U.S. Stocks Rebound on Earnings; Ingersoll-Rand, Home Depot Shares Advance

(Bloomberg) -- U.S. stocks rebounded from a $2.1
trillion global sell-off after better-than-forecast earnings
and takeovers eased concern that the housing slump will curb
profits.

Ingersoll-Rand Co. jumped the most in six weeks after
agreeing to sell its Bobcat machinery unit. Home Depot Inc.
jumped after Barron's said shares of the world's largest home-
improvement retailer could double in the next three years.


Read more at Bloomberg Stocks News

AT&T says 40 pct of iPhone inquirers not its clients

(Reuters) - CHICAGO, June 19 - About 40 percent of people seeking information about Apple Inc.'s soon-to-be-released iPhone are not AT&T Inc.'s wireless customers, the phone company's Chief Executive Randall Stephenson said on Tuesday.



AT&T has an exclusive agreement to sell the eagerly anticipated device that combines a cell phone with the popular iPod digital music player.


Read more at Reuters.com Market News

Ingersoll-Rand, Daimler Lead Gains in World Stock Markets by Shrinking

(Bloomberg) -- Some of the best-performing shares
worldwide this year belong to companies that are beating the
stock market by getting smaller.

Temple-Inland Inc., whose products range from paper to
loaning money, Ingersoll-Rand Co., a producer of construction
equipment and trucks, and German carmaker DaimlerChrysler AG are
leading gains worldwide as they spin off or sell units to
concentrate on more profitable businesses.


Read more at Bloomberg Exclusive News

Rand rebounds after sharp early fall

(Reuters) - South Africa's rand rebounded against the dollar on Thursday after falling Chinese stocks and risk aversion pulled it down more than two percent in early trade.

The local currency was trading at 7.04 to the greenback at 1427 GMT, 0.3 percent weaker than its previous New York close, but just off a three-month high. It had slid to a session low of 7.1650 in early Johannesburg trade.


Read more at Reuters Africa

South African Rand Trades Near Highest in Seven Weeks as Gold Price Gains

(Bloomberg) -- The South African rand traded near its highest in seven weeks as gold, the nation's single largest source of foreign exchange, touched an 11-month high, boosting demand for the currency.

The rand advanced with other emerging market currencies as prospects for higher growth boosted demand for high yielding assets. Gold accounts for about 13 percent of exports in the economy, the largest in Africa, and the rand often moves in tandem with the precious metal.


Read more at Bloomberg Currencies News

Rand tad firmer, seen trapped in ranges

(Reuters) - South Africa's rand was slightly firmer against the dollar on Tuesday, and market players saw it trading in tight ranges and taking its cue from major currencies in the absence of market moving data.

By 0625 GMT the rand stood at 7.2350 versus the dollar, about 0.2 percent firmer than its New York close of 7.2525 on Monday.


Read more at Reuters Africa

Rand gains slightly versus dollar

(Reuters) - South Africa's rand was a touch firmer against the dollar on Friday, tracking emerging market trends and also cheered in part by a lower February trade deficit, although pressure lurked from higher fuel import costs.

At 1503 the rand was at 7.2530 against the dollar, up just 0.10 percent from its Thursday New York close of 7.26. The local unit treaded a 7.23/30 during Friday's session.


Read more at Reuters Africa

Rand firms vs dollar, eyes credit, trade data

(Reuters) - The South African rand recouped some of the previous day's losses on Thursday as favourable U.S. economic data boosted emerging market sentiment, traders said.

The rand was up 0.55 percent at 7.2930 against the dollar at 1525 GMT, after dipping to 7.3385 earlier, compared to Wednesday's close of 7.3330 in New York. The local currency had tumbled by roughly 1.4 percent in the previous session.


Read more at Reuters Africa

Rand a tad weaker, to remain pressure

(Reuters) - South Africa's rand was slightly weaker against the dollar on Thursday and traders said the currency would remain under pressure if offshore selling and risk aversion towards emerging markets continued.

The rand fell more than 1.4 percent in Johannesburg's late trade as comments by U.S. Federal Reserve chairman Ben Bernanke about the uncertainty of the U.S. economic outlook prompted a sell-off of high risk assets such as the rand.


Read more at Reuters Africa

Rand steady as rumour denied

(Reuters) - South African rand steadied against the dollar on Wednesday after rumours that Iran fired at a U.S. naval vessel in the Gulf were denied.

The rand was trading at 7.2880 versus the dollar at 0755 GMT, little changed from a close of 7.2850 in New York on Tuesday. The rand weakened sharply overnight as the rumour spooked investors out of high-risk markets such as South Africa.


Read more at Reuters Africa

S.Africa forex markets unhurt by global jitters - c.bank

(Reuters) - South Africa's currency markets did not experience a huge decrease in liquidity during the global market sell-off that started in late February, central bank governor Tito Mboweni said on Tuesday.

"The average daily turnover in South African currency markets is $14-billion and we did no see a sharp drop in turnover during the sell-off," Mboweni told parliament's finance committee.


Read more at Reuters Africa

Rand softer on US economic backlash

(Reuters) - The South African rand weakened slightly against the dollar on Monday despite the greenback losing ground overseas after the release of unexpectedly worse U.S. data.

The rand was at 7.2350 against the dollar at 1515 GMT, having weakened to 7.2475 earlier from 7.21/dollar at Friday's close in New York.


Read more at Reuters Africa

Rand gains on dollar, remains under pressure

South Africa's rand clawed back some losses against the dollar on Monday, boosted by strength on global stock markets and higher metals prices, but was seen remaining under pressure ahead of key data this week.

The domestic currency was weak against the euro, the currency of its main trading partner, and not far off a 4-1/2 month low against the greenback despite paring back some of its recent losses.

The unit was trading at 7.4361 to the dollar at 1515 GMT, 0.5 percent stronger than its previous New York close of 7.4775 after bouncing between 7.5120 and 7.41 during the day.
It was at 9.8850 against the euro, just off a 5-1/2 month trough touched on Friday.

Read more at Reuters South Africa

Rand edges up on dollar, still vulnerable

South Africa's rand notched up further gains against the dollar on Thursday as global markets rebounded but remained not far off four-month lows touched a weak ago.

The domestic currency was trading at 7.4140 against the dollar, 0.3 percent stronger than the previous New York close of 7.4350.

But market watchers said the rand's gains were somewhat below par given a rebound in global equity markets from a recent slide sparked by investors dropping riskier assets for low-yielding but less risky currencies like the yen.

Read more at Reuters South Africa

Rand recovers vs dollar, eyes global trends

South Africa's rand recovered slightly versus the dollar on Wednesday after falling sharply overnight, and was likely to track global market trends as investors remained nervous about high risk currencies.

At around 1505 GMT the rand hovered around 7.4825 to the greenback after closing in New York on Tuesday at 7.5105, and having dipped to 7.5295 earlier in Wednesday's session.

Read more at Reuters South Africa

Rand little changed, seen rangebound

South Africa's rand was little changed against the dollar in late Monday trade and expected to hold in ranges while eyeing sentiment towards emerging markets and developments in crisis-torn neighbouring Zimbabwe.

At around 1515 GMT the local currency was at 7.3540, just a touch weaker from its New York close of 7.3525 on Friday.

Read more at Reuters South Africa

Rand gains over 1 pct versus dollar

South Africa's rand gained over one percent against the dollar late on Thursday as market nerves settled after a global sell-off of risky assets pushed the unit to 4-month lows earlier in the week.

Read more at Reuters South Africa

Rand slightly weaker in nervous market

South Africa's rand weakened slightly against the dollar on Wednesday, but held onto most of Tuesday's gains in a market still on edge following the global stocks sell-off of the past week.

The local currency was trading at 7.4040 versus the dollar at 1530 GMT, about 0.3 percent softer than its previous New York close of 7.3850/dollar.

Read more at Reuters South Africa

Rand bounces back

The rand bounced back against the dollar on Tuesday on firmer global markets and as the rally on the Japanese yen lost steam, but traders warned recent stock market woes may not be over.

The local currency firmed sharply in early trade before steadying at around 1.3% stronger on the day.

It was trading at R7.4234/$ at 17:45, a gain of 1.1% from its previous New York close, clawing back heavy losses after sliding to a four-month low of R7.5410 on Monday.

Read more at FIN24.co.za

Rand seen hitting 5-month lows

The rand has taken a pounding from a global markets sell-off over the past week and could slip further as investors continue to flee risky assets.

The unit would likely soften towards R7.80/US$ this week - levels not seen since a plunge in early October last year - with few positives to warrant a rebound, analysts said.

Read more at FIN24.co.za