Current Market News

Economists say hard-pressed motorists can still expect a substantial cut at the fuel pumps next month, but the cut will be slightly lower than previous expectations. Thebe Securities economist Elize Kruger says the petrol price is likely to drop by 95 cents a litre.

The Congress of South African Trade Unions says a critical look at judges and the way they operate should not be seen as an attack on the judiciary.

The Federal Reserve does not accept auction-rate securities issued by closed-end funds as collateral against loans from its discount window, eliminating a potential source of cash for banks preparing to buy back billions of dollars of these securities

Oil rose on forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the US oil and natural gas platforms in the Gulf of Mexico.

The outlook for the European corporate securitisation market is unlikely to improve this year as higher pricing, illiquidity and a damping of investor demand triggered by the credit crunch has reduced its appeal as a funding pool for companies

Fannie Mae and Freddie Mac sold a combined $3bn of short-term debt, helping to reassure stock markets that the two beleaguered US mortgage financiers could still fund their operations without a government rescue

The euro bounced off a six-month low against the dollar and European government bonds fell sharply as benign German inflation data were offset by hawkish comments from ECB officials

Pakistani officials were looking at ways to stabilise the country's stock market after it fell a further 3 per cent amid rising political uncertainty

The State-owned enterprise, Transnet, has supplied Parliament with full copies of the commercial agreements about the sale of Cape Town's V&A Waterfront development two years ago.

US stocks were flat in early trade as investors weighed higher oil prices, as a result of concerns that tropical storm Gustav could disrupt supplies of oil in the Gulf of Mexico, against better-than-expected data on durable goods orders.

The National Energy Regulator's admission that Eskom's load-shedding had cost the economy a massive R50 billion has vindicated mass protest action over the electricity crisis, Cosatu said today.

The dollar was weaker on Wednesday, as oil prices rose ahead of US inventories data and amid concerns that Tropical Storm Gustav could threaten rigs in the Gulf of Mexico.

Oil prices rose, ahead of the latest US inventories data, while gold prices also rallied and base metals recovered after a broad sell-off in the previous session

CPIX inflation, which excludes mortgage costs, has risen to a record 13% from 11.6% year on year. The June data, which Statistics South Africa (Stats SA) has just released is up by 1.4%. Economists say the rise comes as no surprise.

European equities fell on Wednesday as weakness among banks outweighed energy stocks that gained from rising oil prices

London equities fell further on Wednesday, with fresh bad news from the housing sector hitting developers.

Port Elizabeth's harbour capacity is set to increase with the commissioning of Transnet's brand new R70 million state-of-the-art container crane. It's the first new crane for the terminal since 1977 and brings the total number of container cranes to five.

Asia-Pacific equities were mixed with Japan weighed down by property stocks and a higher yen, while investors applauded the earnings of companies including China Cosco and Woodside Petroleum

Oil rose today as Hurricane Gustav took aim at US oil and natural gas installations in the Gulf of Mexico as it churned through the Caribbean.

South African households that are highly in debt are a worrying trend, Finance Minister Trevor Manuel said today.