Canada's Dollar Strengthens as Crude Oil Prices Rise to Highest in a Year

(Bloomberg) -- Canada's dollar rose for the first
time in five days as oil prices soared to the highest in a year,
boosting the currency's appeal.

The currency also benefited as equity markets worldwide
rebounded as concern eased that tighter credit standards will
slow growth. The currency is on pace for a sixth straight
monthly increase, fueled by higher prices of the nation's main
commodity exports. Commodities account for about half of
Canada's exports.


Read more at Bloomberg Currencies News

Gold rallies from 3-month low

(Reuters) - However, traders said sentiment for gold was weak and nervous, noting it was trading at a level some 2 percent below the 100-day moving average of about $664.




"Gold is walking a very thin tightrope," said Akira Doi, director at Daiichi Commodities Co. Ltd.


Read more at Reuters.com Hot Stocks News

Canada's Dollar Approaches 30-Year High on Outlook for Rates

(Bloomberg) -- The Canadian dollar approached a 30-
year high against the U.S. currency on speculation the Bank of
Canada will boost interest rates as soon as next month.

Canada's currency has advanced 8 percent against the U.S.
dollar this quarter as an accelerating economy pushed the
nation's two-year bond yield to a five-year high. An increase in
the price of crude oil added to the currency's rally today.
Commodities account for 54 percent of Canada's exports.


Read more at Bloomberg Currencies News

S.African stocks slide to lowest level in six weeks

South African stocks spiralled down to the lowest levels in six weeks on Monday, hit by a global rout in stocks and tumbling metals prices.

After a one-day respite on Friday when stocks bounced, the bourse got pummelled again on Monday on worries about growth in China and the United States.

"This is just across the board selling. It is not a stock specific story, this is a global equities story. Guys are just like rabbits in the headlights at the moment," Tubby Goodwin at Investec Securities said.

The JSE Top-40 blue chip index slid 2.5 percent to 22,416.21 points, the lowest since January 19, while the broader All-Share index shed 2.51 percent to 24,919.46 points.

The Top-40, which had gained 7.6 percent since the start of the year before the slide began last Tuesday, is now down 0.8 percent.

Read more at Reuters South Africa

Gold flat; mood bullish after heavy fund buying

Gold was little changed on Thursday, with sentiment remaining bullish after it surged more than 3 percent to a nine-month high as strong energy prices and geopolitical tensions induced heavy fund buying.

Traders were eager to test the metal's upside after Wednesday's rally, with demand rising for gold exchange-traded funds (ETF) and investors keen to diversify into gold and other commodities as U.S. equity prices were holding near record highs.

Gold's allure as a tool to hedge against inflation also rose after a surprisingly big pick-up in core U.S. consumer prices in January.

Read more at Reuters South Africa

U.K. Stocks Pay Europe's Highest Dividends, Fail to Lure Buyers

Stock investors who hunt for high yields in Europe are looking everywhere except the U.K., where companies pay the biggest dividends in the world's major markets.

Britain's FTSE 100 Index is lagging behind the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, for a third year. The pound's 13 percent rally against the dollar in the past 12 months and rising interest rates are weighing on earnings and share prices.

The slowdown in profit growth is enough to deter money managers even though FTSE 100 companies' dividend payments relative to share prices are 16 percent higher than those in the 13 countries sharing the euro, according to data compiled by Bloomberg. Dividends for the FTSE 100 are two-thirds more than those of the Dow Jones Industrial Average in the U.S. and are almost quadruple those of Japan's Nikkei-225 Stock Average

Read more at Bloomberg.com

ARM outlook rosy

African Rainbow Minerals Ltd (ARM) said higher metal prices boosted headline earnings per share fourfold to 264c in the first half to end December and forecast strong earnings ahead.

The diversified mining group said on Tuesday higher prices for platinum, nickel, iron ore, manganese and its coal unit had driven headline EPS from 64c a year ago, but exploration and rising corporate costs had watered down the gains.

ARM saw more price gains in the second half of its financial year. "Our operations will continue to be favourably impacted by the current buoyant commodity cycle," it said in a statement.

Read more at FIN24.co.za

Africa's ARM H1 EPS up fourfold to 264 cts

South Africa's African Rainbow Minerals Ltd (ARM) said higher metal prices boosted earnings per share fourfold to 264 Sth African cents in the six months to end December from 64 cents a year ago.

The diversified mining group said on Tuesday it had seen higher prices for platinum, nickel, iron ore, manganese and its coal unit, although exploration costs and rising corporate costs had somewhat reduced the earnings.

Read more at Reuters South Africa

FTSE up as commodities and broker upgrades boost

The FTSE 100 of Britain's leading shares was up 0.5 percent on Friday buoyed by commodities and a flurry of broker upgrades following a busy day of results in the previous session.

U.S. crude oil prices rallied above $60 a barrel for the first time in a month, extending a $2 gain a day earlier, on signs of falling crude exports from producer group OPEC and an outage at a U.S. oilfield. Oil heavyweights BP added 1 percent and rival Royal Dutch Shell tacked on 0.6 percent.

Oil explorer Cairn Energy was up 0.7 percent after it said Cairn India had won an interest in two new offshore exploration blocks in India.

In other commodity stocks, base and precious metal prices remained firm helping to push mining stocks higher. BHP Billiton added 1.1 percent, Anglo American climbed 1.2 percent and Xstrata was up 1.3 percent.

Read more at Reuters South Africa

Truth and rumours

Recent woes at London-based hedge fund Red Kite - whether truth or rumour - have taken the shine off a number of commodities, but the market jostling may be concealing a secular change in fundamentals. If so, investors would need to closely examine the implications for innumerable listed metal and commodity stocks.

Commodities in general cruised into a protracted bull market early in 2002, in parallel with the dollar's entry into a longer-term bear market. For years, resources stocks have been the leaders on global equity markets, based on robust world economic growth, China's voracious demand for raw materials, and helpful supply-demand idiosyncrasies within each commodity market, ranging from crude oil to uranium.

Read more at MoneyWeb.co.za

S.Africa looks to bolster mining exploration

South Africa may introduce "flow-through shares" to bolster flagging mining exploration, the chief economist at the Chamber of Mines told parliament on Wednesday.

The possible new rules would allow junior companies to issue shares which enable investors to get a tax deduction for the expenses of an exploration company.

Mining contributes about 6.2 percent to South Africa's gross domestic product, with export earnings generating some 145 billion rand to Africa's biggest economy.

But the sector is recovering from a rocky patch which saw investment in local mining decline despite a commodity boom and an increase in global exploration expenditure.

Read more at Reuters South Africa

BHP posts record profits

The world's biggest miner BHP Billiton on Wednesday reported a record first-half profit of $6.168bn, and said it expected China to continue to drive global demand for commodities.

The result was a 41.3% increase on the $4.364bn posted for the same period the previous year, the Anglo-Australian company said.

Strong demand, high commodity prices and solid production had allowed the company to achieve record results in all key earnings measures, it said.

Read more at FIN24.co.za

S.African shares up on metal, oil prices; banks shine

South African blue chip stocks raced to a fresh peak on Tuesday as mining and energy shares surged on a sharp rally in commodity prices, while the rest of the market was buoyed by strong global markets.

The Top-40 index of blue-chip stocks rose 1.48 percent to a record 23,428.54 points while the All-share index jumped 1.28 percent to 25,933.81 points -- close to its best ever level

Read more at Reuters South Africa

Record 2006 profit for Rio

Anglo-Australian mining giant Rio Tinto on Thursday announced a 43% jump in in full-year net profit to a record $7.44bn and forecast continued strong demand for commodities.

The figure was slightly higher than market forecasts for $7.4bn and compared with the $5.22bn net profit notched-up in 2005.

Rio Tinto shares in mid-day trade in London were showing a 0.92% gain at 2 745 pence.

Read More at FIN24.co.za

FTSE boosted by Fed, commodities and results help

The index of Britain's leading shares soared 1.4 percent on Thursday after the Federal Reserve kept rates steady, with commodity stocks and a flurry of corporate news and results supporting the upside.

On Wednesday, the Fed held interest rates at 5.25 percent and said recent data suggested "somewhat firmer" growth, adding that there were signs of stabilisation in the U.S. housing market.

At 1201 GMT the FTSE 100 was up 85.7 points, or 1.4 percent at 6,288.3 with all stocks in the blue.

Read more at Reuters South Africa

Oil pauses at $54 after OPEC export rise weighs

Oil steadied at $54 a barrel on Tuesday as traders balanced an expected rise in U.S. crude inventories and signs of OPEC producers lifting March output with forecasts for lower distillate fuel stocks after a cold snap.

The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.

Read Full Article at Reuters South Africa

FTSE down as commodities and Wall St drag

The FTSE 100 of Britain's leading shares was down 0.4 percent on Friday, dragged lower by commodities and after U.S. stocks fell sharply following weaker payroll and existing homes sales figures on Thursday.

With U.S. crude oil prices at below $55 after a 2 percent fall the previous day, heavyweight oil stocks dragged the FTSE 100 down. BP and Royal Dutch Shell both dipped 0.5 percent.

Mining stocks also featured on the downside, on economic worries and falling base and precious metals. BHP Billiton dropped 1.5 percent, Rio Tinto fell 1.4 percent and Kazakhmys lost 1 percent.

Read Full Article at Reuters South Africa

Where the managers are investing

Where are South Africa's top fund managers investing? And what are they saying about commodities, the rand, the local property market and the country's prospects in general? Five top fund managers detail their investment strategy.

Read Full article at mymoney.iafrica.com

Resources fuel JSE's record run

The JSE remained rampant in noon trade on Wednesday, having roared to a record high on the back of higher commodity prices and positive world markets.

By 12:11, the all share index was up 1.13% at 25 386.79 after reaching an all-time high of 25 438.49. Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively. Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.

Read the Full article on FIN24.co.za

JSE sets new record

The JSE has roared to another record high, fuelled by higher commodities prices and positive world markets.

Read Full article at FIN24.co.za