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 »
Asian shares fell on Thursday after the rally previously in the week due to Chinese PMI data showing manufacturing and services activity contracted in March. The JSE followed the downturn, in line with many European markets. Several of them are set for the biggest quarterly drops since the start of 2020. Today’s stock market excitement …
Market Wrap: Northam Platinum Holdings down by -2.92% Read More »
The JSE continued up today following the rise of several Asian markets after Russia pledged to wind down military activity in Ukraine. However, the Kremlin today announced they saw no breakthroughs in talks and US stocks fell somewhat in the opening. The US drop also followed expectations of a further strengthening of the US economy, …
The JSE continues to rise despite high unemployment figures Read More »
The big news that Russia will withdraw some of its troops from the outskirts of Kyiv and other cities as Ukraine and Russia continue peace talks in Turkey saw emerging market currencies rally on the back of the news. The rand strengthened to R14.52/$ and could test the R14.40/$ level again. “Today’s best performing EM …
Market Wrap: Rand rallies on the back of Ukraine-Russia peace talks Read More »
Oil prices nosed dived on Monday due to fears over Chinese energy demand amid a Covid-19 lockdown in Shanghai. Oil prices have also dropped significantly on the slowdown of demand, with Brent Crude currently down 7.5% for the day. Renewed surges of Covid-19 cases have placed pressure on commodity prices with lockdowns slowing down demand …
Market Wrap: Brent down over 7%, rand remains a strong EM performer Read More »
The rand has given back some of yesterday’s gains slowly and steadily throughout the day. The local unit is now trading at R14.58/$ after opening at R14.50/$. “This weakness can be seen as a form of consolidation, and we would need to watch how the market moves next week for further direction. Other EM’s have …
The rand broke below the R14.70/$ level for the first time since October 2021 and continued its onward march to settle below the R14.60/$ mark, where it is currently trading. “The rand has gained just over 1.3% for the day against the dollar and is currently the second to the Brazilian Real for the strongest …
Market Wrap: Resilient rand continues to show its muscle Read More »
Chinese tech firm Tencent posted its slowest growth since 2004 with revenue only increasing by 8% for the three months to end-December, the first-time quarterly growth has been in the single digits, reports Bloomberg. Tencent has lost more than $470 billion since its peak in 2021, Naspers (-9.45%), which is Tencent’s largest shareholder slumped 5% …
Market Wrap: Naspers slumps nearly 10% amid poor Tencent results, JSE down over 1% Read More »
The rand rallied to its highest level since October, reaching R14.82/$ in the afternoon. The move by the local unit is in line with how other emerging market currencies are performing with attractive bond yields and rotation into bond markets further away from the Russia-Ukraine war the likely reasons, comments TreasuryONE. The rand has performed …
Market Wrap: Rand moves to highest level in months and tests R14.80/$ mark Read More »
