The South African rand was slightly stronger against major currencies in early trade on Monday, continuing a move that began on Friday afternoon when the local unit failed to sustain a move weaker that started on the back of poor preliminary current account figures.
The JSE Securities Exchange (JSE) was flat just before noon on Friday after a lacklustre day on which the bourse looked to the rand for direction. Volumes were fairly thin as players paused for breath after the market’s strong run on Thursday, which saw it surge 1,81%.
The JSE Securities Exchange (JSE) was powering ahead in noon trade on Thursday, fuelled by expectations of renewed rand weakness and a higher gold price. Strength was seen across the board, with advancers outnumbering decliners on the all-share index by almost three to one. Only two shares on the Top 40 index failed to post gains.
After opening lower on the back of a stronger rand, the JSE Securities Exchange (JSE) was off its worst levels in noon trade on Wednesday due to an easing in the currency. Volumes were reasonable, with more than R1-billion-worth of shares changing hands in morning trade.
The JSE Securities Exchange (JSE) was in positive territory just before midday on Monday, thanks to strong performances by heavyweight resources stocks. However, the gains came on low volumes with just more than R700-million-worth of shares changing hands.
The JSE Securities Exchange (JSE) remained in the black, but was off the boil, in noon trade on Friday on the back of a modest recovery in the rand. However, demand was still being seen for resources stocks, which benefit most from a softer currency. By 11.52am, the all-share index was up 0,32%.
After getting off to a good start on the back of a softer rand and stronger United States markets overnight, the JSE Securities Exchange (JSE) was off the boil in noon trade on Wednesday due to weaker European markets and US futures and the currency recovering from its worst levels seen earlier in the morning.
After opening deep in the red on the back of a stronger rand, the JSE Securities Exchange (JSE) was well off its worst level in noon trade on Tuesday, after importer demand for dollars saw the currency lose ground. Volumes were reasonable, with just under R1-billion-worth of shares changing hands in morning trade.
The JSE Securities Exchange (JSE) was roaring ahead in noon trade on Tuesday, with a softer rand sparking demand for heavyweight resources stocks. Positive sentiment spilled to the rest of the market and advancers outnumbered decliners on the all-share index by about three to two and on the Top 40 index by about three to one.
The JSE Securities Exchange (JSE) was in negative territory just before midday on Monday, with a firming in the rand sparking profit taking after the bourse’s strong run last week. Weakness in world markets on concerns about possible terrorist attacks on United States financial institutions, as well as a higher oil price, further dampened sentiment.