Market Wrap

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 …

Market Wrap: JSE continues its run in the red, stronger dollar sees rand begins to retreat Read More »

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 »

We begin with a look at the rand, which traded sideways for most of the day with the local unit trading in a narrow 8 cent range. The dollar was on the front foot for most of the day but despite this, the rand had a slight strengthening bias. “This shows us that the move …

Market Wrap: Rand and commodities trade sideways, JSE starts the week in the red Read More »

The JSE closed the week in the green, adding half a percentage point to the bourse to see the All Share Index close on 75,908 points. Grindrod chief executive Martyn Wade announced his retirement at the end of the month after 14 months with the company. Chief financial officer Stephen Griffiths is set to take …

Market Wrap: JSE ends in the green, rand trades on the back foot with a stronger dollar Read More »

The JSE slumped 3.43% on Friday with global stock markets retreating amid the concerns that the war in Ukraine is escalating. The All Share Index closed on 74,734 points. Despite war concerns, the dollar has been on the front foot today while the rand continues to show resilience in the fight. The local unit is …

Market wrap: JSE battered and bruised, Rand remains resilient amid war turmoil Read More »

The JSE closed slightly lower on Thursday losing 0.19% to see the All Share Index on 77,391 points while the rand has got the bit between its teeth as it strengthens against the dollar and is trading below the R15.20/$ mark this afternoon. “Markets are slightly disconnected, as the dollar remains on the front foot …

Market wrap: JSE moves lower, Rand has fighting talk against the dollar Read More »

The JSE added 0.55% during trade on Wednesday to see the All Share Index close at 77,536 points as traders ran to safe-haven currencies like gold and the US dollar. Gold is trading over $1,930 while palladium is up 5% and trading at $2,649 with coal also on the front foot having doubled its price …

Market wrap: JSE continues to climb while traders run to safe havens Read More »