Company Data
| Last traded |
R159.00 |
| Change |
R-1.00 |
| % Change |
-0.63% |
| Cumulative volume |
664,411 |
| Market cap |
R80.68bn |
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Feb 03 2012 19:08
The rand firmed against the dollar in late afternoon trade following the release of better-than-expected US jobs data.
Feb 03 2012 17:02
Impala Platinum says it will start recruitment of new workers or the rehiring of dismissed employees next week after laying off more than 17 000 for going on illegal strikes.
Feb 03 2012 16:34
An economic package worth more than R300m has been agreed to with the Cuban government, says Trade and Industry Minister Rob Davies.
Johannesburg - South Africa's producer price inflation (PPI) is expected to continue to rise over coming months, but it will not have immediate implications for consumer price inflation.
PPI quickened to 9.4%
year-on-year (y/y) in June from 6.8% in May, official data showed on Thursday.
Statistics
South Africa said on a monthly basis producer inflation, representing
domestic output, was at 4.0% compared with 0.2% in May.
Exported
commodities inflation stood at 7.0% y/y in June compared with
4.8% the month before, while imported commodities inflation slowed to
3.7% y/y from 6.5% previously.
A Reuters poll last week
showed the PPI was expected to quicken to 7.4% y/y and to 2.4% month-on-month.
"The rise was mainly due to a seasonal increase in the price of electricity," said
Nedbank Group [JSE:NED] economist Carmen Altenkirch.
"Although PPI is expected to continue to rise over the coming months, it has no immediate implications for our positive consumer inflation outlook, as it is being driven by commodity inflation," she said.
Statistics SA data on Wednesday showed CPI consumer inflation, monitored by the Reserve Bank for monetary policy, slowed to 4.2% y/y in June, staying in a 3% to 6% target band and leaving the door open for another rate cut before year-end.
The argument for lower rates was further bolstered earlier on Thursday by Reserve Bank numbers showing demand for credit from South Africa's private sector grew at a slower pace than anticipated in June, as companies and households struggled to recover from last year's recession.
The Reserve Bank slashed rates by 550 basis points between December 2008 and March this year to help rekindle economic growth, but has left the key repo unchanged at 6.5% at its last two policy meetings.
"We still believe the risks to consumer inflation and interest rates are strongly biased downwards," said Barnard Jacobs Mellet Holdings [JSE:BJM] economist Elna Moolman.
- Reuters