Stock Markets

Mvelaserve did not impress on its debut

One of the outsourced business-support groups named Mvelaserve, which has revenue generation of over four billion rand made its debut on the Johannesburg Stock exchange yesterday. It is expected that it will trade in the full swing within a week’s time.

The share of the firm was quoted at thirteen decimal two zero by four pm but the quantity tat trade was a mere six thousand four hundred.

The group reported that it made its debut at fourteen decimal five zero rand.

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With rands getting weaker South African bonds also got weaker

On Monday with rand getting weaker the South African bonds also got weaker in the tune of ten basis points.

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Johannesburg Stock Exchange was not found steady

The Johannesburg Stock Exchange wavered in the late hours of Monday losing its earlier gains with equities tanking due to the lasting worries of the debt crisis of Europe. The gold index was seen stronger which indicated that people are not taking risks.

The portfolio manager at Imara SP Reid named Warren Saevitzon stated that the markets are worried, that Spain and Portugal might need to be bailed out.

He further stated that investors are not convinced that the euro zone got stable after the bail out of Ireland that is worth eighty five billion euros.

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South African equities went down courtesy BHP Billinton, Anglo American and Sasol

The FTSE/ JSE Africa All Share Index of South Africa went down by zero decimal four percent or one hundred and sixteen decimal eight four to reach the amount thirty one thousand one hundred and eighty one decimal three eight at five pm. during the closing session of the JSE. It has declined in the tune of zero decimal seven percent in the last five days which turned out to be its second week of decrease.

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Investors of Spain scared for the Dublin-bailout

It would be wrong for the investors of Spain to think the country like other financial offenders in the euro zone say Portugal, Greece and Ireland is getting battered in the bond markets as its public finances have gone haywire. These facts were given by senior Spanish Officials, market analysts and independent economists.

If it is seen in hindsight then it can be said that the Socialist Prime Minister of Spain Jose Luis Rodriguez Zapatero made mistake as he followed the international fashion at the start of the crisis a couple of years back.

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Rand goes down by one decimal nine percent against the greenback

On Friday the South African currency rand went down to hit a two and a half month low against the American dollar as investors did not go for higher risk assets apprehensive about the European loan crisis.

At around one one one three GMT the rand ZAR=D3 was found trading at a low of seven decimal one seven four zero against the greenback less by one decimal nine percent of the Thursday’s close of seven decimal zero three five zero.

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Inventories of South African Stocks

These are some South African Stocks that may see atypical price changes within the country.

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Palabora has filed an appeal against the Government

The South African copper producing company of the Rio Tinto Group named Palabora Mining Co. has appealed against a governmental decision of stripping it of some mining rights.

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Johannesburg Stock exchange closed on a higher note

On Wednesday, the Johannesburg Stock exchange closed on a stronger note after regaining composure from woes that was hovering due to the debt crisis of Europe as well as the tension that erupted in the Korean Peninsula. The market moved from gains to losses before venturing into the positive region.

According to one equity derivatives trader tensions was visible today after the fall of Dow Jones by four hundred and forty points but somehow the market could gain back its composure. He further stated that the encouraging factor was that the rally was broad based.

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South African stocks climbed up riding on SAB Miller and Anglo

South African stocks

The FTSE/JSE Africa All Share Index of South Africa went for the second consecutive days within last three days by zero decimal seven percent or two hundred and seventeen decimal four two rand to reach the sum of thirty one thousand one hundred and twelve decimal four nine found at five pm ,the closing time at Johannesburg.

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