The South African Reserve Bank’s (SARB) monetary policy committee (MPC) on Thursday decided to keep the repo rate unchanged at 8%. The prime interest rate is therefore to remain steady at 11,5%. This was the third consecutive MPC meeting that no change was expected.
The JSE Securities Exchange was ensconced in firm territory, with the exception of gold shares, just after noon on Wednesday as the rand faltered off the day’s stronger levels. The positive close on United States markets overnight and the gains on European bourses assisted the JSE’s rise.
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/ 28 November 2003
The JSE Securities Exchange South Africa inched firmer in listless trade on Friday, with market activity on the subdued side as a result of the Thanksgiving holiday in the United States on Thursday. Just after noon the all-share index was 0,27% higher and the all-share industrial index was 0,43% stronger.
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/ 13 November 2003
The JSE Securities Exchange South Africa (JSE) was looking sunny at midday on Thursday, with the market higher across the board despite the firmer tone in the rand. At midday the all-share index was 1,14% stronger, the all-share industrial index added 1,02% and the resources index gained 1,8%.
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/ 12 November 2003
The JSE Securities Exchange South Africa was stuck in flat territory, albeit with a more positive bias than this morning, just after midday on Wednesday. Dealers said that direction was being determined largely by futures players, while rand strength was continuing to weigh on the downside.
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/ 11 November 2003
The JSE Securities Exchange South Africa was looking soggy at midday, with the continued strength in the rand and damp European equities weighing on the bourse. At noon the all-share index was 1,21% weaker, the all-share industrial index was 0,94% lower and the financial index slipped 0,44%.
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/ 29 October 2003
The strength on the global equities front filtered through to the JSE Securities Exchange South Africa on Wednesday, with the bourse firmly in the black at midday. Slight weakness in the currency was also lending support to rand-hedge
and resources counters.
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/ 22 October 2003
The JSE Securities Exchange South Africa was lingering in the red at midday on Wednesday, with resources and platinum counters the main culprits on the downside, although gains in gold stocks limited the overall losses. The slightly firmer rand was also weighing on many dual-listed shares.
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/ 15 October 2003
The JSE Securities Exchange South Africa held on to many of the gains made in morning, with the bourse in the black at midday on Wednesday. The market took cheer from strength in European markets, as well as the positive close in the United States overnight, although banking and financial counters were taking strain.
The JSE Securities Exchange was in firm territory by midday on Monday, taking cheer from the positive tone on European markets and the strong close in the United States on Friday. Losses in gold and platinum counters were, however, capping the overall gains.