Thursday, August 16, 2018
SINGAPORE - Oil prices dropped by more than 1 percent on Tuesday, extending falls from the previous session as global financial markets tumbled lower in the wake of one of the biggest intra-day falls ever registered on Wall Street. Brent crude futures were at $66.91 per barrel at 0530 GMT, down...
The rand was firmer against the dollar on Wednesday morning, as the euro maintained its newly found momentum against the dollar. The dollar is under renewed pressure following President Donald Trump’s forceful "America First" state of the union address on Tuesday, overshadowed by a weaker close on the Dow and as bond yields...
Johannesburg.  — Sibanye Gold plans to buy Lonmin, marking the end of the smallest and most financially stressed of the world’s three biggest platinum miners. Sibanye offered £285 million (R5,17 billion) to buy Lonmin in an all-share offer, according to a statement yesterday. The deal, Sibanye’s fourth major acquisition in...
South African bonds firmed on Wednesday morning, as US treasuries and global equity markets rebounded from their recent precipitous fall. Local bonds benefited on Tuesday, but there has been some volatility in the market as internal ANC battles over the presidency continue. Reports on Wednesday suggested a nascent deal between President Jacob Zuma and ANC president...
The rand was slightly firmer on Thursday morning as the market awaited further clarity on President Jacob Zuma’s expected resignation. Business Day reported that Zuma wanted to say goodbye to the Cabinet and address the nation before resigning. The rand has weakened above R12 to the dollar again amid a lack of progress...
Business Writers The implementation of multi-billion dollar energy and telecommunications deals in Zimbabwe is under threat due to delays in the repayment of a $60 million debt to China Export and Credit Insurance Corporation (Sinosure) by Government, Business Weekly has established. Sinosure is a State-funded insurance group spearheading China’s foreign...
The JSE looks likely to trip after its run of three winning trading days on Wednesday, taking its cue from the US. The S&P 500 index started well on Tuesday, clocking 2,800 points for the first time, before stumbling to close 0.5% lower at 2,776 points. Tokyo’s Nikkei 225 index was down 0.7% on...
The rand edged lower on Tuesday morning, as the dollar appeared to stabilise after falling to a three-year low when measured against a basket of other major currencies. Traders were also keeping a close watch on local politics, which has been the primary driver of the local currency for weeks. Speculation...
Sibanye-Stillwater shares crashed to pre-listing lows on Thursday after reporting its most difficult annual results, plunging into a deep loss, with high debt and reduced cash flow forcing the company to withhold its final dividend for the first time since its debut in 2013. Sibanye’s shares fell a hefty 15.5%...
The rand was stable against major global currencies shortly before midday on Monday, amid risk-on global trade and continued positive sentiment towards SA. The rand has only been pipped by the Mexican peso in terms of the best-performing emerging-market currencies so far in 2018, with analysts saying recent political developments...