Sharenet Morning Market Report

Local markets

By noon on Tuesday, the JSE All Share had slipped 0.87% as investors took profits after the bourse’s recent rally. Losses were heaviest in the basic materials sector.

The rand was selling at R7.42 for a US dollar at midday, following in the wake of a weaker euro as traders also took profits.

Oil cost $79 a barrel, a slip of 0.05% after anticipation of an increase in US crude oil stockpiles and a slightly stronger dollar.

International markets

On US markets yesterday, the Dow Jones fell 0.13% while the Nasdaq rose 0.25%. Tech stocks climbed on gains led by Research in Motion and Cisco Systems.

Japan's Nikkei fell 0.17% this morning on profit taking, as investors reaped the benefits of the index’s six-week high reached yesterday.

The Hang Seng closed 0.05% up, recovering after initial losses as China Life gained on news that the company had predicted a sharp jump in profit.

Britain's FTSE 100 had lost 0.4% by midday, as mining shares came under pressure of lower metal prices, and banks fell on caution over the sector's funding position.

Share price news

Amalgamated Appliance Holdings Limited (share code: AMA) gained 6.25% after investors traded 3 282 509 shares in 123 deals, sending the share price up to R1.70 at midday.

Digicore Holdings Limited (DGC) gained 5% as shares rose to R3.15 each after 18 deals saw the exchange of 1 086 475 shares.

After 120 deals totaling 622 265 shares, Metorex Limited (MTX) lost 6.32% to sell at R4.45 a share.

After the company released its audited results and announced a proposed de-merger into two separate businesses, Liberty International PLC (LBT) fell 4.21% to R54.60 a share this morning, after 1 606 306 shares were traded in 1 045 deals.

Local markets

At 12:10 on Monday, the JSE All Share had risen 0.69%, with shares in the oil and gas sector leading gains, though gold mining shares however had retreated.

The rand was trading at R7.42 to the US dollar at 12:38, firming in line with a stronger euro.

Gold was selling at $1134.79 an ounce, 0.22% higher as a stronger euro inspired investors to seek bargains away from unpredictable currencies.

International markets

On Friday, the Dow Jones rose 1.79% and the Nasdaq closed 1.48% higher, as unemployment statistics were better than expected and consumer spending had increased.

Japan's Nikkei gained 2.09% this morning to reach its highest level in six weeks. Exporters rose on a weaker yen and resource shares were boosted by higher commodity prices.

Hong Kong’s Hang Seng finished 1.97% higher as investors sought bargains, particularly selected blue chip stocks.

The FTSE 100 had fallen 0.18% by 12:22, eroding early gains by insurance and mining stocks.

Share price news

At 12:14, Standard Bank Group Limited (SBK) rose 2.40% to R115.35, after 2 845 866 shares were exchanged in more than 1900 deals.

Metals and minerals company Merafe Resources Limited (MRF) rose 2.52% to sell at R1.63 a share, after 2 665 910 shares were traded in over 160 deals.

Anglo American PLC (AGL) fell 0.23% to R300.10, as investors traded 353 269 132 shares in over 1 000 deals.

After 340 053 534 shares were exchanged in more than 1 200 deals, BHP Billiton PLC (BIL) lost 1.95% to sell at R249.21 at 12:15.

Local markets

On Friday at midday, the JSE All Share had edged up by 0.02%, inspired by gains on international markets, but a stronger rand took its toll on gold mining shares.

The rand was trading at R7.46 at noon, remaining within a range and taking a lead from the euro before the publishing of US non-farm payrolls data.

Brent crude oil rose 1.70% to sell at $78.31 a barrel, after investors hoped that China would continue its economic stimulus that would encourage growth and demand for oil.

International markets

Yesterday, the Dow Jones finished 0.46% up and the Nasdaq gained 0.51% as investor confidence was boosted by better-than-expected initial unemployment statistics and productivity figures.

Japan's Nikkei index lifted 2.20% this morning, as the yen weakened after news that the Bank of Japan was considering monetary easing.

China’s Shanghai index closed 0.25% up, overcoming losses in banking and property stocks on concern that tighter monetary policy could stall domestic economic growth.

Britain’s FTSE 100 was 0.37% up at noon, following gains on US markets, but investors were cautious before the release of monthly US non-farm payrolls data.

Share price news

In the metals and minerals sector, Merafe Resources Limited (share code: MRF) climbed 3.97% to R1.57 at midday, after investors traded 4 259 415 shares in 143 deals.

After 141 deals of 668 355 shares, construction company Group Five Limited (GRF) rose 3.60% to R36.30 a share.

Digicore Holdings Limited (DGC) in the electronic equipment sector fell 6.25% to R3 a share, after 200 112 shares were traded in 20 deals.

Real estate holdings firm Redefine Properties Limited (RDF) saw the exchange of 597 030 shares in 54 deals, leading to a loss of 4.65% as shares fell to R7.58.

Local markets

By midday, the JSE All Share had slipped 0.05% as investors took profits, with losses in the oil and gas sector leading the local bourse downwards.

The rand was trading at R7.49 to the US dollar at noon, easing slightly after reaching its highest level in a month.

Gold had inched down 0.11% to sell at $1136.75 an ounce, after investors took profits as the precious metal began to regain its safe haven appeal.

International markets

The Dow Jones lost 0.09% and the Nasdaq slid fractionally at their close yesterday in flat trade, as positive sentiment from improvements in the job market and services sector was offset by concern about bank regulation.

Japan's Nikkei average fell 1.05% this morning, as exporters suffered under a stronger yen.

China’s Shanghai index closed 2.38% while Hong Kong’s Hang Seng fell 1.44%, continuing yesterday’s losses.

In Britain, the FTSE 100 had dipped 0.02% by midday, as investors proceeded cautiously ahead of the Bank of England’s monetary policy meeting today.

Share price news

Arcelormittal SA Limited (share code: ACL) in the steel sector gained 4.60% as shares rose to R94.40 at midday, after 2 144 deals totaling 3 047 198 shares.

In the life assurance sector, Metropolitan Holdings (MET) saw the exchange of 107 090 shares in 62 deals, which lifted the share price by 3.20% to R14.50.

Illovo Sugar Limited (ILV) fell 3.21% to R30.20 a share at noon, after investors traded 1 802 361 shares in 63 deals.

After 29 deals of 1 927 900 shares, Sentula Mining Limited (SNU) lost 2.14% to trade at R2.74 a share.

Local markets

The JSE All Share had risen 0.64% by noon on Wednesday, following movements on international markets.

The US dollar cost R7.58 at 12:00, with the rand strengthening on positive investor sentiment and a stronger euro.

Oil cost $77.79 a barrel, up 0.44% though still below the $80 mark as US crude stockpiles increased more than expected as imports grew.

International markets

The Dow Jones closed 0.02% higher and the Nasdaq rose 0.32% yesterday, after stocks gained in light of recent mergers and acquisitions, but growth was limited by sales of certain technology and bank shares.

Japan's Nikkei average rose 0.31% this morning, overcoming losses in exporters on a slightly stronger yen.

Hong Kong’s Hang Seng dipped 0.14%, despite bank heavyweight HSBC recovering from yesterday’s losses, and gains in Chinese renewable energy shares.

The British FTSE 100 had inched 0.15% down by midday, after losses in energy and mining counters.

Share price news

Just after midday, Metorex Limited (share code: MTX) in the metals and minerals sector had risen 9.67% to R4.65 a share, after investors traded 1 745 613 shares in 232 deals.

Retailer JD Group Limited (JDG) sold for R45 a share, a gain of 3.38% as 1 183 971 shares were exchanged in 454 deals.

In the gaming sector, Gold Reef Resorts Limited (GDF) fell 1.81% to R19 a share, as 56 deals saw the exchange of 173 182 shares.

Also losing ground was Simmer and Jack Mines Limited (SIM), after investors traded 979 273 shares in 60 deals that led the share price down 1.46% to R1.35.

Local markets

At noon on Tuesday, the JSE All Share had inched up 0.35% after the release of promising economic data, and tracking international equity markets higher.

The rand was trading at R7.62 to the US dollar at midday, falling slightly after reaching a one-week high overnight.

Gold was selling at $1116.40 an ounce, recovering 0.22% after initial losses, as investors concern that a bailout for Greece might weaken the euro began to ease.

International markets

Yesterday, the Dow Jones rose 0.76% and the Nasdaq gained 1.58% after AIG's decision to sell a major Asian unit and SanDisk Corp raised its revenue forecast.

Japan's Nikkei lifted 0.49% this morning, boosted by gains in chip-linked stocks after a positive forecast from SanDisk Corp buoyed shares of US counterparts.

In Hong Kong, the Hang Seng closed 0.72% lower on losses in HSBC after the company reported poor earnings, which spurred selling.

In Britain, the FTSE 100 rose 0.25% by midday, on gains in banking stocks as HSBC rallied after yesterday’s poor results.

Share price news

In the metals and minerals sector, Metorex Limited (share code: MTX) gained 7.24% as shares rose to R4.15 at midday, after investors traded 1 496 169 shares in 160 deals. This morning, Metorex announced positive unaudited interim results for the last period.

After 1 445 deals totaling 1 726 368 shares, retailers Massmart Holdings Limited (MSM) rose 3.97% to R96.70 a share.

Anglo Platinum Limited NPL (AMSN) lost 5.09% as shares fell to R187, after investors traded 35 254 shares.

York Timber Holdings (YRK) saw the exchanged of 96 142 shares in 12 deals, which sent the share price down 5.05% to R3.01 at noon. York released an updated trading statement this morning that announced an error in the reported headline earnings per share.

Local markets

Supported by a stronger rand and positive global markets, the industrial and basic materials sectors gained on Monday, helping to boost the JSE All Share by 1.01% at midday.

The rand followed the euro this morning, trading at R7.65 to the US dollar at 12:00, after rumours of a debt bailout for Greece was close at hand.

Oil gained 1.96% to sell at $77.49 a barrel, after Iran threatened to cut off energy supplies to Europe, though further gains were capped by concern that China’s energy demand was slowing.

International markets

On Friday, US markets lifted to achieve their best monthly gain since November, after economic growth data from the fourth quarter was better than anticipated. The Dow Jones edged up 0.04% while the Nasdaq rose 0.18%.
Japan's Nikkei index gained 0.45% this morning, as exporters gained on news of positive GDP data for the US last quarter.
In Hong Kong, the Hang Seng rose 2.17% led by HSBC as investors banked on the corporate publishing positive results later today.

The FTSE 100 had risen 0.46% by noon, after mining stocks gained on support from higher copper prices.

Share price news

In the clothing and footwear sector, Compagnie Fin Richemont (share code: CFR) rose 3.41% to R26.42 a share, after investors traded 1 752 520 shares in 358 deals.

After 752 deals exchanged 1 066 425 shares, the price of Aspen Pharmacare Holdings (APN) shares gained 3.03% to sell at R73.15 each at midday.

Electronic equipment company Digicore Holdings Limited (DGC) lost 11.48% as investors traded 121 491 shares in 20 deals, sending the share price down to R2.70.

Medi-clinic Corporation Limited (MDC) fell 5.43% to R25.25 a share, after 44 deals saw the exchange of 49 181 shares.

Local markets

Friday midday saw the JSE All Share inch up 0.17%, recovering after a rebound in commodity prices, and led by gains in gold mining and oil and gas stocks.

The rand was trading at R7.73 to the US dollar, tracking the euro but remaining within a steady range.

Precious metal gold was selling 1.47% up at $1112.14 an ounce, as the euro continued to strengthen against the dollar, but investors were cautious before the release of US economic data.

International markets

The Dow Jones lost 0.51% yesterday, while the Nasdaq dipped 0.08% after poor jobs data and sales of durable goods caused concern amongst US investors.

Japan's Nikkei finished 0.24% higher this morning, with better-than-expected domestic output offsetting investor worries about the health of economic recovery in the US.
In Hong Kong, the Hang Seng gained 1.03% as investors bought up bargains of Chinese finance shares.

Britain's FTSE 100 had risen 0.9% by midday, led by gains in oil and mining shares after commodity prices rallied.

Share price news

In the gold mining sector, Simmer and Jack Mines Limited (share code: SIM) rose 10.77% to R1.44 a share, after investors traded 3 588 514 shares in 169 deals.

After 1 019 deals totaling 638 417 shares, Gold Fields Limited (GFI) rose to R89.99 a share at noon, a gain of 2.39%.

Losing ground in the construction sector was Basil Read Holdings Limited (BSR), whose shares fell 2.02% to R12.15 after 29 deals saw the exchange of 80 138 shares.

After 259 207 shares were traded in 342 deals, SABMiller PLC (SAB ) fell 1.69% to sell at R202 a share at noon.

Local markets

At midday on Thursday, the JSE All Share had lost 0.03% as investors took profits from gold mining and basic materials, as well as a broad range of other stocks.

The rand was selling at R7.80 to the US dollar, weaker in line with losses on Asian share markets, and a softer euro-dollar exchange rate.

Brent crude slipped 0.19% to sell at $76.85 a barrel at noon, with global oil inventories still outweighing demand.

International markets

Yesterday on US markets, the Dow Jones rose 0.89% and the Nasdaq gained 1.01% after reassurances from Federal Reserve Chairman Ben Bernanke that interest rates will remain low.

The Japanese Nikkei fell 0.95% as the yen rose and hurt exporters, which outweighed earlier gains that came after news of continuing low interest rates in the US.
In Hong Kong, the Hang Seng dipped 0.33% as Chinese banks lost on worries of further monetary tightening, offsetting gains in property stocks.

Better-than-expected results from Royal Bank of Scotland led the FTSE 100 up by 0.01% at noon, but these gains were partially offset by losses in mining stocks.

Share price news

The announcement of positive results from Massmart Holdings Limited (share code: MSM) set of a flurry of activity, with 709 deals trading 1 120 244 shares, which sent the share price up 3.41% to R91 at midday.

Aspen Pharmacare Holdings (APN) rose 2.22% to sell at R69 a share, after investors traded 281 608 shares in 385 deals.

After 453 873 shares were exchanged in 484 deals, Murray and Roberts Holdings Limited (MUR) fell 2.69% to R38 a share.

Vodacom Group Limited (VOD) slipped 2.44% to R53.66 a share, after investors traded 1 148 551 shares in 1 077 deals.

Local markets

At 12 noon on Wednesday, the JSE All Share had fallen 0.95%, led down by losses in the basic materials index, and influenced by negative international sentiment.

The rand was R7.77 to the US dollar at 12:00, weaker slightly as it continued to trail after a weaker euro.

Gold was selling at $1091.92 an ounce, down 0.86% as weaknesses in other commodities staunched the recovery of the precious metal through bargain hunting.

International markets

The Dow Jones closed 0.97% lower yesterday, alongside a 1.28% fall in the Nasdaq, after a steep decline in consumer confidence caused investors to be anxious about the strength of economic recovery.

Japan's Nikkei fell 1.48% this morning, as losses in exporters came on the back of a stronger yen and reports of a drop in American consumer confidence.

The Hang Seng lost 0.75% as investors took profits after the Hong Kong index’s recent rally, after becoming concerned about the pace and health of global economic recovery.

The FTSE 100 was 0.06% down by midday SA time, as higher oil prices lifted energy shares and small gains could be found in banks and some defensive shares, but were not enough to offset losses in mining stocks.

Share price news

Gaining 5% as shares climbed to R3.15 at midday was Afrimat Limited (share code: AFT) in the building and construction materials sector, after 172 171 shares were traded in 13 deals.

British American Tobacco PLC (BTI) rose to R267.39 a share, a 1.67% gain after investors exchanged 194 040 shares in 409 deals.

After one deal of 305 400 shares, ELB Group Limited (ELR) in the construction sector fell 12.96% to sell at R10.01 a share.

After 2 890 288 shares were exchanged in 188 deals, Simmer and Jack Mines Limited (SIM) lost 7.38% to sell at R1.13 a share.