders, respectively, before 31 December 2011. Attached to the annual report is. . .
World Markets (Spot Prices)
|JSE Top 40||17:00||29058.39||-308.53||-1.05%|
|JSE Indust 25||17:00||28957.59||-259.29||-0.89%|
|Rand / Dollar||19:59||8.1669||0.0353||0.43%|
|Rand / Pound||19:55||12.6218||-0.0415||-0.33%|
|Rand / Euro||19:55||10.4493||-0.0706||-0.67%|
|Rand / NZD||19:58||6.3749||-0.0269||-0.42%|
|Rand / AUD||19:55||8.3820||-0.0443||-0.53%|
|Yen / Dollar||19:59||77.1430||0.4180||0.54%|
|Euro / Dollar||19:55||0.7815||0.0088||1.14%|
|Dollar / Euro||19:57||1.2793||-0.0143||-1.11%|
|Pound / Dollar||19:55||0.6453||0.0050||0.78%|
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The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||32,155.95||-219.60||-0.68%|
|Oil & Gas ||29,270.92||-544.10||-1.82%|
|Oil & Gas Producers ||15,738.43||-292.56||-1.82%|
|Basic Materials ||29,054.86||-404.42||-1.37%|
|Forestry & Paper ||11,934.65||-108.01||-0.90%|
|Industrial Metals ||30,897.75||-165.14||-0.53%|
|General Industrials ||82,150.87||649.89||0.80%|
|Consumer Goods ||29,909.26||-24.77||-0.08%|
|Automobiles & Parts ||4,682.90||97.37||2.12%|
|Health Care ||36,032.29||-152.50||-0.42%|
|Index Name||RP||Move||% Move|
|Food Producers ||55,681.57||-302.22||-0.54%|
|Personal Goods ||421.58||-2.89||-0.68%|
|Consumer Services ||58,414.16||-71.08||-0.12%|
|General Retailers ||49,246.84||-113.79||-0.23%|
|Travel & Leisure ||3,673.69||-29.34||-0.79%|
|Support Services ||2,213.05||-5.48||-0.25%|
|Non-life Insurance ||34,482.21||-193.99||-0.56%|
|Life Insurance ||18,083.93||87.09||0.48%|
|General Financial ||2,103.27||-21.98||-1.03%|
|SHARIAH TOP40 ||3,101.85||-55||-1.75%|
|FTSE/JSE SHARIAH ALL||3,175.29||-51||-1.57%|
|FTSE JSE Fledgling ||4,840.24||23||0.47%|
|FTSE/JSE Alt X ||1,260.00||13||1.04%|
|SA LISTED PROPERTY ||393.87||0.11%|
|CAPPED PROPERTY ||320.49||-0.22%|
|FTSE/JSE RAFI 40||6,781.05||-59||-0.87%|
|Capped Top 40||15,284.78||-157||-1.02%|
|Capped All Share||16,473.71||-150||-0.90%|
|JSE TABACO ||4,914.26||-7||-0.14%|
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Latest Consensus Changes**
|APN||ASPEN PHARMACARE HLDGS||HOLD||29 Dec|
|TSH||TSOGO SUN HOLDINGS LIMITE...||BUY||29 Dec|
|GRT||GROWTHPOINT PROPERTIES LI...||HOLD||29 Dec|
|SOL||SASOL LIMITED||BUY||29 Dec|
|ALT||ALLIED TECHNOLOGIES LIMIT...||HOLD||29 Dec||
|Expected||Company Name||Fin. Date|
|09 Jan 2012||ARROWA||September 2011 (Final)|
|09 Jan 2012||ARROWB||September 2011 (Final)|
|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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