XML FeedsGlobal markets mostly positive at close of 2nd quarter
Local markets
A positive close on US markets and stronger gold mining and oil and gas stocks lifted the JSE All Share by 0.29% by midday Tuesday. Traders await a surge of local data today, including money supply, consumer confidence and trade statistics.
The rand was trading at R7.75 to the US dollar at noon after the dollar weakened. Although the barrage of local data is unlikely to affect the exchange rate, the rand might react to negative trade data affected by an erratic oil price.
The gold price rose 0.41% to sell at $940.88 an ounce, aided by a weaker dollar that came on the back of stronger equity markets.
International markets
Yesterday, the Dow Jones climbed 1.08%, alongside the S & P 500 which rose 0.91% and the Nasdaq, which edged up by 0.32%. Higher oil prices boosted energy shares, while some fund managers ‘window-dressed’ their portfolios by selling off losers and buying winners for this quarter.
The Nikkei average gained 1.79% this morning to reach its highest quarterly level in nine years. Investor sentiment has improved on perceived signals of the beginning of an economic recovery.
The Hang Seng fell 0.81% as investors booked profits after an amazing four-month long rally, ending their best quarter in over 15 years on a weaker note.
Britain's leading share index inched up 0.03% at the close of the quarter, after earlier losses led by defensive stocks came after investors squared their positions. The mood was cautious before the release of final UK GDP data.
Share price news
Anglo American Platinum Corporation Limited rose 6.38% to trade at R150 a share at midday, after just one deal. Meanwhile, Eastern Platinum Limited climbed 5.56% to R3.80 a share after 26 deals.
Diamond company Trans Hex Group Limited fell to R2.32 a share just past midday, a loss of 7.20%. Gold miner Central Rand Gold Limited lost 6.98% as shares fell to R4 each after one deal.
Gains on JSE hampered by stronger rand
Local markets
The JSE All Share had risen 0.2% by midday, led upwards by gains in financial and gold mining stocks. Resource stocks were not as positive due to a strong rand.
The rand was trading at R7.84 to the US dollar at noon. Analysts don’t expect too much movement today, suggesting that a renewed appetite for risk and a weaker US dollar will continue to support the rand.
Oil was trading at $68.19 a barrel, an increase of 1.78%. Investors await economic data this week, including US employment statistics for June, and consumer confidence and manufacturing indices.
International markets
The Japanese Nikkei fell 0.95% this morning despite earlier gains, due to weaker oil prices which affected companies such as Mitsubishi Corporation.
The Shanghai index rose 1.61% to reach its highest close in a year, after coal and property stocks boosted the Chinese index alongside increased liquidity.
The Hang Seng lost 0.39% by its close today, ending the previous three-day’s rally. Again, lower energy prices took their toll on resource stocks, and turnover fell to its lowest level in three months before the expiry of index futures.
The FTSE 100 had edged up 0.26% by 12:00, thanks to gains in oil and mining stocks, and positive moves by Vodafone, who is possibly going to make an offer for competitor T-Mobile.
Share price news
Silverbridge Holdings Limited shot to the top of the biggest movers up after a single deal boosted the share price 14.67% to R1.72. Investment bank Peregrine Holdings Limited also gained 7.53% by midday, sending the share price up to R7 after two deals.
Slipping 7.83% after ten deals to sell at R2.12 a share was Grand Parade Investments Limited. Aquarius Platinum Limited fell 6.54% to trade at R30 a share at noon, after five deals.
Stronger close on Wall Street boosts global markets
Local markets
A stronger finish for US markets yesterday encouraged gains on the JSE All Share, which had regained 1.93% after its losses yesterday. Leading the charge upward were companies in the basic materials and oil and gas sectors.
The rand was trading at R7.97 to the US dollar at midday, strengthening against the dollar after Wall Street’s rally last night and the SA Reserve Bank’s decision to keep the interest rate the same.
Gold cost investors $945.27 an ounce at 12:00, reaching its highest level in a week after oil prices looked set to boost inflation, making the precious metal look like an attractive hedge investment.
International markets
US markets were relatively buoyant after Ben Bernanke, Chairman of the US Federal Reserve, survived some hard questions about the Merrill Lynch deal from Congress. The Dow Jones and the Nasdaq climbed 2.08% on gains from retailers, homebuilders and energy stocks.
The Nikkei rose 0.83% this morning, after Bridgestone improved its earnings predictions and Suzuki and Volkswagen were rumoured to be in talks over a possible merger.
The Hang Seng gained 1.78%, continuing its three-day rally as property and banking shares extended their gains after news that the US and China’s monetary policies will remain unchanged in the immediate future.
The British FTSE 100 gained 0.56% by midday, after mining stocks rose in line with increasing risk appetite from investors, and energy shares lifted on the back of firmer oil prices.
Share price news
Anooraq Resources Corporation was the biggest mover up at midday on Friday, as three deals boosted the share 11.43% to trade at R7.80. Also gaining was Merafe Resources Limited in the metals and minerals sector, whose 93 deals lifted the share price to R1.04 at 12:00, an increase of 7.22%.
Shares in Crookes Brothers Limited in the farming and fishing industry fell 10% after three deals left the share trading at R40.50 each. Investment bank Iquad group Limited lost 8.73% to trade at R2.51 a share just after midday.
JSE retreats after yesterday’s rally
Local markets
After yesterday’s late rally, the JSE All Share had retreated 0.69% by noon after resource stocks led the local bourse down into the red. However, gold mining, oil and gas related shares managed to hold onto small positive gains.
There was little action on the local currency market this morning as investors await news of the interest rate decision to be announced later today. The rand was stable at R8.07 to the US dollar at midday.
Oil was selling at $68 a barrel at 12:00, recovering 1.49% after a recent slide that came on news of rising US inventories and a steady dollar.
International markets
Yesterday, the Dow Jones lost 0.28% while the Nasdaq gained 1.55%. The Dow was hit by comments by the Federal Reserve that did not dispel anxiety about the state of the economy. Software maker Oracle announced better-than-expected results, which helped to boost technology shares.
In Japan, the Nikkei average rose 2.15%, reaching its highest level in more than a month. A weaker yen lifted exporters stocks and property shares rose on improving investor sentiment.
Hong Kong’s index, the Hang Seng climbed 2.14% on short-covering of financial stocks, and property stocks also gained on news of a continuation of low interest rates in the US.
The British FTSE 100 had lost 0.27% by 12:00 after lower raw materials prices took their toll on commodity stocks, and the US Federal Reserve remarks that the recession was lifting failed to instill optimism amongst UK investors.
Share price news
Jubilee Platinum PLC gained 14.22% after 26 deals boosted the share price to R4.90 at midday. Coal of Africa Limited rose to R10.79 a share after three deals lifted the share price by 7.79%.
Masonite Africa Limited in the building and construction materials sector fell 10.45% to R30 a share after just one deal. Once again in the news, Amecor in the electronic equipment sector lost 7.69%, falling to R1.20 a share also after one deal.
Bargain hunting boosts global markets
Local markets
At 12:00, gold mining and resources shares had gained 2.84% and 2.85% respectively, boosting the JSE All Share into a 1.31% recovery after yesterday’s losses.
The rand was trading at R8.10 to the US dollar at noon, remaining range-bound as traders await news of the local CPI figure due to be released this afternoon.
An ounce of gold cost $928.85, edging up 0.42% as investors prepare for the result of a meeting of the US Federal Reserve regarding interest rates.
International markets
The Dow Jones lost 0.19% and the Nasdaq slid 0.07% yesterday, as US markets continued to lament a weak economic recovery after housing statistics didn’t boost investor sentiment. The S & P 500, however, managed to hold onto a 0.23% increase.
In Asia, the Japanese Nikkei rose 0.43% this morning after investors bought up bargains. The Shanghai index rose 1.02% to reach its highest close in a year after gains in Chinese metal and steel shares. Hong Kong’s Hang Seng climbed 2.02%, though further gains were limited by investor caution ahead of the meeting of the US Federal Reserve.
Britain’s FTSE 100 had gained 0.20% by midday, as gains in mining and banking stocks overcame earlier losses due to weaker defensive shares.
Share price news
Huge Group Limited’s 18 deals boosted the share price 61.29% to trade at R1 at midday. Sovereign Food Investments Limited in the farming and fishing sector enjoyed gains of 9.83% in share price, as shares sold for around R9.50 after two deals this morning.
Avusa Limited in the media agency sector fell 5.66% after three deals took a hit on the share price, pushing it down to R18.50 a share at noon. Glenrand MIB Limited fell 4.55% to sell at R1.05 a share, also after just two deals. Glenrand issued a report of security dealings this morning by director AP du Preez, who bought R296 983,65 worth of shares.
World markets knocked by dive in the Dow
Local markets
By noon, the JSE All Share had fallen 1.68%, in line with yesterday’s avalanche on Wall Street. Taking most of the hit were gold mining and financial stocks, which slid 2.25% and 2.48% respectively by 12:00.
The rand was trading lower off yesterday’s levels after the dive in the Dow Jones plumped up the US dollar, which cost R8.21 at midday.
Oil was trading at $65.71 a barrel, gaining 1.09% despite the World Bank predicting a deeper recession this year with weak demand.
International markets
After a thorough rethink, investors concluded that now was not a good time to be in the market due to the delay in global economic recovery. Spurred on by weaker crude futures and commodities, shares were sold off across the board, leaving the Dow Jones down 2.35% and the Nasdaq down 3.35%.
The Nikkei lost 2.82% this morning as investors reacted to movements on US markets, and offloaded riskier shares in the anxiety over the world economy.
The Hang Seng fell 2.89% as lower energy and metals prices seemed to confirm doubts about the recovery of the global economy.
The FTSE 100 had inched up 0.34% by midday as gains in food retailers and pharmaceutical stocks more than offset losses due to increasing risk aversion amongst investors.
Share price news
Amecor in the electronic equipment sector gained 18.18% after one deal pushed the share price up to R1.30 at midday. African and Overseas Enterprises Limited in the soft goods sector lifted 12.50% to sell at R9 a share, also after one deal.
Rare Holdings Limited fell to R1.10 after a single deal pressured the share price by 34.91%. Builders merchants Illiad Africa Limited lost 12.78% after 111 deals took the share price down to R6.28. Illiad released a trading statement this morning announcing that that earnings and headline earnings per share are expected to be between 65% and 75% lower than the previous comparative period.
Global markets flat as caution prevails
Local markets
By midday on Monday, the JSE All Share had slipped 0.72% after beginning firmer on news of Xstrata’s initial proposal for Anglo American which lifted resource stocks. Losing ground were companies in the oil and gas, and gold mining sectors.
The rand was trading at R8.10 to the US dollar, weakening slightly as the euro weakened against the dollar. Analysts expect the rand to trade sideways this week, as local employment and consumer inflation data are to be released on Wednesday, and producer inflation data and interest rates to be announced Thursday.
Oil was selling at $67.07 a barrel at noon, sliding 2.80% as investors remain concerned about weak US demand, which signals the world’s largest economy is still trying to stabilize.
International markets
On Friday, the Dow Jones fell 0.19% after energy shares weakened on falling oil prices. The Nasdaq gained 1.09% as technology shares were boosted by positive broker comments about Microsoft.
The Japanese Nikkei edged up 0.41%, as investor concern about a market correction was overcome by strong gains in brewer Sapporo Holdings and Nissan Motor Co.
The Hang Seng lifted 0.77% this morning, coming off earlier gains as investors remained cautious before the US interest rates announcement later this week. Two IPO’s were pounced on by investors looking for new interest in the market.
The British FTSE 100 had fallen 1.07% by midday Johannesburg time, after energy and mining shares suffered at the hands of lower commodity prices. Further losses were limited by the Xstrata-Anglo American merger proposal.
Share price news
Anglo American PLC was the top mover upwards this morning, as investors bought on news of a possible merger of Anglo with Xstrata. Shares lifted 6.02% to sell at R229.90 a share at midday, after 3810 deals. Comair Limited continued on last week’s winning streak, gaining 4.40% by noon as shares traded at R1.90 after two deals.
Africa Cellular Towers lost 6.25% as shares fell to R1.05 after five deals. Metmar Limited in the non-ferrous metals sector fell 5.88% after nine deals pressured the price down to R4 a share at midday.
Positive US data boosts global markets
Local markets
The JSE All Share had inched up 0.6% by midday on Friday in line with international markets, despite the fact that companies in the oil and gas index had lost 5.58% and were weighing heavily on the local bourse.
The rand was stable at R8.11 to the US dollar after a quiet morning’s trade, staying at yesterday’s weaker levels which came after the dollar strengthened and a lower current account deficit was recorded.
Brent crude was selling at $70.54 a barrel, continuing yesterday’s gains after positive US economic data and Nigeria’s supply worries.
International markets
The Dow Jones closed higher by 0.69% yesterday, while the Nasdaq edged down 0.02%. For the most part stocks did well, after US employment and manufacturing data revived hopes of an economic recovery.
The Nikkei rose 0.85% this morning, though posting its worst week since March after cautious investors required more proof of economic recovery before engaging in significant buying.
The Hang Seng climbed 0.81% after investors were encouraged by positive economic data from the US. Further buying will have to wait until investors have seen 2nd quarter business and economic trends.
The FTSE 100 had gained 1.74% after rising oil prices lifted energy shares, and house-builder Taylor Wimpey released positive news which boosted investor sentiment.
Share price news
Jubilee Platinum gained 9.57% after yesterday’s losses, after ten deals boosted the share to R5.15 at noon. Rival platinum company Anglo American Platinum Corporation Limited rose 6.67% to trade at R160 a share after only one deal.
COM Comair Limited fell 7.50% to R1.85 a share after five deals, while Sasol Limited dropped to R280.89, a decrease in share price of 5.58% after an enormous 1661 deals. Sasol released a trading statement this morning that announced the company expects a 40-50% decrease in EPS and HEPS for this year.
JSE edges up after recovery in resource stocks
Local markets
The JSE All Share had recovered 0.41% by midday after yesterday’s losses, thanks to gains in gold mining and resource stocks. The local bourse seemed to ignore negative closes on key international markets for the moment.
The rand was trading at R8.11 to the US dollar at 12:00, staying within its range though the euro was firmer. Little movement is expected today or tomorrow due to the fact that no economic data is to be released.
Oil cost $70.10 a barrel at noon, rising 1.59% as traders compared stability in the dollar with positive data on US crude oil inventories and Chinese fuel exports.
International markets
The Nasdaq rose 0.66% yesterday after positive broker remarks boosted tech shares. However, the Dow slipped 0.09% and the S&P 500 lost 0.14% due to losses in financial shares and uncertainty surrounding the government’s proposals for banking reforms.
The Nikkei fell 1.39% this morning, after losses in banks and exporters weighed on the index. Investors decided to take profits while they could as economic recovery seemed a little less certain after some pessimistic corporate outlooks.
The Hang Seng slid 1.70%, adding a fourth day to three days of losses as rating downgrades for US banks and the continuing spread of swine flu increased investor anxiety.
The FTSE 100 had edged down 0.15% by noon, as losses in oil and banking shares overcame gains in mining stocks.
Share price news
Anooraq Resources Corporation enjoyed a 11.06%% gain as share prices climbed to R9.44 at 12:00 after four deals. Howden Africa Holdings Limited, makers of specialized fans, air and gas handling solutions, rose to R7.50 a share and gained 7.14% after one deal.
After 34 deals, investors in Jubilee Platinum PLC sold off their stocks leading to a loss of 10% which left the share price at R4.50 at midday. Palabora Mining Company Limited fell 6.79% to trade at R74.01 a share after one deal.
Losses in resources weigh on global markets
Local markets
Losses for companies in the oil and gas and basic materials sector weighed on the JSE All Share, which had lost 2.40% by midday. After being closed for a public holiday yesterday, the local bourse played catch up to international markets and took note of losses on US markets.
The rand was selling at R8.04 to the US dollar at 12:00, remaining within the range as potential signs of global economic recovery dim as economic data fails to fully support the turnaround.
Gold was trading at $932.85 an ounce at noon, slipping 0.12% after yesterday’s rally on international markets and seeking direction from the currency market.
International markets
The Dow Jones fell 1.25% and the Nasdaq lost 1.11% yesterday after investors were worried about mixed economic data and poor sales results. Though May’s housing statistics were fairly positive, industrial production fell by more than what was expected.
The Nikkei average finished 0.9% higher this morning, as Sanyo gained after releasing a statement saying it had managed to secure buyers for the hybrid-car batteries the company produces.
The Hang Seng slid 0.45% after losses in resource stocks pressured the index downwards, but a late rally in Chinese banking stocks limited some of the losses.
The FTSE 100 had fallen 1.27% by midday as mining stocks fell on reduced confidence in metals demand, accompanied by metal prices that continue to sit far below last year’s highs.
Share price news
Freeworld Coatings Limited in the specialty chemicals sector rose 4.8% to R6.55 a share after 27 deals resulted in a highly volatile morning’s trading. DRD Gold Limited enjoyed a 4.13% gain as share prices lifted to R6.80 at noon after 43 deals.
Shares in Wesizwe Platinum Limited dived 10.26% to a share price of R2.45 after 53 deals. Also on the downward march was Sovereign Food Investments Limited in the farming and fishing sector, whose 2 deals sent the share sliding 9.09% to trade at R8 a share at 12:00.
JSE quiet, global markets down as optimism fades
Local markets
At midday, the JSE All Share was down 1.49% as stocks across the board had edged into the red, following Asian markets. Resources led the downward slide. Traders don’t expect too much action today due to the ‘long weekend’, and this is confirmed so far by low trading volumes with little movement.
The rand was trading at R8.05 to the US dollar at noon, remaining range bound as little is expected in the way of international action. Some traders were taking profits as economic recovery hopes dim.
Oil was selling at $70.11 a barrel, up 0.16% though traders remain concerned that the recent rally is “too fast, too soon” and that supply and demand fundamentals aren’t matching the price hype.
International markets
Friday was a landmark day for the Dow Jones as it broke into the positive for the first time since the beginning of the year. The Dow closed at 0.32% while the Nasdaq lost 0.19%. Analysts expect investors to keep an eye on housing statistics and CPI figures due to be released this week.
Japan's Nikkei dropped 0.95% this morning after investors engaged in profit-taking. Losses were limited by gains in property stocks after the sector’s rating was lifted to neutral from being underweight thanks to rising positive sentiment and better credit markets.
Hong Kong shares lost 2.07% after three days of finishing in the black, after lower energy prices and profit taking took their toll on the Asian index.
The British FTSE 100 lost 1.95% by midday after a pull-back in mining and energy stocks, pressured by falling commodity prices.
Share price news
After just one deal, Anooraq Resources Corporation in the platinum sector rose 13.37% to trade at R9.75 at midday. Hospitality Prop Fund B in the real estate holdings and development sector gained 5.77% as a single deal boosted the share price to R16.50.
ARB Holdings Limited in the electrical equipment sector fell 15.79% to sell at R1.60 a share at midday, after four deals. Also in the platinum sector, Lonmin PLC lost 9.53% as shares fell to R174.51 after 248 deals. Lonmin reported today that its Number One furnace was shut down due to a matte run-out.
Global markets mixed, JSE flat ahead of weekend
Local markets
The JSE All Share had fallen 0.92% by midday, continuing yesterday’s slide with losses in every sector. Analysts predict little further action today as the rand is likely to keep weighing on the local market.
The rand was trading lower at R8.01 to the US dollar at noon, mainly influenced by a weaker dollar-euro exchange rate, though investors are likely to remain cautious ahead of the Confidence Index due to be released by the University of Michigan later today.
Gold was softer, trading at $949.50 an ounce at 12:00 after the dollar stabilized and equity markets rose, tarnishing the appeal of the precious metal as an alternative investment.
International markets
The Dow Jones closed 0.37% up and the Nasdaq finished 0.5% higher yesterday after positive retail sales and unemployment data boosted hopes for economic recovery, and oil and commodity stocks rose on higher prices.
In Japan, the Nikkei average rose 1.55% this morning after positive data from Japan and China heightened hopes for economic recovery and pre-empted buying across the board.
The Hang Seng lifted 0.52%, its third day in a row of positive gains as the index managed to offset losses due to the slide in Chinese shares. Banks led the upward movement on the back of optimistic US data.
The British FTSE 100 was down 0.02% at noon after Barclays’ $13.5 bn sale of Barclays Global Investors to BlackRock received mixed reactions from investors.
Share price news
The top mover up at midday was Central Rand Gold Limited, whose 4 deals hoisted the share up 15.85% to trade at R4.75. Amecor in the electronic equipment sector rose to R1.28 a share after 6 deals, a gain of 6.67%.
Junior mining and exploration company Thabex Exploration Limited fell to R1 a share at noon, a dive of 31.03% after a single deal. Decillion Limited, an investment bank, lost 9.09% after one deal took the share down to R2.
Markets flat as investors await US employment, retail data
Local markets
There were losses across the board for the JSE, with oil and gas shares leading the charge downward. By midday, the JSE All Share had fallen 0.82% as investors lacked direction after mixed Asian markets.
The rand was trading at R8.04 to the US dollar, staying range-bound as traders and analysts await US employment and retail data due later today.
Gold had edged up 0.09% by noon to trade at $953.85 an ounce as the precious metal was supported by hedge strategies and a rally in the oil price, reminding investors of the possibility of inflation.
International markets
On US markets yesterday, investors worried that higher interest rates would discourage spending both for businesses and consumers, causing shares to fall, though last-minute buying helped to offset further losses. The Dow Jones lost 0.27% and the Nasdaq slipped by 0.38%.
In Japan this morning, the Nikkei inched down 0.1% despite gains in steel stocks after a brokerage upgraded the sector, after investors were also concerned about the effect of rising US interest rates on their primary export market.
In Hong Kong, the Hang Seng finished marginally up by 0.03% after a moderately volatile trading session that left the index flat. Property stocks lost ground on rising interest rate anxiety.
Britain’s FTSE 100 had edged up by 0.29% at 12:00 as gains in pharmaceuticals, which came after Morgan Stanley upgraded the sector, just managed to overcome losses in oil and mining stocks.
Share price news
Amecor in the electronic equipment sector gained 33% after 14 deals took the share price up to R1.20 at midday. The company released their consolidated results this morning, in which turnover was reported to have increased by a massive 227%.
Ipsa Group, involved in the construction, development and operation of electricity generation assets and the supply of electricity, made news as the biggest mover downwards, as the share price dropped 13.79% to R1.25 at midday after just one deal.
The most active share in terms of volume was FSR Firstrand Limited, which had traded 4447224 shares by midday. Meanwhile BIL BHP Billiton took the lead in terms of value traded, losing R19 849.75 worth of shares by 12:00.
Positive investor sentiment boosts global markets
Local markets
Energy and resource stocks were up 3.50% and 2.33% respectively, and gold mining stocks down 1.26% by midday, leaving the JSE All Share 1.63% higher. The local bourse seemed to be taking direction from positive Asian markets.
Meanwhile, a weaker US dollar boosted the rand-dollar exchange rate, costing currency traders R8.05 by noon.
Oil prices reached their highest level so far this year, selling at $70.44 a barrel as investors continue to build a hedge against a falling US dollar and protect themselves against possible inflation.
International markets
US markets closed with mixed results yesterday, as the Dow Jones edged down by 0.02% while the Nasdaq gained 0.96% after technology stocks were boosted by a positive report from Texas Instruments.
The Japanese Nikkei average rose 2.09% this morning, as positive sentiment sent new funds into the market. Investors are eager for the index to reach the 10 000 mark, which could signal economic recovery.
The Hang Seng soared 4.03% as investors banked on China releasing positive economic data, allowing the index to offset some of the losses made over the last two days of trading.
The British FTSE 100 had lifted by 1.86% at 12:00, thanks to stronger commodity prices that once again served to boost mining and energy shares.
Share price news
Shares in Uranium One Incorporated rose 12.77% after 69 deals took the price up to R21.20 a share at midday. Clientele Limited in the life assurance sector lifted 7.69% to trade at R5.60 a share after a single deal.
Moving downwards was Huge Group Limited, an investment holding company that lost 11.50% to sell at R1 a share after 9 deals. Shares in Mutual & Federal Insurance Company Limited fell to R14.80 at noon, after one deal sent the price sliding by 6.03%.
Gains in gold miners and resources not enough to lift JSE
Local markets
By midday Tuesday, the JSE All Share had edged down by 0.29% as gains in resources and gold mining stocks were not enough to move the local bourse into positive territory after Monday’s losses.
R8.15 could buy investors a US dollar at noon, as the local currency strengthened against the dollar thanks to a firmer euro.
Precious metal gold was selling at $951.40 a fine ounce, increasing by 0.15% in line with its growing appeal as a hedge against inflation and a drop in the US dollar.
International markets
Positive sentiment managed to shift flat US markets yesterday just before their close, as investors saw dips as a chance to buy lower, especially for banking stocks. The Dow Jones inched up to close at 0.02% while the Nasdaq finished down 0.38% after lower iPhone prices affected Apple stocks.
In Japan, the Nikkei average fell 0.8% this morning, as exporter stocks moved off yesterday’s eight-month high and lower metals prices pummeled commodity-related stocks. Smelters also fell after last week’s rally as investors booked profits.
In Hong Kong, the Hang Seng index lost 1.07% after investors felt the market was oversold after the rallies in recent weeks.
In Britain, the FTSE 100 had gained 0.25% by noon, after higher commodity and oil prices boosted mining and oil stocks. Bank shares also enjoyed slight gains.
Share price news
Platinum producer Anooraq Resources Corporation lifted 11.11% in share price to trade at R10 a share at midday, after only two deals. Comair Limited in the airlines and airports sector gained 10.53% to trade at R2.10 a share, also after two deals.
Once again in the news, Silverbridge Holdings Limited fell to R1.80 a share, losing 7.69% in share price. After 47 deals, African Dawn Capital fell to R1.95 a share, a loss of 7.14% in share price.
JSE follows global markets down
Local markets
By noon on Monday, the JSE All Share had slipped 1.66%, joining the Asian markets in the red after last week’s rally. Basic materials stocks lost 3.17%, leading the downward slide.
The rand was trading at R8.17 to the US dollar at midday, after the American currency strengthened. Analysts suggest that the exchange rate is likely to react to US retail data due out this week.
Oil was selling at $66.79 a barrel, losing 1.78% and bringing an end to a rally that almost doubled the oil price over the last four months.
International markets
US markets were flat on Friday; the Dow Jones closed 0.15% up and the Nasdaq finished 0.03% down as investors struggled to read the mixed signals sent by May’s employment data.
The Japanese Nikkei average finished 1% higher this morning, reaching its highest close in eight months as investors interpreted US jobs data positively as a sign of economic recovery. Exporters were lifted by a weaker yen.
The Hang Seng lost 2.28% at its close this morning, as investors reacted conservatively to the mixed signals from US employment data and booked profits while they wait for more economic data from China and the US later this week.
Britain’s FTSE 100 had fallen 1.11% by midday, after weaker commodity prices weighed on energy and mining stocks. Negative sentiment also pressured banks lower.
Share price news
Silverbridge Holdings Limited rose to R2 a share just after midday, a gain in share price of 33.33% after two deals. Uranium One Incorporated gained 10.07% after 80 deals to trade at R16.40 a share.
Enterprise Risk Management Limited fell 13.33% to sell at R1.30 a share at 12:04. After 29 deals, Coal of Africa lost 12.66% to cost investors R11.25 a share after the company announced earlier today that it had successfully commissioned the Coal Handling and Preparation Plant at its Mooiplaats Colliery in Mpumalanga.
Resources boosted by Rio Tinto – BHP Billiton joint venture
Local markets
Stronger resource stocks pulled up the JSE All Share, as the local bourse rose 1.77% by midday on news of a joint venture between BHP Billiton and Rio Tinto. Limiting further gains were gold mining shares, which had lost 1% by noon.
Amongst currency traders, all eyes were on US employment data, letting the rand slide slightly to trade at R8.07 to the dollar.
By noon, the gold price had dropped 0.32% to sell at $975.85 an ounce, as investors also awaited US jobs data to give a sign of whether the world’s largest economy is on the road to recovery.
International markets
Mixed information such as a rise in productivity alongside weak consumer spending left US markets fairly unchanged yesterday. The Dow Jones rose 0.86% and the Nasdaq lifted 1.32% at close of trade.
The Japanese Nikkei climbed 1.02% this morning, reaching its highest close in eight months as energy and resource stocks rose on the back of higher commodity prices boosted by some positive data from the US.
The Hang Seng finished 0.96% higher, as energy stocks lifted the Hong Kong index thanks to high crude oil prices. Electricity producers rose after an increase in coal contract prices in two Chinese provinces was given the green light.
The FTSE 100 had risen 1.39% by 12:00, as mining stocks gained on news that Rio Tinto’s joint venture with BHP Billiton would be replacing a proposed $19.5 billion deal with Chinalco.
Share price news
After just two deals, Trans Hex Group Limited in the diamond sector gained 25.13% to sell at R2.49 a share at 12:00. Picking up after a slump earlier in the day, Jubilee Platinum continues on its recent rally, rising 20% to trade at R7 a share after a busy 183 deals.
Speciality chemicals company Freeworld Coatings Limited lost 4.61% after five deals left the share at R6 by noon. Mazor Group Limited in the building and construction sector fell to R2.32 a share, losing 4.13% after just one deal.
JSE, global markets continue to dip
Local markets
Shadowing movements on international markets, the JSE had fallen 0.63% by midday on Thursday. Weighing down the local bourse were gold mining and resources stocks, while financial shares managed to buck the downward trend.
A US dollar cost R8.04 at noon as the rand strengthened slightly against the American currency. Traders anticipate a further strengthening today if commodity stocks recover as expected.
Oil cost $66.68 a barrel at 12:00, recovering 2.58% after a recent slide that came after news of high US inventory stocks.
International markets
Yesterday the Dow Jones closed 0.75% lower, accompanied by a 0.59% fall in the Nasdaq. Gloomy economic data regarding the US service sector neutralized hopes for an early recovery, and falling oil prices took a toll on energy stocks.
The Nikkei fell 0.75% early this morning, ending a six-day rally after shipping stocks lost their hold as poor economic data from the US dulled hopes for a global recovery.
Also reacting to the US news was Hong Kong’s Hang Seng, which slipped 0.4% as investors sought bargains before close of trade. Falling oil prices pressured the index, harming energy stocks, and property stocks also took a blow.
One of the few gainers around the world, the FTSE 100 had edged up 0.39% at midday as oil, bank and insurance stocks rose. Investors were keeping a watchful eye out for the Bank of England’s monetary policy review to be released later this afternoon.
Share price news
Investment bank Iquad Group Limited gained 9.09% by noon after one deal pushed the share price up to R3. Once again amongst the top movers up was Jubilee Platinum PLC, which after 35 deals had risen 7.32% to R4.40 a share after a staggered morning’s trading.
Mutual & Federal Insurance Company Limited fell 8.82% after seven deals to trade at R15.50 a share at 12:00. Aquarius Platinum Limited slid 6.43% to sell at R36.95 a share after fifteen deals.
Positive US housing data boosts global markets
Local markets
Initially tracking positive movements on US and Asian markets, the JSE All Share had slipped 1.07% by midday. Leading the downward movement were resource and financial stocks.
The rand was trading at R8.04 to the US dollar at noon, continuing to hover around the R8 mark as the dollar slides in response to returning optimism about the global economy and risk appetite increases.
An ounce of gold cost $981.20 as investors sought a hedge against the inflation expected as the dollar continues to depreciate. Demand for gold is on the rise, following hopes of a recovery in the global economy which will spur sales of electrical equipment and other products that use gold as an input.
International markets
The Dow Jones finished 0.22% higher and the Nasdaq rose 0.44% yesterday, boosted by positive housing data. Further gains were limited by a drop in financial stocks as investors were concerned about the dilutive impact of share offerings in the past few days.
Japan’s Nikkei average lifted 0.38% this morning after gains in resources and shares linked to the production of semi-conductors, which came after positive US housing data that boosted hopes for global economic recovery.
The Hang Seng inched up 1.02% as Hong Kong investors also felt inspired after the good news of US housing sales, which managed to offset profit-taking after the index’s recent rally.
The British FTSE 100 had lost 1.9% by midday Johannesburg time as commodities and banks fell, alongside companies that went ex-dividend, such as Vodaphone.
Share price news
First Uranium Corporation in the non-ferrous metals sector gained 17.19% to sell at R30 a share at midday after two deals sent the share soaring. Also moving upwards was Witwatersrand Consolidated Gold Resources Limited rose to R85 a share, gaining 7.59% after nine deals.
Silverbridge Holdings Limited fell 9.09% after a single trade to sell at R1.50 a share at noon. Also falling was Italtile Limited, whose shares lost 6.72% to cost investors R2.50 a share after two deals.
JSE slips after recent rally
Local markets
Midday on Tuesday, the JSE All Share had lost steam after several sessions of gains, slipping 0.46% as investors believed that the gains could not be sustained for much longer after technical highs were reached. Declining oil and gas and basic materials stocks weighed on the local bourse.
The rand was trading at R8.09 to the US dollar at noon, strengthening slightly after the euro weakened against the American currency, despite a surprising remark by Reserve Bank Governor Tito Mboweni that the rand strength was doing the economy a disservice.
Oil was selling at $67.08 a barrel, continuing to rise 1.64% as investors expect an economic recovery to come from a world-wide fiscal stimulus.
International markets
Comforting economic data bolstered US markets yesterday, while GM’s bankruptcy filing removed uncertainty as to the outcome for the company. The Dow Jones rose 2.60% and the Nasdaq lifted 3.06% as investors believed that it was likely that demand would stabilize sooner than expected.
The Japanese Nikkei edged up 0.27% this morning, once again reaching its highest level in eight months at its close. Car makers rose after GM’s uncertainty fell away, as did technology stocks after US data showed a positive outlook for the economy.
The Hang Seng lost 2.64% as investors sold off expensive blue chip shares and consolidated their gains after a recent rally. Chinese stocks listed on the Hong Kong index gained thanks to much liquidity.
The FTSE 100 had fallen 1.22% by 12:00, as banks declined after a major shareholder sold its holding in Barclays, and energy stocks offset recent gains.
Share price news
Vehicle distributor Combined Motor Holdings Limited rose to R6.99, a gain of 11.84% after one deal. After 58 deals, Jubilee Platinum PLC rose 10.19% to sell at R4 at noon.
In the electrical equipment sector, South Ocean Holdings fell 19.20% to cost investors R1.01 a share at midday after the company released a no change statement. Investment bank Brait SA slid 6.57% this morning after 1 deal pressured the share price down to R14.50.
Global markets gain as investor sentiment improves
Local markets
The JSE All Share had risen 2.30% by midday, following movements on Asian markets as basic materials and oil and gas stocks gained 3.64% and 1.81% respectively.
The rand was trading at R7.93 to the US dollar at 12:00 as the US currency weakened slightly. US data is expected to affect risk appetite and the rand-dollar exchange rate.
Gold cost investors $986.40 an ounce, lifted by a weakening dollar and risk aversion as investors attempted to hedge against global inflation.
International markets
The Dow Jones closed 1.15% higher and the Nasdaq rose 1.29% on Friday, after stronger commodity prices boosted resource stocks and a weakening dollar encouraged interest in multinational corporations.
The Nikkei average finished 1.63% up this morning, after resource shares and shipping stocks rose on rumours of a recovery in Chinese demand.
The Hang Seng soared 3.95% to reach an eight-month high, after Hong Kong shares rose in response to new data from China that suggest a quicker economic recovery than expected.
The FTSE 100 had gained 1.78% by noon as oil and metal prices lifted commodity stocks as a result of improved investor sentiment about a global economic recovery.
Share price news
Mustek Limited in the computer hardware rose to R1.30 a share at midday, gaining 27.45%. Also amongst the top movers up was Jubilee Platinum, climbing 14.75% to sell at R3.50 a share.
Not doing as well was Ellies Holdings, whose shares fell 7.34% to trade at R1.01 at noon. Palabora Mining Company Limited in the non-ferrous metals sector slid 6.74% to R76.01 a share.