The rand slipped further today against the US dollar breaking through the R15.00/$ barrier and trading at R15.04/$ when the local inflation numbers were released. Inflation came out better than expected this morning at 5.9% year-on-year versus the 6% that was expected by economists. The inflation numbers are still higher than in March though, which …
Market Wrap: Rand breaks through R15.00/$ level, JSE loses 0.06% Read More »
Following the long weekend, the JSE spent the day in the green and by the close of the first local trading session of the week, the bourse added 0.61% with the All Share Index at 73,830 points. The bourse opened in the green, facing mixed Asian markets and had gained 0.9% at one point in …
Market Wrap: JSE adds over half a percentage point, Rand rises to just under R15.00/$ Read More »
Traders cheered the recovering Asian markets during morning trade with Tencent, which can often give the JSE direction through Naspers and Prosus’ stake in the Chinese tech giant, which is up 0.21% for the day. The bourse firmed during morning trade “along with its global peers as the focus remained on inflation and the response …
Market Wrap: JSE breaks losing streak to bring some Easter cheer Read More »
The JSE extended its losses for a third successive trading session and is yet to close in the green this week. The bourse lost a further 0.91% today with the All Share Index at 73,129 points Sasol said it would no longer consider a planned gas supply pipeline stretching from northern Mozambique to South Africa …
Market Wrap: JSE in the red again, Sasol no longer interested in gas pipeline Read More »
US inflation came out at 8.5% year-on-year, slightly higher than the 8.4% that was expected while the month-on-month increase was in line with expectations at 1.2%. The rand did not react much to the news and was trading at around R14.55/$ at the time of the announcement this afternoon. Since the release of the data, …
In the currency markets, the rand tracked stronger during the day after the local currency was under some sustained pressure for most of last week. The local unit is currently trading at R14.59/$. “We are still currently trading in a wider R14.40/R14.80 band and could continue to hover between these levels, with dips towards and …
Market Wrap: Rand trades below R14.60/$, JSE starts the week under half a per cent lower Read More »
The JSE snapped its four-day losing streak and closed the final session of the week by adding 1.04% with the All Share Index at 74,776 points. Telkom shares added 1.03% after the telecoms company said it had reached an out-of-court settlement in its litigation with the Independent Communications Authority of South Africa (Icasa). The pair …
Market Wrap: JSE finally closes in the green, rand looks to stay below R14.70/$ Read More »
The JSE continued its losing streak on Thursday, closing in the red for a fourth consecutive session, losing 0.47%. The All Share Index is sitting at 74,008 points. Supermarket retailer Pick ‘n Pay surged 5.84% today after recently posting a 5% increase in sales growth for the year ended February 2022. The retailer’s clothing business …
The JSE extended its run of losses into a third successive session with the All Share Index losing 1.23% to close on 74,359 points Prosus (-6.09%), Richemont (-5.72%), Naspers (-6.34%) and Amplats (-3.87%) were some of the biggest losers today. SA’s richest man, Johan Rupert, who is chairman of and owns a controlling stake in …
Market Wrap: JSE extends losing run, rand fights back at R14.64/$ Read More »
The rand traded in a fairly narrow range for most of the day before rapidly losing ground against the dollar, comments forex trading house TreasuryONE. “Hawkish commentary by both Kansas Fed President Esther George and Federal Reserve Governor Lael Brainard gave the dollar fresh momentum. This is the first time in some while we saw …
Market Wrap: Thugela surges nearly 10% as EU plans to ban coal imports from Russia Read More »
