Stock Markets

Gold eased out after rising two percent riding on dollar

Gold

On Monday gold came down after rising two percent in the previous session reaching one thousand four hundred dollars per ounce but it might go up once more as investors might invest on the metal with weakened US dollar.

The price of Spot gold fell by 3.31 dollars per ounce to reach the amount of one thousand four hundred and eleven dollars and four cents as found at zero zero three three GMT. It went up to one thousand four hundred and fifteen dollars and thirty six cents on Friday with the fall of dollar following weak job data.

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Reports on Philippines Stocks

Philippines Stocks

The Index of the Philippines Stock exchange went up by 28.09, equivalent to point seven percent to hit four thousand two hundred four and fifty seven points as found around four past ten am in the morning at Manila. The index saw this rise for the fourth consecutive days which was the longest time of gains by it since another for-day race of November.

South African Stocks soared with rand gaining

South African Stocks soared with rand gaining

On Friday, South African assets witnessed gains and stocks bagged their first gains of the week in three weeks. With ECB buying euro-zone governmental bonds continuously appetite for national debt as well as rand got boosted.

Shares of African Bank Investments moved ahead with good figures of both October and November. Miners went up with higher gold prices.

The Standard Bank, the biggest lender of Africa announced that it might see a drop of as much as thirteen percent in its full year earnings and as a result the shares went down for two sessions in a row.

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Euro held on to its gains but the US data seemed risky

Euro

The euro stalled on Friday after it bounced back from its two and a half month low. It could hold back all its gains made after the announcement that the ECB will buy government bonds of peripheral nations of euro-zone lowering those yields.

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The South African currency went up to reach three -week high and stocks also went up

South Africa

The South African rand had hit its three-week high against the greenback on Thursday following euro’s gains. South African stocks also gained for two consecutive days.

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Gold touches near high but Euro debt woes linger

Gold

On Thursday Gold is at a firm position and reached almost its highest in nearly three-weeks at the previous session. This happened as worries over the euro debt crisis lingered in spite of hopes that the European Central Bank and the US will extend their help.

The Central Bank of Europe feels pressurized as it has to reveal its new steps for the stabilization of the euro zone at its meeting on Thursday. There is a fierce battle between the currency bloc and the debt crisis which has induced a contagion fear in the Asia as well as the US.

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Johannesburg stock exchange raced ahead of the European Central Bank

Johannesburg stock exchange

On Wednesday, the Johannesburg Stock exchange raced along with world equities on anticipation that the European Central Bank ECB can announce measures to thwart the debt crisis of the euro zone.

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Merger of MMI can lead to more opportunities

MMI Holdings

On its debut in the Johannesburg Stock Exchange, MMI Holdings, a merger of Momentum and Metropolitan was seen trading at sixteen rand at the closing session. It gave a market cap of eight decimal eight billion dollars.

MMI is reckoned as the third biggest life insurance firm following Old Mutual and Sanlam and has an embedded value of thirty billion rand, has staff strength of fifteen thousand five hundred with a total assets management worth four hundred billion rand.

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Markets worried over contagion in the euro zone

Johannesburg Stock exchange

There was a sharp fall noticed in the Johannesburg Stock exchange with contagion fears over the European Sovereign debt crisis lasting. It has precipitated the sell-off on the Wall Street because investors did not spend on risk assets. With the dollar getting stronger the commodity prices fell which indicated investors did not want to take risks.

The banking counters lead the broad-based trading, tumbling two percent as per the statement made by one equity dealer.

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Anglo American, Billinton declined, taking down the South African Stock

The TTSE/JSE All Share Index of South Africa fell for the third day by one decimal five per cent or four hundred and forty nine decimal eight four to reach thirty thousand two hundred and sixty six decimal four zero at the closing session of Johannesburg Stock Exchange at five pm.

The mining firm named Anglo American Plc (AGL SJ) which contribute ten percent of the index fell one decimal six percent or five decimal one one rand to amount three hundred and nine decimal nine nine rand , a third consecutive day of decrease.

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