on air now
NOW PLAYING
Kea Zawadi
up next
Up Next
Queenie Grootboom
on air now
NOW PLAYING
Kea Zawadi
up next
Up Next
Queenie Grootboom
 

SA futures end firmer, track global markets


Johannesburg, Jan 23 (I-Net Bridge) - South African near-dated futures ended higher on Monday, tracking firmer global sentiment.

The local near-dated Alsi contract gained 252 points, or 0.83%, to 30,475.

The rand was trading at R7.9159 against the US dollar, from R7.9442 at the previous close, while gold was quoted at US$1,674.35 a troy ounce from US$1,663.47/oz before.

The total number of contracts that exchanged hands was 30,337 from 29,866 on Friday.

Dow Jones Newswires reported that US stocks moved higher, with Greece's debt-swap talks in focus as eurozone finance ministers convened for budget talks.

European markets traded higher. Investors showed healthy demand at a German auction of short-term debt, while investors kept an eye on Greece as it negotiates a potential debt-restructuring agreement with its private creditors.

Greece's debt issues are expected to dominate a meeting between eurozone finance ministers in Brussels on Monday, ahead of a meeting between all 27 European Union finance ministers on Tuesday.

"It looks like the market is still hopeful for a deal," said Joe Bell, senior equity analyst at Schaeffer's Investment Research. It would be a "big negative" for stocks should the debt-swap deal fall through, but for now, "the market is assuming that deal is going to get done."



Copyright 2012 I-Net Bridge. All rights reserved.