XML Feeds

What is RSS?

Categories

Top Rated

    Weaker resources weigh on JSE

    Local markets

    At noon on the last Wednesday of 2009, the JSE All Share was down 0.92% with losses across the board, with the exception of the gold mining sector. The local bourse was weighed on by weaker basic materials and oil and gas stocks.

    The rand had strengthened to R7.39 to the US dollar at midday. Analysts expect the minimal number of traders to ignore the local trade data to be released this afternoon, which otherwise might have had an effect on the rand.

    Brent crude oil cost $77.28 a barrel at 12:00, gaining 1.68% as investors continued to hope for economic recovery despite a stronger dollar.

    International markets

    Yesterday, the Dow Jones edged up 0.24% and the Nasdaq held on to a 0.12% rise, as disappointment at October’s flat house prices was more than offset by rising consumer confidence in December.

    In Japan, the Nikkei slid 0.86% this morning, retreating after hitting a four-month high when exporter stocks were boosted by a weaker yen.

    In Hong Kong, the Hang Seng closed 0.01% lower, as losses in Chinese bank and insurance stocks just managed to overtake gains in energy stocks and others that came after investor confidence improved.

    Britain’s FTSE 100 had inched 0.24% lower by noon, consolidating after yesterday’s record gains.

    Share price news

    Fairvest Property Holdings Limited (share code: FVT) rose to R1.10 at 12:00, an increase in share price of 19.57% after two deals exchanged 764 shares. First Uranium Corporation (share code: FUM) gained 18.75% to sell at R19 a share, after two deals traded 10 000 shares.

    Hosken Consolidated Investments (share code: HCI) fell to R68.50 a share at noon, after eight deals saw the exchange of 36 000 shares, resulting in a loss of 4.85%.
    In the restaurants and pubs sector, Spur Corporation Limited (share code: SUR) dropped 3.58% to trade at R10.51 a share, after five deals exchanged 15 490 shares.

    Permalink2009-12-30, 12:22:27, by Natalie Email , Leave a comment

    Global markets flat as investors slowly return

    Local markets

    At noon on Tuesday, the JSE All Share had dipped 0.25%, with slight losses across the board except for the oil and gas index, which managed to remain in the black.

    The rand was stronger against the US dollar, trading quietly at R7.41 by 12:00 while the greenback remained within a range.

    Gold was selling at $1104 an ounce, sliding 0.27% by midday in thin trade as investors started to trickle back from the holidays.

    International markets

    On US markets, the Dow Jones rose 0.26% and the Nasdaq lifted by 0.24% yesterday, as retailers gained on news that consumer spending had improved, which offset losses in airline shares after security concerns.

    The Nikkei average closed flat at 0.04% up, though reaching its highest level in four months. Rising oil and metal prices boosted Japanese trading company shares.

    The Hang Seng inched up 0.09%, overcoming earlier losses as gains in Hong Kong property stocks dominated the session’s thin trade.

    The FTSE 100 had edged up 0.43% by noon SA time, reaching levels as were seen before the Lehman Brothers’ collapse last year.

    Share price news

    Brimstone Investment Corporation Limited (share code: BRT) gained 8% by midday to trade at R8.10 a share, after one deal of 1 000 shares. Electrical equipment company South Ocean Holdings Limited (share code: SOH) rose to R1.50 a share, an increase in share price of 7.14% after five deals exchanged 32 863 shares.

    Losing ground was Fortress Income Fund Limited (share code: FFB ) whose shares fell 8.84% to trade at R1.65, after one deal of 150 shares. In the business support services sector, Metrofile Holdings Limited (share code: MFL) sank to R1.30 a share, a loss of 7.14% after a single deal of 263 shares.

    Permalink2009-12-29, 12:14:27, by Natalie Email , Leave a comment

    Trade quiet after Christmas weekend

    Local markets

    At midday on Monday, gains in the oil & gas and basic materials sectors led the JSE All Share upwards slightly by 0.55%, following movements on Asian markets.

    The rand was selling at R7.52 to the US dollar at 12:00, weakening fractionally after the dollar strengthened after the Christmas holiday. Liquidity continued to be thin.

    Oil cost $75.86 a barrel, rising 1.15% as the US gave signs of economic recovery, including plunging oil inventories.

    International markets

    US markets were closed on Friday for Christmas day.

    In Japan, the Nikkei average gained 1.33% this morning, after exporter stocks rose and department store Takashimaya Co. Ltd. received a boost after news that it would retain its profit forecast for the year.

    In Hong Kong, the Hang Seng lost 0.17% as property stocks took a knock after the government land auction did not perform as well as anticipated.

    In Britain, the FTSE 100 was closed for a bank holiday.

    Share price news

    In the lead at midday was South Ocean Holdings Limited (share code: SOH) in the electrical equipment company, whose shares sold for R1.50 each, a gain of 7.14% after two deals exchanged 4 000 shares. In the forestry sector, York Timber Holdings Limited (share code: YRK) rose to R2.81 a share after one deal of 79 shares, boosting the share price by 6.04%.

    Village Main Reef Gold Mining Company Limited (share code: VIL) fell to R1.01 a share at noon, a drop of 8.18% after one deal of 250 shares. Metals and minerals firm Petmin Limited (share code: PET) dipped 5.13% after five deals saw the exchange of 10 946 shares, causing the share price to drop to R1.85.

    Permalink2009-12-28, 13:00:45, by Natalie Email , Leave a comment

    Positive US housing sector stats boost global markets

    Local markets

    In the run up before the Christmas holidays, the JSE All Share had risen 0.28% by midday on Wednesday, led upwards by small gains almost across the board.

    The rand was selling at R7.74 to the US dollar at noon, slightly weaker as the dollar steadied and gold prices rose.

    Brent crude oil cost $73.05 a barrel, climbing by 2.89% in line with a stronger US dollar.

    International markets

    On US markets yesterday, the Dow Jones inched up 0.49% while the Nasdaq rose 0.67%, after a lift in home sales figures showed a stabilization in housing, and increased investor confidence in economic recovery.

    The Japanese Nikkei average was closed this morning for a public holiday.

    In Hong Kong, the Hang Seng closed 1.12% higher, overcoming earlier losses when property stocks received a boost from the expectation of positive results in next week’s land auction.

    In the UK, the FTSE 100 had gained 0.84% by noon SA time, taking direction from positive US markets after optimistic housing sector news. Banking and commodity shares led the UK bourse upwards.

    Share price news

    EOH Limited (share code: EOH) in the computer services sector rose to R9.90 a share at midday, an increase in share price of 7.61% after two deals totaling 4 500 shares. Coal company Hwange Colliery Company Limited (share code: HWA) gained 6.45% to sell at R3.30 a share, after one deal of 10 shares.

    Losing more ground today was Comair Limited (share code: COM), which fell to R2.25, a loss of 6.25% after one deal of 10 000 shares. Metals and minerals firm Petmin Limited (share code: PET) slid 6.19% to trade at R1.82 a share, after two deals exchanged 11 100 shares.

    Permalink2009-12-23, 12:36:15, by Natalie Email , Leave a comment

    JSE follows Asian markets up

    Local markets

    Tuesday at noon saw the JSE All Share up 0.64% as shares gained across the board in line with positive closes on Asian markets.

    The rand was trading at R7.69 to the US dollar, steadying after strength in the American currency as trade continued to be thin.

    Oil cost $72.46 a barrel, retreating 0.74% after earlier gains as investors grew cautious ahead of the release of US crude inventory data and the OPEC meeting today in Luanda, Angola.

    International markets

    Yesterday, the Dow Jones rose 0.82% and the Nasdaq climbed 1.17% after the US Senate allowed a healthcare reform bill to advance, and two firms enjoyed a brokerage upgrade after their profit futures looked promising.

    The Nikkei reached its highest close in three months this morning, gaining 1.91% after exporters were boosted by a weaker yen, and news that Isuzu might develop new diesel engines for General Motors.

    The Hang Seng secured a 0.69% gain after banking stocks led Hong Kong shares upwards, bring the last five days of losses to an end.

    In the UK, the FTSE 100 had edged up 0.63% as rising oil prices gave support to energy shares, and investors awaited third quarter GDP figures with confidence.

    Share price news

    Illovo Sugar Limited (share code: ILV) was the top mover upwards at midday, rising 4.10% to sell at R31.23 at noon, after 49 deals traded 47 986 shares. Gold miner Simmer and Jack Mines Limited (share code: SIM) rose to R1.54, an increase of 4.05% after 148 deals exchanged 1 659 273 shares.

    Electronic equipment firm Amecor (share code: AER) fell to R1.15, a slide of 8% after one deal of 120 shares. Comair Limited (share code: COM) lost 6.52% as shares tumbled to R2.15 each, after a single deal of 1 000 shares.

    Permalink2009-12-22, 12:28:38, by Natalie Email , Leave a comment

    Trade flat as JSE seeks direction from US markets

    Local markets

    At midday on Monday, the oil and gas sector had gained 1.90%, helping the JSE All Share edge up 0.22% by noon in a flat morning’s trade.

    The rand had slipped to R7.64 to the US dollar at 12:00, amidst thin trade. Analysts expect the local currency to weaken slightly further in today’s session.

    Brent crude cost $73.28 a barrel, rising 1.78% as investors awaited news from this week’s OPEC meeting, in which production levels are expected to be kept the same.

    International markets

    On Friday, the Dow Jones finished 0.2% up as the stronger dollar limited equity gains, while the Nasdaq rose 1.45% after good quarterly results from Oracle and Research In Motion.

    This morning, the Nikkei closed 0.41% up after a weaker yen boosted exporter stocks, and tech stocks climbed following gains in US rivals last week.

    The Hang Seng fell 1.08%, as Hong Kong stocks extended losses to a fifth consecutive day after banking shares continued to lose ground due to their exposure to Dubai’s debt.

    The FTSE 100 had inched up 0.62% by noon, as banking shares recovered from Friday’s losses and oil stocks gained.

    Share price news

    Containers and packaging firm Bowler Metcalf Limited (share code: BCF) rose to R6.60 a share at midday, a gain of 10% after one deal of 650 shares. Construction firm ELB Group Limited (share code: ELR) gained 9.09% after four deals exchanged 2 500 shares, boosting the share price to R12.

    Lonrho Africa PLC (share code: LAF) fell to R1.25, a loss of 10.71% after two deals traded 2 990 shares. IPSA Group Limited (share code: IPS) lost 8.11% as shares slid to R1.70 each at noon, after 4 deals saw the exchange of 10 102 shares.

    Permalink2009-12-21, 12:19:23, by Natalie Email , Leave a comment

    JSE flat after mixed morning’s trade

    Local markets

    At midday on Friday, the JSE All Share had edged 0.02% down after a mixed morning’s trade for the sectors, taking direction from weaker US markets.

    The rand was trading at R7.51 to the US dollar, strengthening fractionally as investors took their positions ahead of the Christmas holiday, but analysts predict that the rand will remain range bound for the rest of the session.

    Oil cost $72.94 a barrel at 12:00, up 2.73% after reports that Opec could leave production levels unchanged at its meeting next week.

    International markets


    Yesterday, the Dow Jones fell 1.27% and the Nasdaq slipped 1.22% as risk appetite declined after the dollar strengthened, and transportation shares and financial services stocks dipped after profit and earnings forecasts for bellwethers were glum.

    The Nikkei average edged down 0.21% this morning, led by losses in banking stocks which came after news that stricter capital rules would be enforced.

    The Shanghai index lost 2.05% and the Hang Seng slipped 0.8%, led by losses in banks and property stocks which came after proposals for stricter banking regulation and the buying of government land.

    The FTSE 100 was 0.21% up at noon, recovering after yesterday’s dramatic falls, led by energy and mining shares, which offset losses in banks.

    Share price news

    Soft goods retailer African and Overseas Enterprises Limited (share code: AOVP) rose to R7.30 after two deals of 1 400 shares, a boost of 6.57% in share price. Hosken Consolidated Investments Limited (share code: HCI) rose 6.43% to trade at R69.50 after four deals totaling 5 300 shares at noon.

    Wesizwe Platinum Limited (share code: WEZ) fell to R1.98 a share at midday, a loss of 7.91% after 20 deals exchanged 227 542 shares. Argent Industrial Limited (share code: ART) lost 6.49% after 970 493 shares were exchanged in 12 deals, sending the share price sliding to R8.65.

    Permalink2009-12-18, 12:39:24, by Natalie Email , Leave a comment

    Gains in oil and gas stocks help lift JSE

    Local markets

    Thursday midday saw the JSE All Share up 0.36%, with gains in the oil and gas sector leading the upward climb after yesterday’s public holiday.

    The rand was trading at R7.47 to the US dollar at noon, weakening fractionally in line with the euro, as the dollar strengthened.

    Oil cost $72.92 a barrel at 12:00, recovering 1.28% as the unexpectedly large drop in US oil inventories began to offset losses due to dollar strength against the euro.

    International markets

    On US markets, the Dow Jones finished 0.1% down while the Nasdaq rose 0.27% yesterday, after the Federal Reserve assured investors that it will leave interest rates low to encourage economic recovery.

    The Japanese Nikkei index slipped 0.13% this morning, down from a seven-week high reached earlier in the session as investors booked profits from the banking sector rally.

    The Hang Seng closed 1.22% lower after losses in Hong Kong banking stocks, which came on the back of worries that there will be more fund outflows.

    The FTSE 100 had dipped 0.48% by midday SA time, as investors acted cautiously in the midst of falling copper prices, which dented mining stocks, and banking stocks also took a hit.

    Share price news

    DRD Gold Limited (share code: DRD) rose 9.13% to sell at R4.54 at 12:00, after 130 deals exchanged 656 824 shares. Investment company Hosken Consolidated Investments Limited (share code: HCI) gained 7.36% to trade at R69.25 at noon.

    Illiad Africa Limited (share code: ILA) in the builders merchants sector fell to R8.15, a loss of 6.32%. Oil company Oando PLC (share code: OAO) lost 6.25% after one deal of 908 shares, to sell at R6 a share at noon.

    Permalink2009-12-17, 12:27:07, by Natalie Email , Leave a comment

    Lack of international direction sees JSE flat

    Local markets

    Just past midday at 12:08, the JSE All Share was 0.13% down after opening flat in subdued trade. The local bourse floundered in the absence of international direction, pressured by losses in the oil and gas sector.

    The rand was trading at R7.47, weakening slightly against the US dollar amidst local news of more non-farm job losses in the third quarter.

    Gold was selling at $1117.37, slipping 0.5% after initially holding steady on improved risk appetite after news of Dubai's debt bailout.

    International markets

    The Dow Jones inched up 0.28% and the Nasdaq lifted 0.99% yesterday after Abu Dhabi came to Dubai’s rescue. US stocks were also boosted by news of a potential takeover deal by Exxon Mobil Corp.

    The Nikkei lost 0.22% this morning as Japanese exporter shares were damaged by a strong yen, and investors traded warily before a Federal Reserve meeting.

    The Shanghai index fell 0.86% and the Hang Seng lost 1.23% after further slides in banking and property stocks, which came after fears that China could implement measures to cool activity in the financial sector.

    Britain’s FTSE 100 was 0.35% down as banks declined on investor caution ahead of UK and US data.

    Share price news

    In the mining sector, Sephaku Holdings Limited (share code: SEP) rose to R4 after one deal of 750 shares, a gain of 6.67%. In the real estate investment trust sector, Fortress Income Fund Limited gained 6.25% to trade at R1.70 a share, after two deals exchanged 50 000 shares.

    Telemaster Holdings Limited (share code: TLM) fell to R1.74 after one deal of 4 000 shares lost the company share price 5.95%. In the gold mining sector, Simmer and Jack Mines Limited (share code: SIM) lost 4.97% to sell at R1.72 just after midday.

    Permalink2009-12-15, 12:55:08, by Natalie Email , Leave a comment

    Abu Dhabi bails out Dubai for $10bn; JSE edges up

    Local markets

    The JSE All Share was 0.27% up at 12:00, with industrial stocks gaining while oil and gas and gold mining shares slipped. Investors took heart from news that Dubai had received a bailout of $10bn from Abu Dhabi.

    The rand was trading at R7.49 to the US dollar at noon, lifted by increasing risk appetite that saw the dollar dip and Asian shares rise.

    Oil cost $71.56 a barrel, managing to remain up 0.79% after earlier losses came on investor concerns over weak fuel demand and rising inventories.

    International markets

    On US markets on Friday, the Dow Jones edged up 0.63% though further gains were offset by strength in the U.S dollar. The Nasdaq slipped 0.03%, in response to a fall in shares of large cap technology companies.

    The Nikkei average slid 0.02%, though recovering slightly from earlier losses after news of Dubai’s bailout by Abu Dhabi, which soothed investor anxiety about global economic recovery.

    China’s Shanghai index rose 1.71% while Hong Kong’s Hang Seng gained 0.84%, led upwards by banking and energy stocks after the report of Dubai’s bailout.

    The FTSE was 1.09% higher at noon on gains from banks after the news from Dubai.

    Share price news

    CIC Holdings Limited (share code: CCI) rose to R1.35 a share at midday, an increase of 8% after one share was sold in one deal. 1Time Holdings Limited (share code: 1TM) gained 7.14% to sell at R1.05 a share, after 3 deals exchanged 14 148 shares.

    Diamondcorp PLC (share code: DMC) fell to R1.20, a drop of 28.57% after one deal of 10 000 shares. Ceramic Industries Limited (share code: CRM) in the building and construction materials sector declined 11.68% to trade at R100 at 12:00, after just one deal of 322 shares.

    Permalink2009-12-14, 12:30:11, by Natalie Email , Leave a comment

    JSE follows US, Asian markets up

    Local markets

    Friday midday saw the JSE All Share up 0.86%, led by gains in the basic materials sector. Investor confidence increased after positive closes on international markets.

    The rand was trading at R7.52 to the US dollar at noon. Analysts expect the local currency to continue trading within a range as markets quiet ahead of the end-of-year holidays.

    Oil was selling at $72.02 a barrel, up 0.4% as the commodity found support from Chinese industrial growth figures.

    International markets

    The Dow Jones edged up 0.67% and the Nasdaq lifted 0.33% yesterday, as investor sentiment was buoyed by improved unemployment statistics and a lower trade deficit for October.

    In Japan, the Nikkei climbed 2.48% this morning after the yen fell against the dollar, and positive US employment data was released, boosting exporter stocks.

    The Hang Seng closed 0.93% higher, halting the past five sessions of losses as property and bank stocks rose on the back of positive economic data for mainland China in November.

    The FTSE 100 had risen 1.06% as the UK index took direction from US and Asian markets, with mining and energy stocks finding support from optimistic Chinese industrial data.

    Share price news

    In the telecommunications equipment sector, Foneworx Holdings Limited (share code: FWX) had risen 10.64% to R1.04 a share at 12:00. Traders exchanged 10 000 shares in two deals. 1Time Holdings Limited (share code: 1TM) gained 5% to sell at R1.05, after 35 000 shares were sold in one deal.

    Media agency Avusa Limited (share code: AVU) fell to R17 a share at noon, a loss of 5.56% after one deal of 5 000 shares. Cipla Medpro SA Limited (share code: CMP) in the pharmaceuticals sector fell 4.8% to R4.76, as six deals saw the exchange of 16 068 shares.

    Permalink2009-12-11, 12:12:39, by Natalie Email , Leave a comment

    JSE flat, global markets mixed

    Local markets

    At midday on Thursday, the JSE All Share had lost 0.28% in a flat morning’s trade, with losses across the board with the exception of gold mining stocks, which had recovered 1.11%.

    The rand was trading at R7.55 to the US dollar, weakening slightly, though this may change depending on the reaction of investors to the third quarter current account data, released at 11:00.

    Gold was selling at $1125.90 an ounce, slipping 1.32% after investors took profits after its recent rally.

    International markets

    Yesterday, the Dow Jones edged up 0.5%, while the Nasdaq rose 0.49%. US stocks were boosted by a falling dollar and increasing risk appetite, which spurred gains in financial, tech and commodity stocks.

    The Nikkei fell 1.42%, retreating strongly after recent gains, as investor confidence was knocked by overseas debt problems and exporters took a hit from an appreciating yen.

    In China, the Shanghai index rose 0.45% after Beijing decided to further incentivize domestic demand, which encouraged buying of consumer sector stocks.

    The FTSE 100 had risen 0.29% after a slide in energy and food retail shares offset gains in gold mining stocks. The losses came after news of Spain’s rating outlook cut.

    Share price news

    Erbacon Investment Holdings Limited (share code: ERB ) rose to R1.80 a share at noon, a gain of 9.09% after 500 shares were exchanged in one deal. Keaton Energy Holdings Limited (share code: KEH) gained 6.09% to sell at R5.75 after a single deal bought 3 000 shares.

    In the farming and fishing sector, Afrocentric Investment Corporation Limited (share code: ACT) fell to R1.41 after two deals of 11 308 shares, a loss of 11.88%. KAP International Holdings (share code: KAP) lost 9.52% to sell at R1.90 at midday, after one sale of 780 shares.

    Permalink2009-12-10, 12:22:25, by Natalie Email , Leave a comment

    Evidence of global economic recovery thin, markets fall

    Local markets

    Weighed down by losses in the gold mining sector, the JSE All Share had dipped 0.91% by midday, though oil and gas managed to cling on to flat trade while other sectors declined, taking direction from international markets.

    A US dollar cost local traders R7.57, as the rand strengthened slightly this morning after losing ground yesterday as risk appetite dimmed.

    Brent crude cost $75.64 a barrel, up 0.85%, boosted by a large fall in US oil inventories, as well as Saudi Arabia's assurance regarding the health of Gulf economies.

    International markets

    The Dow Jones fell 1% yesterday, while the Nasdaq slid 0.76% after a pessimistic outlook from 3M and poor sales for McDonald’s Corp. The stronger US dollar did not help matters, as investors sold out in favour of safe-haven assets to avail themselves of Dubai-debt risk.

    In Japan, the Nikkei average fell 1.34% this morning, as the yen lifted in response to Dubai and Greece’s debt problems, which weighed on exporters. A revised GDP figure indicated that Japan's recovery was slowing down.

    China’s Shangahi index gave up 1.73%, and Hong Kong’s Hang Seng lost 1.44% as investor confidence dwindled after more news of share issues and fundraising by banks.

    Britain’s FTSE 100 had slipped 0.45% by noon, as investors continued to be wary after yesterday’s sell-off, spurred by more Dubai debt worries and awaiting the UK pre-budget report.

    Share price news

    In the forestry sector, York Timber Holdings Limited (share code: YRK) rose to R3.10 a share at noon, a gain of 12.73% after 11 deals exchanged 23 937 shares.
    AMECOR (share code: AER) in the electronic equipment sector gained 8.33% to sell at R1.30 a share, after two deals traded 17 100 shares.

    Erbacon Investment Holdings Limited (share code: ERB ) lost 13.16% as shares fell to R1.65 after 5 000 shares were sold in one deal. After 308 deals totaling over 4.5 million shares, Merafe Resources Limited (share code: MRF) slid to R1.14 a share at midday, a loss of 7.32%.

    Permalink2009-12-09, 12:35:39, by Natalie Email , Leave a comment

    Commodities buoy markets again as the dollar loses momentum

    Local Markets

    Trade was fairly thin during the morning session today. An improvement in commodity prices saw commodity stocks gain some upward momentum. Each session seems to be dominated by the movement in resources nowadays but focus is now turned to US futures to get direction. By midday, the All Share had lost 0.17 %.

    The rand improved in early trade this morning, strengthened by a recovery in gold prices as the dollar dipped once again. The dollar fell again after Ben Bernanke managed to cool speculation of an early rise in interest rates. The resistance to losses on Wall St yesterday also removed impetus for the dollar movement. By midday, the dollar traded for R7.41.

    The gold price gained some ground this morning after a hitting a 2-week low the previous session. The dollar weakened after the US Central Bank cautioned that the economic recovery remains fragile. The dollar recovery on the unwinding of dollar shorts against the euro is set to boost the gold price. By noon, the gold price hovered at $1163.40 per troy ounce.

    International Markets

    Stocks in the US closed relatively flat on Tuesday after investors paused to assess prospects for a genuine US economic recovery and interest rate hikes following Ben Bernanke’s recent comments.

    Labour reports on Friday suggested that employers cut fewer jobs in November than expected but there are fears that the Central bank will raise interest rates prematurely in an ill-conceived effort to pull the economy out of recession. Investors have already begun to price in the higher rates and this is weighing down equities. By close, the Dow Jones was 0.01% up whilst the Nasdaq was 0.22% down.

    The benchmark Nikkei average slipped overnight to end a 6-session winning streak. Investors finally relented and a bout of profit-taking marred the session, also affected by the strengthened yen which dampened exporters’ gains. The equity market was barely impacted by the government announcement of a slightly increased stimulus package. By close this morning, Japan’s benchmark stock index was 0.27% down.

    Stocks in Hong Kong fell overnight as investors continued to worry about HSBC’s exposure to Dubai World. Other Chinese banks also fell after reports emerged that Beijing would not assist in boosting their capital. The benchmark Hang Seng finished 1.18% lower.

    Equities in London were weaker again this morning as signs of depressed spending on High St having a negative impact on retail stocks. At the peak of the festive shopping season, retailers are nervous about meeting sales forecasts as Tesco and other big market players lost ground this morning after reporting missed sales growth targets. Miners however continued to buoy the market as commodity prices improve daily. By midday, the FTSE 100 was 0.23% up.

    Share Price News

    Among the morning’s biggest winners, Sentula Mining Ltd of the Metals and Minerals sector fared well. It gained 2.53% to sell for R2.43 per share by midday. Also gaining voluminously was Esorfranki Ltd of the Other Construction sector. It gained 2.49% to sell for R3.70 by noon.

    Mondi Ltd of the Paper Sector lost significant ground this morning as investors shifted towards miners and resource-related stocks. It shed 7.25% in value to trade for R42.20 per share at noon. Also performing poorly was Nampak Ltd of the Containers and Packaging sector. At midday, it had lost 2.73% to sell for R15.32 per share.

    Permalink2009-12-08, 12:49:21, by Grant Leyland Email , Leave a comment

    Commodities buoy markets again as the dollar loses momentum

    Local Markets

    Trade was fairly thin during the morning session today. An improvement in commodity prices saw commodity stocks gain some upward momentum. Each session seems to be dominated by the movement in resources nowadays but focus is now turned to US futures to get direction. By midday, the All Share had lost 0.17 %.

    The rand improved in early trade this morning, strengthened by a recovery in gold prices as the dollar dipped once again. The dollar fell again after Ben Bernanke managed to cool speculation of an early rise in interest rates. The resistance to losses on Wall St yesterday also removed impetus for the dollar movement. By midday, the dollar traded for R7.41.

    The gold price gained some ground this morning after a hitting a 2-week low the previous session. The dollar weakened after the US Central Bank cautioned that the economic recovery remains fragile. The dollar recovery on the unwinding of dollar shorts against the euro is set to boost the gold price. By noon, the gold price hovered at $1163.40 per troy ounce.

    International Markets

    Stocks in the US closed relatively flat on Tuesday after investors paused to assess prospects for a genuine US economic recovery and interest rate hikes following Ben Bernanke’s recent comments.

    Labour reports on Friday suggested that employers cut fewer jobs in November than expected but there are fears that the Central bank will raise interest rates prematurely in an ill-conceived effort to pull the economy out of recession. Investors have already begun to price in the higher rates and this is weighing down equities. By close, the Dow Jones was 0.01% up whilst the Nasdaq was 0.22% down.

    The benchmark Nikkei average slipped overnight to end a 6-session winning streak. Investors finally relented and a bout of profit-taking marred the session, also affected by the strengthened yen which dampened exporters’ gains. The equity market was barely impacted by the government announcement of a slightly increased stimulus package. By close this morning, Japan’s benchmark stock index was 0.27% down.

    Stocks in Hong Kong fell overnight as investors continued to worry about HSBC’s exposure to Dubai World. Other Chinese banks also fell after reports emerged that Beijing would not assist in boosting their capital. The benchmark Hang Seng finished 1.18% lower.

    Equities in London were weaker again this morning as signs of depressed spending on High St having a negative impact on retail stocks. At the peak of the festive shopping season, retailers are nervous about meeting sales forecasts as Tesco and other big market players lost ground this morning after reporting missed sales growth targets. Miners however continued to buoy the market as commodity prices improve daily. By midday, the FTSE 100 was 0.23% up.

    Share Price News

    Among the morning’s biggest winners, Sentula Mining Ltd of the Metals and Minerals sector fared well. It gained 2.53% to sell for R2.43 per share by midday. Also gaining voluminously was Esorfranki Ltd of the Other Construction sector. It gained 2.49% to sell for R3.70 by noon.

    Mondi Ltd of the Paper Sector lost significant ground this morning as investors shifted towards miners and resource-related stocks. It shed 7.25% in value to trade for R42.20 per share at noon. Also performing poorly was Nampak Ltd of the Containers and Packaging sector. At midday, it had lost 2.73% to sell for R15.32 per share.

    Permalink2009-12-08, 12:46:56, by Natalie Email , Leave a comment

    Weaker commodity prices weigh on JSE

    Local markets

    At 12:00 on Monday, the JSE All Share had fallen 1.69%, led by a dive in gold mining and basic materials stocks. The sectors were weighed on by declining commodity prices after the US dollar strengthened.

    The US dollar cost R7.45 at midday, with the rand weakening as it tracked the direction of the euro-dollar exchange.

    Oil fell 0.1% to cost $76.92 a barrel, retreating again after a rebound earlier today which came after positive employment news from the US.

    International markets

    On Friday, the Dow Jones inched up 0.22% and the Nasdaq lifted 0.98% as US markets were buoyed by better-than-expected job statistics. Gains in industrial, technology, consumer and financial stocks led the upward moves.

    In Japan this morning, the Nikkei average closed 1.45% higher after exporters benefited from a strengthening US dollar, and positive US jobs data encouraged economic recovery hopes.

    In Hong Kong, the Hang Seng fell 0.77% after gold prices dropped, bringing about losses in commodity shares.

    In the UK, the FTSE 100 had lost 1% by noon, after bank stocks fell on windfall tax anxiety, and lower commodity prices pressured energy and mining stocks.

    Share price news

    In the mining sector, Sephaku Holdings Limited (share code: SEP) rose 7.14% to sell at R3.75 a share at midday, after just one deal of 2500 shares. Investment company Pallinghurst (share code: PGL) gained 3.26% after 15 deals exchanged 27 514 shares, lifting the share price to R4.75.

    KAP International Holdings (share code: KAP) in the diversified industrials sector lost 12.82% as shares fell to R1.70. Traders exchanged 17 000 shares in 11 deals, after an announcement this morning of the sale of a director’s shares in the company.
    Coronation Fund Managers Limited (share code: CML) slid to R8.25 a share, a loss of 8.23% after six deals traded 41 800 shares.

    Permalink2009-12-07, 12:17:40, by Natalie Email , Leave a comment

    JSE down on profit taking

    Local markets

    The JSE had lost 0.59% by noon on Friday, led downwards by the gold mining sector, as investors took profits after commodity prices fell and US markets lost points yesterday.

    The rand was exchanging at R7.38 to the US dollar at 12:00. Trade was wary ahead of US employment statistics which are to be published later today.

    Gold came off record highs, falling 0.48% to sell at $1206.15 an ounce at midday, as investors booked profits after the precious metal’s recent rally.

    International markets

    The Dow Jones slid 0.83% while the Nasdaq lost 0.54% yesterday after it was announced that the US services sector declined last month. Financial stocks were particularly affected after Bank of America’s enormous equity offering raised dilution concerns among investors.

    The Nikkei rose 0.45% this morning to reach its highest weekly gain in more than twelve months, led by stronger exporter stocks.

    The Shanghai index climbed 1.61% while the Hang Seng lost 0.25%, as banks pulled up the Chinese index but weighed on Hong Kong shares, along with property stocks.

    The FTSE 100 had slipped 0.6% as the US employment report made investors cautious, leading to a slide in financial and energy shares.

    Share price news

    IPSA Group (share code: IPS) was the biggest mover upwards at midday on Friday, as the share price rose 11.11% to R2 after 11 deals traded 51 800 shares. Coronation Fund Managers Limited (share code: CML) rose 5.14% to sell at R9, after one deal of 1 800 shares.

    Freeworld Coatings Limited (share code: FWD) fell 5.17% to trade at R8.25 a share, after 16 deals moved 3 373 shares. Non-ferrous metal company Metmar Limited (share code: MML) lost 5% to sell at R3.80 a share at noon, after one deal of 31 shares.

    Permalink2009-12-04, 12:50:41, by Natalie Email , Leave a comment

    JSE flat; lack of economic data leaves global markets mixed

    Local markets

    At noon on Thursday, the JSE All Share had edged up 0.19%, led upwards by gains in the oil and gas sector.

    The rand had strengthened to sell at R7.28 to the US dollar at 12:00, but remained range bound as it followed the movements of the euro.

    The oil price rose 1.51% to sell at $78.16 a barrel, hovering around the $78 mark as US crude oil inventory levels rose, indicating weak demand.

    International markets

    Yesterday, a 2% fall in crude oil futures took its toll on energy stocks on US markets, leading to a loss in the Dow Jones of 0.18%. Meanwhile, the Nasdaq gained 0.42% and the S&P 500 closed flat, up 0.03%.

    The Nikkei soared 3.84% this morning, reaching a 5-week closing high after gains in exporters came on the back of a weaker yen, and metal stocks rose on record gold prices.

    The Hang Seng index in Hong Kong rose 1.19% after banking and property shares gained on hopes for economic growth.

    In London, the FTSE 100 had lifted 0.71% by midday as mining and oil shares were boosted by higher commodity prices, and bank stocks improved on news that Bank of America is set to repay US government bailout funds.

    Share price news

    Shares in DRD Gold Limited (share code: DRD) rose to R4.69 at 12:00, a gain of 10.09% after 166 deals exchanged 671 141 shares. Sentula Mining Limited (share code: SNU) climbed 9.62% to sell at R2.28 at 12:00, after more than 76 deals.

    In the oil sector, Oando PLC (share code: OAO) fell to R5, a loss of 16.67% after 303 978 shares were traded in 6 deals. Rare Holdings Limited (share code: RAR) lost 6% to trade at R1.41 at noon, after one deal of 457 shares.

    Permalink2009-12-03, 12:37:46, by Natalie Email , Leave a comment

    Gold price reaches record high, boosts global commodity stocks

    Local markets

    Thanks to an all-time high in the gold price, gains in commodity stocks led the JSE All Share up 0.42% by midday on Wednesday.

    The rand cost traders R7.30 to the US dollar at noon, boosted by the higher gold price and stronger international equities.

    Oil cost $78.63 a barrel, losing 1.71% after rising US inventories dampened hopes for a solid economic recovery.

    International markets

    On US markets yesterday, the Dow Jones climbed 1.23% to reach a 14-month closing high, while the Nasdaq lifted 1.46%. A weaker US dollar buoyed commodity shares, and news of positive economic data and Dubai’s debt restructuring plans improved sentiment.

    The Japanese Nikkei index rose 0.38% this morning to reach its highest level in two weeks, led upwards by metal stocks. The market was supported by a weaker yen and short covering by investors.

    China’s Shanghai index lifted 1.06% while Hong Kong’s Hang Seng inched up 0.8% as investors sought bargains after positive housing sales results from the US inspired confidence in economic recovery.

    The FTSE 100 had slipped 0.07% by midday as losses in banks overcame gains in mining and telecommunications stocks.

    Share price news

    Mining company Sephaku Holdings Limited (share code: SEP) gained 14.29% as shares rose to R4 at 12:00, after one deal of 1000 shares. Sephaku reported a change to their board of directors this morning. Oando PLC (share code: OAO) in the oil sector rose to R6 a share, an increase of 12.78% after two deals of 1 000 shares in total.

    Barnard Jacobs Mellet Holdings Limited (share code: BJM) in the investment bank sector fell to R3.19 a share at noon, a loss of 15.16% after 12 deals exchanged 118 700 shares. Ellies Holdings Limited (share code: ELI) lost 5.71% after one deal of 500 shares, sending the price down to R1.65 a share.

    Permalink2009-12-02, 12:33:52, by Natalie Email , Leave a comment

    Gains in gold miners boost JSE

    Local markets

    The JSE All Share had risen 1.09% by noon on Tuesday, led upwards by gains in the gold mining sector. Stronger international markets supported the local bourse.

    The rand was trading at R7.33 to the US dollar, strengthening slightly as investor appetite for risk continued to increase.

    Gold was selling at $1194.95 an ounce at 12:00, rising 1.35% as it continued to find favour as a safe-haven asset, though slightly off last week’s record highs.

    International markets

    The Dow Jones finished 0.34% up yesterday, while the Nasdaq edged up 0.29% as investors continued to hope that the Dubai debt problem would have minimum impact.

    The Shanghai index climbed 1.25% this morning, as worries that Chinese banks would need fundraising began to dissipate, and investors consolidated. Carmakers and airline stocks were amongst the gainers.

    The Hang Seng rose 1.34%, as Hong Kong stocks continued yesterday’s rally with banking stocks leading the upward trend.

    The FTSE 100 had climbed 1.73% by midday as investors anxiety over the Dubai debt situation began to ease after yesterday’s dramatic falls.

    Share price news

    Keaton Energy Holdings Limited (share code: KEH) in the coal sector gained 11.11% to R6 at 12:00, after one deal of 500 shares. 1Time Holdings Limited (share code: 1TM) rose to R1.10 a share, an increase in share price of 3.77% after more than ten deals totaling 59 166 shares.

    Nu-world Holdings Limited (share code: NWL) in the household appliances sector fell to R18, a loss of 9.55% after one deal of 1 000 shares. New Europe Property Investments PLC (share code: NEP) slid to R27.50, losing 8.03% after three deals exchanged 7 855 shares.

    Permalink2009-12-01, 12:13:35, by Natalie Email , Leave a comment