Daily Wrap : 3 March 2008 | The Rand Today

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Monday, 3rd March 2008 at 9:25 pm

Daily Wrap : 3 March 2008

The Rand was steady towards the end of the day after getting close to the R8/$ mark, although it continues to soften against the major currencies. At 15:45 the Rand was bid at R7.883 to the dollar, R11.9704 to euro and R15.6462 to the pound. It is important for the Rand to stay below the R8 mark as chances are that if it breaches this mark, we could well see the Rand head towards the R9 mark during the year.The JSE closed on a low note today, finishing 0.14% lower. The JSE’s Bank index was down 3.77%, Financials lost 2.32% and Industrials were also down by 0.93%. Resources were up 1.13%, the Platinum mining index surged up 4.22% and the Gold mining index was 4.27% in the positive. The JSE was in the red today largely due to weaker global equity markets. Not even the positives experienced by the resources and mining stocks could save the JSE from closing in the red.

The price of gold reached a record high today of $989.54 an ounce as the precious metal continues to surge towards the $1 000 mark. Platinum is also on the up and reached the $2 211 an ounce mark.

Daily Wrap : 11 March 2008
The JSE ended in the positive today with the all share index closing 0.33% positive. This was in line with overseas markets. The banking stocks were ...
Daily Wrap : 12 March 2008
Today was a good day for the JSE with the all share index closing 1.65% higher. A combination of factors resulted in the JSE closing on the up: Resour...
Daily Wrap : 7 March 2008
The Rand was bid at 7.9300 to the dollar at 17:40 today from its previous close of 8.0510 and an intraday worst level of 8.0675. The JSE closed in ...

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