BENEFITS OF JOINING CHAMBER?

There are countless good reasons to join the Border-Kei Chamber of Business and direct benefits include:

DATABASE

Chamber membership gives you valuable access to members and potential clients.

NEW MEMBERS INDUCTION AND NETWORKING FUNCTIONS

Members are entitled to attend valuable informal, but structured opportunities to meet a broad range of business people.

BUSINESS HI-LITE MAGAZINE

This glossy B2B magazine is distributed monthly free of charge to all our members and keeps you in touch with Chamber activities and developments in our area.

CHAMBER EVENTS DIARY

The Chamber Diary is listed on our website and updated as events change. Both Members and Non-Members are invited to attend and become involved.

LETTERS OF SUPPORT

At a small fee, we gladly provide letters of support to members trying to access tenders and expand their business footprint. Each Chamber member commits to a code of ethics that endeavours to raise the standard on which business is conducted.

LETTERS OF INTRODUCTION

The Chamber issues letters of introduction to members proceeding abroad on business.

BUSINESS BYTES

Our monthly electronic newsletter gives a snapshot of activities and upcoming events.

MEMBERSHIP CERTIFICATE

On becoming a member you will receive a personalised membership certificate at a New Members' Induction and Networking Event.

www.bkcob.co.za

Members who have websites are entitled to a link from our website, to yours. We ask you to reciprocate this link from your website to ours as well. The new and constantly updated portal provides members with an advanced medium to keep abreast of both news and the latest developments within the Border-Kei region.

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Daily Financial Market Report PDF Print E-mail
Domestic markets

 

The JSE all-share was firmer in midday trade yesterday, in line with international equity markets amid improved global risk appetite as concerns over Greece receded. The local bourse continued this strong momentum amid higher crude oil prices and improved global market sentiment, and ended 0,76 per cent higher. The resources, platinum and industrials indices rose by 0,90 per cent, 0,69 per cent and 0,68 per cent respectively. The banks index increased by 0,94 per cent and the financials index was 0,62 per cent higher. Conversely, the gold index declined by 0,99 per cent.

 

The South African rand remained on the front foot yesterday, targeting R7,29 per US dollar. The local currency also reached key technical levels against the euro amid keen buying interest both locally and internationally. The local currency is currently trading at R7,41 per US dollar, at R10,14 per euro, and at R11,17 per pound sterling.

Daily Financial Markets Report

Tuesday, 09 March 2010

 

 

5 workday % change

Tues

02/03

Wed

03/03

Thurs

04/03

Fri

05/03

Mon

08/03

Tues

09/03

Daily % change

JSE ALSI

4.0

27026

27372

27683

27774

27904

28117

0.76

JSE Top 40

3.0

24525

24587

24857

24916

25058

25256

0.78

R/US$

3.4

7.63

7.57

7.50

7.48

7.44

7.38

-0.81

R/€

2.3

10.31

10.38

10.29

10.15

10.10

10.08

-0.20

R/£

2.7

11.40

11.36

11.31

11.22

11.15

11.10

-0.45

Gold (US$/oz)

0.6

1117

1134

1141

1129

1138

1124

-1.25

Platinum (US$/oz)

2.9

1545

1572

1575

1571

1578

1590

0.75

Brent Crude Oil (US$/barrel)

3.6

77.07

77.38

78.61

78.13

79.67

79.81

0.18

Barrels/1 oz gold

-2.8

14.49

14.65

14.51

14.45

14.28

14.08

-1.42

R157 bond (%)

-0.03

8.23

8.14

8.18

8.16

8.16

8.20

0.49

International markets

 

US equity markets were relatively flat yesterday as hopes fuelled by AIG's sale of a unit and McDonald's upbeat sales were offset by falling healthcare shares after President Barack Obama's criticism. The US President criticised insurance premium increases and some cases of coverage denial in the healthcare industry. European equity markets fell yesterday after six days of gains, with pharmaceutical shares taking a fall after AstraZeneca’s cancer drug failed in trials, thus offsetting gains in oil majors which drew support from stronger crude oil prices. Asian equity markets closed higher as encouraging US employment and consumer data reinforced views that the US economy is steadily recovering, thus boosting risk appetite.

 

The euro recouped losses incurred earlier in the day and was boosted by comments on Sunday from French President, Nicolas Sarkozy, which hinted on plans to support debt-stricken Greece, thus easing concerns about Greece’s indebtedness.

 

 

Despite a stronger rand, South African bonds were weaker yesterday due to supply pressures. Traders noted that there were quite a few bonds coming to the market this week, including the City of Cape Town, African Bank, Investec and Eskom, and the market is concentrating its attention on supply issues.

 

Commodities

 

The gold price fell by more than 1 per cent yesterday due to technical selling and liquidation by investors of positions added last week to cushion currency volatility from the Greek debt crisis. Spot gold is currently trading at US$1 121/oz.

 

Oil prices rose due to a weaker US dollar and amid signs that the global economy is improving, thus raising hopes of a recovery in energy demand. Brent crude oil is currently trading at US$80,05/barrel. 

Source: South African Chamber of Commerce & Industry (SACCI) Tuesday 15 March 2010

 

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