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    Cautious Market

    LOCAL MARKETS

    The JSE is trading sharply weaker today as investors remain nervous over the interest rate announcement tomorrow. Most analysts are predicting a 100 basis point increase in the repo rate to 12.5%.

    The rand is steady and awaiting the decision on interest rates. The local unit is trading at around R7.93/$, with analysts expecting it to strengthen to around R7.90/92/$ later today.

    OVERSEAS MARKETS

    Wall Street is set to open higher today as investors await reports on fuel inventories and general economic conditions.

    European markets are trading firmer today as banks and oil stocks perform well. However, the FTSE is edging lower as retailers and housebuilders lose ground.

    Asian markets closed mixed today. The Nikkei ended up by 1.2% as export stocks gained on the back of a weaker yen.

    COMPANY NEWS

    Ceramic Industries have unveiled a broad-based BEE deal which sees employees, communities and empowerment groups getting offered 2 million shares, 10% of group's issued share capital.

    First Uranium have reported a US 0.18c loss per share for the year ending March 2008. Operating loss came in at $18.454 million, from the $6.566 million reported last year. Total loss for the year was $22.347 million from a previous $7.928 million.

    Just two weeks after paying R454 million for 23.01% of gaming investment group Real Africa Holdings, Grand Parade Investments have bought an additional 7.56% for R146.212 million.

    Permalink2008-06-11, 15:12:47, by Marika Email , 1 comment
    Trackback address for this post: http://blog.sharenet.co.za/htsrv/trackback.php/803

    Comments, Trackbacks:

    Comment from: eddie louw [Visitor] Email
    Buy tangible property you can't lose.Paper equities profits will be eaten up by the big boy's.
    PermalinkPermalink 2008-06-11 @ 17:22

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