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    Conflict in Asia, euro zone debt worries see markets slide

    Local markets

    Tuesday at noon saw the JSE All Share down 0.79%, tracking international equities and as losses in resource shares weighed on the local bourse.

    The rand was trading at R7.03 to the US dollar at midday, weakening further as investors’ risk appetite declined on debt worries in Europe.

    Gold cost $ 1 364.09 an ounce, edging down 0.18% though still sought out as a safe haven in light of renewed concern over Ireland's political situation.

    International markets

    On US markets, closes were mixed as the Dow Jones lost 0.22% yesterday while the Nasdaq gained 0.37%. Losses in bank shares pressured Wall Street, but tech stocks were given a boost after SanDisk Corporation and Amkor Technology Incorporated were upgraded.

    The Nikkei was closed today for a public holiday in Japan.

    Asian markets fell this morning, after news of artillery fire between North and South Korea made investors nervous. China’s Shanghai index fell 1.94% while Hong Kong’s Hang Seng tumbled 2.67%.

    Britain’s FTSE 100 had slipped 0.58% by noon Johannesburg time, as losses in banks weighed on the index after renewed concern about the eurozone debt situation.

    Share price news

    Wesizwe Platinum Limited (share code: WEZ) had risen 2.58% to sell at R1.99 a share at midday, after investors sold 470 775 shares in 27 deals.

    In the packaging sector, Nampak (NPK) gained 2.20% after 137 deals traded 363 584 shares, which saw the share price rise to R20.44.

    Octodec Investments Limited (OCT) in the real estate sector had slipped 3.26% to R17.80 a share, after 92 865 shares were traded in 9 deals by midday.

    After 475 deals, investors had exchanged 288 350 shares in Exxaro Resources Limited (EXX), whose share price fell 2.17% to R130.99.

    Permalink2010-11-23, 12:29:21, by Natalie Email , Leave a comment

    Global markets up after Ireland applies for bailout

    Local markets

    At midday on Monday, gains in resource shares led the JSE All Share up by 0.59%, after markets responded positively to Ireland’s request for bailout money, and the US dollar weakened.

    The rand was trading at R6.97 to the US dollar as currency markets took into account news of Ireland’s bailout application.

    Brent crude oil had risen 2.01% to $84.67 a barrel at noon, as the dollar weakened after Ireland’s bailout news.

    International markets

    On US markets on Friday, the Dow Jones closed 0.20% higher and the Nasdaq gained 0.15% after solid results from Marvell Technologies buoyed tech shares.

    In Japan, the Nikkei average climbed 0.93% to reach its highest close in five months this morning, as investor anxiety over the yen's strength faded, encouraging foreign buying of Japanese shares.

    China's Shanghai index fell 0.15% after losses in banking shares that came on monetary tightening concerns outweighed gains in sectors such as IT.

    Britain’s FTSE 100 was 0.31% higher at midday, thanks to gains in bank and commodity shares after news of Ireland’s bailout deal.

    Share price news

    Erbacon Investment Holdings Limited (share code: ERB) rose to R1.55 a share, a gain of 24% after 185 253 shares were traded in 6 deals.

    After 546 deals exchanged 780 573 shares, Telkom SA Limited (TKG) rose 2.73% to sell at R36.89 a share at midday.

    In the computer services sector, Paracon Holdings Limited (PCN) fell 2.29% to R1.71 a share, after investors sold 2 258 900 shares in 5 deals.

    African Bank Investments Limited (ABL) fell to R36.52 a share at noon, as investors exchanged 591 137 shares in 507 deals, resulting in a share price loss of 1.93%.

    Permalink2010-11-22, 12:26:54, by Natalie Email , Leave a comment

    Global markets up after Ireland applies for bailout

    Local markets

    At midday on Monday, gains in resource shares led the JSE All Share up by 0.59%, after markets responded positively to Ireland’s request for bailout money, and the US dollar weakened.

    The rand was trading at R6.97 to the US dollar as currency markets took into account news of Ireland’s bailout application.

    Brent crude oil had risen 2.01% to $84.67 a barrel at noon, as the dollar weakened after Ireland’s bailout news.

    International markets

    On US markets on Friday, the Dow Jones closed 0.20% higher and the Nasdaq gained 0.15% after solid results from Marvell Technologies buoyed tech shares.

    In Japan, the Nikkei average climbed 0.93% to reach its highest close in five months this morning, as investor anxiety over the yen's strength faded, encouraging foreign buying of Japanese shares.

    China's Shanghai index fell 0.15% after losses in banking shares that came on monetary tightening concerns outweighed gains in sectors such as IT.

    Britain’s FTSE 100 was 0.31% higher at midday, thanks to gains in bank and commodity shares after news of Ireland’s bailout deal.

    Share price news

    Erbacon Investment Holdings Limited (share code: ERB) rose to R1.55 a share, a gain of 24% after 185 253 shares were traded in 6 deals.

    After 546 deals exchanged 780 573 shares, Telkom SA Limited (TKG) rose 2.73% to sell at R36.89 a share at midday.

    In the computer services sector, Paracon Holdings Limited (PCN) fell 2.29% to R1.71 a share, after investors sold 2 258 900 shares in 5 deals.

    African Bank Investments Limited (ABL) fell to R36.52 a share at noon, as investors exchanged 591 137 shares in 507 deals, resulting in a share price loss of 1.93%.

    Permalink2010-11-22, 12:26:41, by Natalie Email , Leave a comment

    Losses in basic materials, gold miners lead JSE down

    Local markets

    The JSE All Share had fallen 0.38% by noon on Friday, as losses in basic materials and gold mining shares led the local bourse downwards.

    The rand had edged up to R6.95 to the US dollar, recovering after weakening slightly following yesterday’s rate cut announcement.

    Brent crude oil had risen 1.74% to sell at $85.46 a barrel, as investor confidence improved somewhat after a better outlook for Ireland's debt crisis.

    International markets

    Yesterday US markets were mixed as the Dow Jones closed 1.59% lower, and the Nasdaq gained 1.80%, though reactions to the possible resolution of Ireland's banking crisis were generally positive.

    Japan’s Nikkei index edged up 0.09% this morning, closing above 10,000 points for a second session, after international hedge fund inflows and a weaker yen.

    China's Shanghai index rose 0.81% to continue the recent rally into its third day, led by technology stocks. Gains were limited by worries over possible further monetary tightening.

    Britain's FTSE 100 had slipped 0.57% by noon, retreating after yesterday’s solid gains, as investors await news of resolution of the Irish debt situation.

    Share price news

    First Uranium Corporation (share code: FUM) rose 7.69% to R7.70 a share, after 15 000 shares were traded in 2 deals.

    After 3 deals exchanged 19 200 shares by midday, Business Connexion Group Limited (BCX) climbed 3.91% to sell at R6.65 a share.

    MR Price Group Limited (MPC) fell 1.92% after investors traded 755 799 shares in 1 064 deals, sending the share price down to R63.47.

    In the paper sector, Mondi PLC (MNP) lost 1.61% as shares fell to R55.07 each after 232 517 shares were sold in 205 deals this morning.

    Permalink2010-11-19, 12:26:37, by Natalie Email , Leave a comment

    JSE follows Asian markets upwards at midday

    Local markets

    At noon on Thursday, the JSE All Share had risen 1.08% as industrial stocks led across-the-board gains.

    The rand was trading at R6.97 to the US dollar, firming slightly before news of the central bank's interest rate decision at 1pm this afternoon.

    Gold had risen 1.62% to sell at $1 357.40 at midday, after the dollar rally took a breather after positive inflation news from the US.

    International markets

    US markets closed down yesterday, after the Dow Jones fell 1.59% and the Nasdaq dropped 1.75% as losses in financial stocks weighed in light-volume trade.

    In Japan, the Nikkei average climbed 2.06% this morning, closing above the 10,000 mark for the first time since end of June, as a weaker yen boosted financial shares.

    In Hong Kong, the Hang Seng rose 1.82% following gains in China and as investors bought up bargains in the financial and resource sectors.

    Britain’s FTSE 100 had risen 1.25% by midday SA time, as gains in commodity and bank shares lifted the index.

    Share price news

    Merafe Resources Limited (share code: MRF) had lifted 5.10% to R1.65 a share, after 4 815 267 shares were traded in 168 deals this morning.

    In the brewers sector, SABMiller PLC (SAB) had risen 3.56% to trade at R239.22 a share, after 1 644 950 shares were sold in 1 023 deals. SABMiller released their interim results this morning, reporting a group revenue increase of 7% for the six months ending 30 September 2010.

    Firstrand Limited (FSR) had lost 1.17% by noon, after 1 370 deals traded 10 078 723 shares, sending the share price down to R21.94.

    Falling 1.15% to R41.96 a share was Capital Shopping Centres Group PLC (CSO), after investors exchanged 305 423 shares in 202 deals.

    Permalink2010-11-18, 12:12:47, by Natalie Email , Leave a comment

    Ireland, China worries see global markets fall

    Local markets

    At midday on Wednesday, the JSE All Share had fallen 0.26% as the stronger dollar took its toll on gold mining and resources shares.

    The rand was exchanging at R7.03 to the US dollar, weakening further as Irish debt concerns saw investors becoming more risk averse.

    Brent crude oil had fallen 0.24% to $83.80 a barrel, after rumours that China will continue to take measures to slow their economy, and Irish debt worries added to negative sentiment.

    International markets

    Yesterday the Dow Jones fell 1.59% and the Nasdaq tumbled 1.75% as investors worried about the possibility of more European bailouts and tighter inflation controls in China.

    In Japan, the Nikkei index closed 0.15% higher this morning, as investors bought bargains in exporter shares as the yen softened against the dollar.

    Hong Kong’s Hang Seng index dived 2.02% on anxiety that China is likely to
    Raise interest rates to try to halt accelerating inflation.

    In Britain, the FTSE 100 had edged down 0.09% as worries over Ireland’s debt problems and China’s possible inflationary measures made investors cautious.

    Share price news

    Merafe Resources Limited (share code: MRF) climbed 2.56% in share price to sell at R1.60 a share at midday, after 140 deals traded 5 756 983 shares.

    Shares in Stefanutti Stocks holdings Limited (SSK) in the construction sector rose to R11.50 a share, enjoying an increase of 2.77% after 46 deals exchanged 1 060 912 shares.

    Syfrets and Commercial Union Property Fund (SYC) in the real estate sector lost 3.43% in share price as shares traded at R22.50 at noon, after 337 592 shares were sold in 35 deals. Syfrets released their unaudited, condensed interim financial statements this morning.

    Gold One International Limited (GDO) fell to R2.48 a share, a loss of 2.75% after investors exchanged 316 199 shares in 32 deals.

    Permalink2010-11-17, 12:31:14, by Natalie Email , Leave a comment

    A stronger US dollar sees global commodity shares weaken

    Local markets

    The JSE had fallen 0.93% by midday on Tuesday, as losses in resources and basic materials weighed on the local bourse.

    The rand was trading at R6.99 to the US dollar, weakening fractionally but remaining range bound before Thursday’s rate announcement.

    Gold cost $1 362.54 an ounce at noon, edging up 0.18% as investors continued to keep an eye on developments in the European debt saga.

    International markets

    Yesterday on US markets, the Dow Jones clung on to a 0.08% gain while the Nasdaq fell 0.17% as investors worries that the Federal Reserve may reduce its efforts to stimulate the economy.

    Japan’s Nikkei index had lost 0.31% by its close this morning, after investors took profits on concern for the future of corporate profits and the effect of stricter credit controls in China.

    China’s Shanghai index fell 3.98% as losses in property developers came on further credit tightening, and coal and metal shares slid on concerns over price controls.

    England’s FTSE 100 had fallen 1.19% by noon SA time, as losses in banks and commodity shares came on anxiety over Ireland’s debt situation.

    Share price news

    Petmin Limited (share code: PET) in the metals and minerals sector rose 3.28% to R3.15 a share at midday, after investors exchanged 330 038 shares in 29 deals.

    In the electrical equipment sector, Delta EMD Limited (DTA) gained 2.50% after 182 044 shares were traded in 10 deals, sending the share price up to R10.25.

    After 258 936 shares were sold in 37 deals, Litha Healthcare Group Limited (LHG) fell to R2.18, a loss of 5.22% by noon.

    Metorex Limited (MTX) had fallen 3.31% to R4.67 a share, after 305 deals traded 3 366 303 shares.

    Permalink2010-11-16, 12:35:01, by Natalie Email , Leave a comment

    JSE recovers 0.12%, investors continue to eye G20

    Local markets

    Monday at 12.30pm saw the JSE All Share up 0.12%, as steady gains in industrial and resource shares offset losses in gold mining and financial shares.

    The rand exchanged at R6.99 to the US dollar, weakening slightly following movements of the euro.

    Oil was selling at $86.57 a barrel at 12:30, edging up 0.06% as investors mulled over the possibility of Chinese interest rate hikes and worried about European debt problems.

    International markets

    On Friday, the Dow Jones fell 0.80% and the Nasdaq lost 1.46% as investors took profits ahead of the possible raising of interest rates in China.

    The Nikkei average rose 1.06% this morning, as shares were boosted by a weaker yen and better-than-expected growth data.

    The Hang Seng closed 0.81% lower, as investors in the Hong Kong index acted cautiously ahead of potential rate increases on the mainland.

    The FTSE 100 had slipped 0.16% by 12.30pm, after losses in bank and commodity shares and Europe’s debt problems concerned investors.

    Share price news

    In the platinum sector, Wesizwe Platinum Limited (share code: WEZ) sailed up to R1.90 a share at 12.30pm, a gain of 2.70% after 250 975 shares were exchanged in 27 deals.

    Medi-Clininc Corporation Limited (share code: MDC) gained 1.97% after 137 deals exchanged 916 861 shares, sending the price up to R29.00.

    In the auto parts sector, Dorbyl Limited (share code: DLV) fell to R3.20 a share, a loss of 32.35% after 21 sales totaling 140 397 shares.

    Shares in Fountainhead Property Trust (share code: FPT) lost 4.71% this morning as 46 deals sent the share price down to R6.67, a fall of 4.71%.

    Permalink2010-11-15, 13:01:09, by Natalie Email , Leave a comment

    Debt worries, lower commodity prices see global markets fall

    Local markets

    At 1pm on Friday, losses in resource and gold mining shares had left the JSE All Share down by 0.27%, in line with weaker global markets.

    The rand was trading at R6.93 to the US dollar, weaker as the rand tracked euro movement and was affected by lower commodity prices.

    Oil cost $86.98 a barrel, falling 1.16% from the previous session’s high as investor risk aversion increased on concern over Ireland’s debt.

    International markets

    Yesterday on US markets, a poor outlook from Cisco saw Wall Street take a hit, with the Dow Jones closing 0.65% lower and the Nasdaq finishing down 0.90%.

    In Japan, the Nikkei average lost 1.39% by its close this morning, as investors continued to take profits as commodity prices tumbled.

    China's Shanghai index dived 5.16%, its greatest percentage loss since May, after losses in financial and resource shares on the possibility of further monetary tightening.

    Britain's FTSE 100 had fallen 0.24% just before 1pm, after Ireland's debt worries as well as concerns that China's economy may be overheated. Losses were led by financial and commodity shares.

    Share price news

    In the clothing and footwear sector, Compagnie Fin Richemont (share code: CFR) rose 4.10% to sell at R38.05 a share at 1pm, after 58 020 759 shares were traded in 1 123 deals.

    Sacoil Holdings Limited (SCL) rose 4.28% to R1.95 a share, after investors exchanged 2 077 911 shares in 96 deals.

    After 135 deals of 2 104 087 shares, Metorex Limited (MTX) in the metals and minerals sector slid 2.61% to trade at R4.85 a share.

    Pan African Resources PLC (PAN) tumbled 1.60% to R1.23 a share, after 82 deals saw the sale of 996 031 shares this morning.

    Permalink2010-11-12, 13:07:27, by Natalie Email , Leave a comment

    Mixed global markets as investors eye G20 meeting

    Local markets

    Thursday noon saw the JSE All Share up 0.20%, thanks to solid gains in the gold mining and basic materials sector after bargain hunting.

    The rand was trading at R6.88 to the US dollar at 12:00, staying within a range and following euro-dollar movement, as investors eye the G20 summit that begins today in Seoul, South Korea.

    Gold cost $1 412.65 an ounce, rising 0.81% due to physical demand and as investors closely watched the G20 summit for currency signals.

    International markets

    Yesterday, the Dow Jones edged up 0.09% while the Nasdaq rose 0.62%, as investors sought bargains such as bank shares and betted on a continuation of the overall rally.

    Japan’s Nikkei average rose 0.31% this morning, supported by a weaker yen, though further gains were limited by profit taking and technical selling.

    China’s Shanghai index climbed 1.04% while Hong Kong’s Hang Seng rose 0.82% as banking and resource shares gained.

    Britain’s FTSE 100 had fallen 0.14% by midday as investors were cautious as the G20 meeting begins today, eroding earlier gains from mining shares.

    Share price news

    Anglogold Ashanti Limited (share code: ANG) had risen by 3.38% at midday to sell at R361.70 a share. Investors traded 451 667 shares in 1 270 deals after Ashanti revealed a new gold discovery, Tropicana in Australia.

    After 573 149 shares were exchanged in 1 083 deals, The Spar Group Limited (SPP) rose 2.28% to R99.21 a share at noon.

    Losing ground was African Bank Investments Limited (ABL), whose shares had fallen 2.17% to R36 after 1 295 026 shares were sold in 847 deals.

    RMB Holdings Limited (RMH) saw the trade of 486 613 shares in 677 deals this morning, leading to a loss of 1.84% as the share price slid to R36.81 at midday.

    Permalink2010-11-11, 12:45:35, by Natalie Email , Leave a comment

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