Stock Markets

Rand falls against dollar

Rand

The South African currency Rand was reported to be weak when compared to the dollar in the Wednesday trade. It is speculated that the value of the Rand against the dollar will remain vulnerable owing to the political crisis going on in Egypt. The crisis in Egypt is definitely having an impact on the market. At 6:38(GMT) the value of rand traded was at 7.13 against the dollar which was a bit lower than the closing level on Tuesday which stood at 7.1155.

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South African bonds and Rand decline

Rand currency

According to the reports on Monday the government bonds of South Africa along with its Rand currency declined to a multi month low. One of the reasons for the fall being pointed out is the political uncertainties that have created unrest in Egypt, due to which the investors are restraining from the risky assets. It was the second consecutive day that the stocks fell and also construction firms like Pretoria Portland Cement took a hit owing to their poor earnings. The earnings on the government bonds saw a rise thereby forcing the prices lower.

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American economy grows by 3.2 percent in the final quarter of 2010

American economy

American economy grew by an annual rate of 3.2 percent in the final quarter of 2010, partly encourage by exports and personal consumption as reported by the Commerce Department on Friday.

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News of South African Stocks

News of South African Stocks

The All Share Index of South Africa's FTSE/JSE broke two days of gains, declining 595.49, or 1.9 percent, to 31,543.05 as seen at five pm close in Johannesburg, taking its fall in this week to 1.9 percent.

The largest gold mining company of Africa Anglo Gold Ashanti Ltd. (ANG SJ) dipped down the most in three days, falling two rand and twenty five cents or 0.7 percent, to 309.70 rand. The company stated that it closed its Siguiri mine in Guinea for two days earlier in this week after a protest started.

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South African bonds on the rise

South African bonds on the rise

As per the government report in South Africa the bonds of the country rose for the third time in a span of four days. The report showed an inflation of producer price while the biggest economy of Africa eased out for the four consecutive months. The benchmark of security of September 2015 which was expected to be at 13.5 percent showed a rise of about 2 cents and reached 121.92 rand.

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Rand pushed lower by the Dollar purchase made by the central bank

Rand

South African Rand fell today as an effect of the central bank buying dollars. This came as an implementation of what central Bank earlier said that it will be building foreign reserves whenever it feels the situation appropriate. The Rand almost touched down on the 8-week low mark due the intervention by the central bank. According to sources the central bank’s purchase of dollar pushed the Rand as low as 7.1205.

Johannesburg Stock Exchange declines on United Kingdom’s domestic gross product data

Johannesburg Stock Exchange

The Johannesburg Stock Exchange ended in the red on Tuesday, following a weaker FTSE after data showed that the UK's economy declined for the first time in more than one year, in the fourth quarter of 2010.

At 17:00 local time, the all share index of JSE fell by 0.67%, with resources trading 1.24% lower, platinum miners 2.03% less while gold miners had to give as much as 2.69%.

Financials gave up 0.40% while banks lost 0.09% and industrials declined in the tune of 0.22%.

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Gold sinks to 7-week low on Europe debt hopes

Euro currency

The value and the price of gold fell to a lowest price in seven weeks based on the speculation that EU leaders would actually stabilize the economy of the region thus eroding all the appeals of metals as haven. The Euro currency was headed for the largest currency gain as opposed the dollars since May 2000.

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Platfield debuted poorly in the JSE

Platfield debuted poorly in the JSE

Platfield, the junior metal exploration firm did not do well on its debut in the Johannesburg Stock Exchange as its share prices plunged because of the uncertainty seen amongst its possible investors.

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Shares in Hong Kong went up riding on Developers

Hong Kong

The Hang Seng Index went up to reach is highest level in two weeks with the rise of Hong Kong stocks after increment in commodity prices. It also happened as the Fed chairperson Ben S Bernanke said that the Fed might go for further purchase of treasuries.

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