South African Markets – Factors to watch on July 27

July 28, 2010 By Leave a Comment

July 27 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.

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EVENTS

PRETORIA – Government auctions 1.1 billion rand of its 2018 bond ZAR204= and one billion rand of its 2020 bond ZAR207= at its weekly auction. 0900 GMT

PRETORIA – Stats SA releases Q2 2010 jobless data. 0930 GMT

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GLOBAL MARKETS

Asian stocks rose to their highest in two and a half months on Tuesday, boosted by solid U.S. housing data, while the euro inched up towards two-month peaks on relief over stress tests on European banks.

The MSCI index of Asia Pacific ex-Japan stocks .MIAPJ0000PUS was up 0.4 percent, led by gains in the technology .MIAPJIT00PUS and consumer durables .MIAPJCD00PUS sectors. [GLOB/MKTS]

SOUTH AFRICAN MARKETS

South Africa’s rand advanced to fresh 3-month highs against the dollar on Monday and domestic stocks rose on the back of higher financials. The rand broke through key technical levels in the session and was eyeing 7.25/dollar, a level it has only pierced briefly twice in the past year.

On the bourse, the JSE Top-40 index of blue chips .JTOPI edged up 0.19 percent to 25,381.47, while the broader All-Share index gained 0.26 percent to 28,499.00. [ID:nLDE66P1O1]

ANGLO PLATINUM (AMSJ.J)

Anglo Platinum, the world’s biggest producer of the precious metal, said on Monday it would lift its production by about 3 percent a year for the next 10 years to meet slowly recovering demand. [ID:nLDE66P0AF]

GOLD XAU=

Gold gained on Tuesday in a thin market driven by a firm euro and a technical rebound as prices briefly hit the 100-day moving average, while jewellery makers stayed on the sidelines after recent purchases.

Spot gold XAU= added $1.05 to $1,184.80 an ounce by 0336 GMT as dealers shrugged off a slight decline in ETF holdings. Gold had fallen nearly $8 on Monday after strong U.S. home sales data dented its safe haven appeal. [GOL/]

WALL STREET

An upbeat outlook from FedEx, coupled with encouraging home sales, lifted U.S. stocks on Monday, keeping the S&P 500 above 1,100 for a second day and suggesting the rally could last.

The Dow Jones industrial average .DJI gained 100.81 points, or 0.97 percent, to 10,525.43. The Standard & Poor’s 500 Index .SPX rose 12.35 points, or 1.12 percent, to 1,115.01. The Nasdaq Composite Index .IXIC advanced 26.96 points, or 1.19 percent, to close at 2,296.43. [.N]

EMERGING MARKETS

For the top emerging markets news, double click on [nTOPEMRG]

NIGERIA

The private sector arm of the World Bank said on Monday it would provide funding that would help enable Nigerian banks to buy distressed counterparts rescued in a $4 billion central bank bailout last year. [ID:nLDE66P1RB]

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Some of the main stories out of the South African press:

BUSINESS DAY

- Rand up on better sentiment in U.S, Europe

- Kumba Iron Ore (KIOJ.J) “to offer olive branch” if it wins dispute

BUSINESS REPORT

- Dip in leading indicator fuels fear of slowdown in recovery

THE STAR

- Defence Minister Lindiwe Sisulu denies sullen soldiers pose a threat

(Reporting by Gugulakhe Lourie)

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Grains Week Ahead-Yuan move welcome, but all eyes on weather

June 21, 2010 By Leave a Comment

CHICAGO, June 20 (Reuters) – China’s surprising move over the weekend signaling a new willingness to let its currency gain strength may give grain prices an initial boost this week, but recent adverse weather for world crops will be more important.

“I, and a few other commercials, see the news as mildly supportive. More important may be how the external commodity markets react to the news,” said Dan Basse, president of grain and livestock industry consultant AgResource in Chicago.

“Chinese and U.S. weather is much more important to grain price direction in the week ahead,” he said.

In what was seen as a largely political move to deflect criticism of its fixed exchange rate ahead of the G20 meeting this week, China’s central bank on Saturday indicated it was ready to break a hard peg with the dollar that has come under intense criticism from the United States and other countries.

“This sounds more serious than previous rhetoric coming out of Beijing, but it would be wise to initially take the news with a grain of salt,” said Bill Lapp, an economist with Advanced Economic Solutions in Omaha, Nebraska.

“The exchange rate flexibility is presumably an effort to tame inflation, which we have already observed in their recent purchases of US corn. In other words, a stronger yuan benefits U.S. ag exports. But we have already seen some benefit.

“Not sure what this does for prices Sunday night, but would think weather is still the first factor to watch,” Lapp said.

Chicago Board of Trade wheat and corn futures rallied to three-week highs on Friday and soybeans traded around a one-month peak because of the turn to adverse crop weather.

So analysts say there could be follow-through strength in the markets this week if harsh weather patterns persist.

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Buying life experiences, not material possessions, boosts happiness

February 8, 2009 By Leave a Comment

Washington, Feb 08 (ANI): Buying life experiences – such as going for vacations or going to the theatre – rather than material possessions leads to greater happiness for both the consumer and those around them, according to new study.

The study, conducted by researchers at San Francisco State University, has shown that experiential purchases result in increased well-being because they satisfy higher order needs, specifically the need for social connectedness and vitality – a feeling of being alive.

“These findings support an extension of basic need theory, where purchases that increase psychological need satisfaction will produce the greatest well-being,” said Ryan Howell, assistant professor of psychology at San Francisco State University.

In the study, the researchers asked the participants write reflections and answer questions about their recent purchases.

Participants indicated that experiential purchases represented money better spent and greater happiness for both themselves and others.

The results also indicate that experiences produce more happiness regardless of the amount spent or the income of the consumer.

Experiences also lead to longer-term satisfaction.

“Purchased experiences provide memory capital. We don’t tend to get bored of happy memories like we do with a material object,” Howell said.

“People still believe that more money will make them happy, even though 35 years of research has suggested the opposite. Maybe this belief has held because money is making some people happy some of the time, at least when they spend it on life experiences,” Howell added.

The findings were presented at the Society for Personality and Social Psychology annual meeting on Feb. 7. (ANI)

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