Stock Markets

Rand got weaker versus the dollar with stocks remaining flat

Rand

On Monday the South African currency, rand moved marginally against the dollar staying mostly at the weaker side similar to euro. The stocks also remained flat mostly highlighting another lackluster session.

Rand saw a decline of zero decimal two nine percent from the closing price of Friday and closed at six decimal nine eight five zero. The currency touched an intra day low of seven decimal zero one nine zero against the dollar before standing at seven decimal zero zero five zero at one five four zero GMT.

Euro continues to fall

Euro

On Tuesday the euro once again got pressurized in Asia with political unrest in Ireland and woes of other adjacent euro zone countries wiped out the initial optimism of Ireland’s bailout program.

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Philippine Nickel Asia went up by twenty seven percent in its debut

Philippine Nickel Asia went up by twenty seven percent in its debut

The biggest nickel miner of Philippine, Nickel Asia saw nineteen pesos as the opening price of its shares on Monday. It is almost twenty seven percent more than the IPO prices of fifteen pesos.

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With dollar declining Copper prices have gone up

dollar

With dollar weakening against other major currencies, In London copper could move ahead and thus the investment appeal of the metal rose. Metals like Zinc and aluminum also climbed up.

With Euro zone crisis fading out oil went up above eighty two dollars

oil prices

On Monday the oil prices went up above eighty two dollars per barrel. It bounced back after facing losses in two consecutive weeks.

GM’s reentry to the Wall Street might boost IPO markets

General Motors has re entered the arena of the Wall Street smoothly and highlighted its resurgence which might be good for the IPO markets in their revivals.

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Details of South African equity market

The South African FTSE/ JSE all-share index lost three hundred and ninety six decimal nine three which is one decimal three percent to reach the amount of thirty one thousand four hundred and nineteen decimal six eight found at the closing session of the JSE at around five pm.

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JSE saw a good turnaround on Wednesday noon

On Wednesday the JSE opened on a weaker note as precious metals and resources fell due to the recovery of dollar. But the stock exchange made a fantastic turnaround in the noon session

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Clover, the dairy food manufacturer plans to raise five hundred million rands

The South African dairy foods manufacturer Clover has plans to list the firm in the stock market had plans to raise a sum of five hundred million rands for expanding its company as well as for the repayment of its debt. Johann Vorster, the CEO of the firm reported these facts, yesterday.

Clover is the maker of the brand Tropika juices. Clover had planned not to sale over -the counter shares of the firm as it wanted to list the company in the main board of the Johannesburg stock exchange.

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Gold had dragged down the Johannesburg Stock exchange

Yesterday the close of the Johannesburg stock Exchange was not good as it saw a sharp decline as it was dragged down by prices of gold and resources and global weaknesses also weighed it down.

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