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    Gains in resources lift JSE

    Local markets

    The JSE All Share had gained 0.6% by midday on Monday, supported by a lift in the gold mining and basic materials sectors.

    The rand was trading at R7.56 to the US dollar at 12:00, strengthening slightly in line with a firmer euro. Analysts expect the rand to be range bound for the rest of the session.

    Oil had fallen 1.14% to sell at $72.17 a barrel, almost hitting one-month lows as investors continued to worry over potentially tighter monetary policy in China and banking policy in the US.

    International markets

    On Friday, the Dow Jones fell 2.09% while the Nasdaq lost 2.67%, resulting in the heaviest slide on US markets in ten months. Investors were concerned that plans to cut back on risk taking would dent profits, and uncertainty whether Ben Bernanke would complete another term also spurred selling.

    The Japanese Nikkei gave up 0.74% after Google reported poor results, and another technology firm predicted low sales. A stronger yen added to the index’s troubles.

    The Hang Seng slid 0.62% as Hong Kong banks and property shares lost ground, after news of higher mortgage rates and fundraising plans from Bank of China.

    The British FTSE 100 was flat at noon, up 0.06% after bank and mining stocks recovered some of last week’s losses, offsetting losses in energy counters as investors mulled over bank news from the US.

    Share price news

    Retailer Tradehold Limited (share code: TDH) was the top mover upwards at midday, gaining 8.91% to sell at R1.10 after 1 477 shares were exchanged in one deal.

    Aquarius Platinum Limited (share code: AQP) rose to R48.90, an increase of 7.69% in share price after 15 deals saw the exchange of 5 310 shares.

    After four deals totaling 8 250 shares, Comair Limited (share code: COM) lost 9.43% to trade at R2.40 a share.

    Mining company Sephaku Holdings Limited (share code: SEP) lost 7.34% as shares fell to R3.66 after one deal traded 5 000 shares.

    Permalink2010-01-25, 12:32:03, by Natalie Email , Leave a comment

    Global markets lower before weekend

    Local markets

    The JSE All Share had lost 1.37% by noon on Friday, as the basic materials sector led the local bourse downwards, following lower international markets.

    The rand was trading at R7.53 to the US dollar at 12:00, recovering after reaching its lowest level in a month.

    Gold had managed to edge up 0.18% to $1096.97 after yesterday’s losses, though US plans to limit financial risk taking weighed on investor confidence.

    International markets

    Yesterday, Obama proposed tighter bank restrictions that some investors felt would negatively impact profits, sending the Dow Jones down 2.01% and the Nasdaq lower by 1.12%.

    The Nikkei fell 2.56% to hit a four-week low this morning, as technology shares slid after Shin-Etsu Chemical's bleak outlook. Exporters took a tumble as plans for new US bank restrictions served to strengthen the yen.

    Hong Kong’s Hang Seng dived 0.65%, their lowest level in over three months, after
    losses on US markets, falling commodity prices and fears of monetary tightening in China.

    The FTSE 100 had risen 3.28% by noon, as stronger mining and telecommunication stocks boosted Britain’s main share index.

    Share price news

    Investment company Sabvest Limited (share code: SVN) rose 11% to sell at R5.55 a share at midday, as 315 shares were exchanged in one deal.

    Financial administrators Net 1 UEPS Technology Inc. (share code: NT1) rose to R145, a 7.41% gain as two deals traded 285 shares.

    Compu Clearing Outsourcing Limited (share code: CCL) in the computer services sector fell 13.49% to R2.50 a share, after two deals exchanged a total of 3 500 shares.

    After five deals totaling 31 000 shares, Telemaster Holdings Limited (share code: TLM) lost 12.20% to sell at R1.80 a share at noon.

    Permalink2010-01-22, 12:35:32, by Natalie Email , Leave a comment

    Strong economic growth data from China sends global markets down

    Local markets

    The JSE All Share was 0.75% lower at midday on Thursday, with basic materials stocks leading the slide downwards. Analysts expect the local bourse to follow Wall Street amid the release of economic data and corporate earnings.

    The rand was trading at R7.55 to the US dollar at noon, recovering some of yesterday’s losses and once again remaining within a range.

    Gold cost $1105.67 an ounce at 12:00, losing 0.66% after the dollar strengthened on worry that solid GDP data from China would give the country more reason to tighten monetary controls.

    International markets

    The Dow Jones fell 1.14% and the Nasdaq closed 1.26% lower yesterday, on investor concern that Beijing would further restrict the Chinese economy given already strong growth figures, stalling global economic recovery.

    The Nikkei rose 1.22% this morning on gains from technology shares, though further increases were limited after China’s economic data was released.

    The Hang Seng slid 1.99% to hit their lowest point in over three months, after losses in Chinese banks and property stocks came after the announcement of strong economic data from China.

    Britain's FTSE 100 had gained 0.19% by midday, led by a rebound in energy and defensive shares. Mining stocks took a knock as China’s potential tightening concerned investors.

    Share price news

    Bell Equipment Limited (share code: BEL) in the leisure equipment sector rose 4.76% to R11 a share at noon, after investors traded 13 700 shares in eight deals.

    Engineering firm Invicta Holdings Limited (share code: IVT) gained 4.17% after six deals exchanged 15 556 shares, sending the share price up to R25.

    Losing ground was DRD Gold Limited (share code: DRD) whose shares fell to R5.09 each, a loss of 7.45% as 38 deals traded 191 764 shares.

    Silverbridge Holdings Limited (share code: SVB) tumbled 6.25% to R1.50 a share, after one deal sold 5 000 shares.

    Permalink2010-01-21, 12:32:31, by Natalie Email , Leave a comment

    JSE follows Asian markets weaker

    Local markets

    On Wednesday at midday, the JSE All Share had edged down 0.33% in line with losses on Asian markets. Financial stocks managed to buck the trend, up 0.97% amidst general losses.

    A US dollar cost R7.48 at 12:00, continuing its third day of range-bound trading and ignoring a fall in the euro.

    Brent crude oil cost $76.32 a barrel, recovering 1.76% after prices fell as investors expected a weak US crude inventory report and were concerned about further monetary tightening from China.

    International markets

    The Dow Jones rose 1.09% and the Nasdaq climbed 1.42% yesterday, as investors considered it likely that a potential Republican victory in Massachusetts' senate race could interrupt Obama's reform agenda. Technology shares lifted in response to solid earnings results from IBM.

    The Nikkei fell 0.25% this morning after several securities firms were given a brokerage downgrade, and investors were cautious before corporate earnings season.

    The Hang Seng lost 1.81% to almost hit its lowest close in a month. Losses were led by mainland banking shares after major banks were told to cut back lending by China's banking authorities.

    The FTSE 100 had dipped down 0.28% by noon, after losses in mining stocks came on a shaken demand outlook in China.

    Share price news

    Top mover upwards at midday was Sable Holdings Limited (share code: SBL) in the real estate sector. Shares rose 528.21% after two deals totaling 600 shares, to sell at R98 a share. In the same sector, Fairvest Property Holdings Limited (share code:
    FVT) gained 9.52% to trade at R1.15, after four deals of 27 000 shares.

    Losing 7.28% was IPSA Group (share code: IPS), whose shares fell to R1.40 after 3 800 shares were traded in two deals. Gold miner Simmer and Jack Mines Limited
    (share code: SIM) fell to R1.95, a loss of 5.34% after 59 deals exchanged 689 937 shares.

    Permalink2010-01-20, 12:16:54, by Natalie Email , Leave a comment

    JSE quiet amid lack of economic data

    Local markets

    By midday on Tuesday, the JSE All Share had retreated 0.25%, offsetting earlier gains in resource stocks. The downward trend was led by losses in the oil and gas sector, though analysts expect a quiet day of trade due to the lack of new economic data.

    The rand continued to be range bound, trading at R7.40 to the US dollar at noon after yesterday’s public holiday in the US.

    Precious metals palladium and platinum reached their highest prices in several months today, costing $459.50 and $1632.50 respectively. The launch of US-based, exchange-traded funds backed by the metals helped to increase demand.

    International markets

    US markets were closed yesterday for Martin Luther King Day.

    Japan's Nikkei average slid 0.83% this morning on profit taking by investors after a recent rally, and exporters were hit by a stronger yen.

    Hong Kong’s Hang Seng closed 1.02% higher after falling midway through the session on profit taking and Chalco’s profit warning, but Chinese trading stocks gained enough to comfortably offset the damage.

    Britain’s FTSE 100 had fallen 1.09% by noon, weighed on by losses in banking shares before the release of corporate earnings from Citigroup. Investors were also concerned about UK inflation data.

    Share price news

    In the platinum sector, Anooraq Resources Corporation (share code: ARQ) climbed to R11.90, an increase in share price of 12.26% after 14 321 shares were traded in eight deals. Eastern Platinum Limited (share code: EPS) rose 10.63% to R10.51 a share, after 32 deals exchanged 53 756 shares.

    Retailer Italtile Limited (share code: ITE) fell 5.88% to sell at R4 a share, after one deal exchanged 10 000 shares. In the diversified industrials sector, Eqstra Holdings Limited (share code: EQS) fell to R6.60, a loss of 5.44% after two deals traded 8 032 shares.

    Permalink2010-01-19, 12:17:42, by Natalie Email , Leave a comment

    US, Asian markets down after JP Morgan reports losses

    Local markets

    At midday on Monday, the JSE All Share had edged up 0.25% after a flat morning’s trade, as no new information was expected to bring direction. Gains in basic materials shares gave support to the local bourse.

    The rand was trading at R7.38 to the US dollar at noon, remaining within a range as American traders were away for a public holiday in the US.

    Gold cost $1135.50 an ounce, rising 0.66% though further gains were limited by dollar strength. The increase in price was supported by physical buying from gold jewellers in India.

    International markets

    On Friday, the Dow Jones closed 0.94% lower while the Nasdaq lost 1.24%. Investors became skittish after JPMorgan Chase & Co reported serious fourth-quarter loan losses, and were concerned about bank profits. Consumer confidence for the beginning of January was lower than expected, also affecting share sales.

    Japan's Nikkei average lost 1.16% this morning, after JPMorgan Chase & Co’s loan losses report spurred broad-based selling and investors became concerned that the market was overheated.

    The Hang Seng fell 0.9% following losses on US markets, closing lower for a fifth session in a row. Investors were on the alert for further US bank earnings reports.

    The FTSE 100 had risen 0.54% by 12:00, with gains in mining stocks after metal prices strengthened. Investors bought up shares of companies involved in potential takeovers, which helped to overcome losses in banking and oil shares.

    Share price news

    Afrocentric Investment Corporation-PRF (ACTP) soared an enormous 42.86% to sell at R5 a share at noon. 354 shares were traded in one deal.

    Famous Brands Limited (FBR) in the restaurants and pubs sector climbed to R25 a share, a gain of 5.04% after 10 deals exchanged 14 290 shares.

    Hwange Colliery Company Limited (HWA) fell 17.14% to sell at R2.90 a share, after one deal traded 3 365 shares.

    In the farming and fishing sector, Afrocentric Investment Corporation Limited (ACT) fell to R1.62 a share, a loss of 10% after four deals traded 10 292 shares.

    Permalink2010-01-18, 12:42:03, by Natalie Email , Leave a comment

    Global trade cautious ahead of US consumer confidence data

    Local markets

    There was little action on the markets this morning, with the JSE All Share flat, 0.09% lower at midday amongst mixed trade. The local bourse seemed to await direction from overseas markets.

    The rand was trading at R7.39 to the US dollar at noon, staying within a range. Traders were cautious ahead of US consumer confidence data, which will be released later today.

    Oil cost $77.34 a barrel at 12:00, recovering 0.44% after an initial slide that came after the US dollar strengthened. However, demand for oil in developed countries continues to be weaker.

    International markets

    On US markets yesterday, the Dow Jones closed 0.28% higher and the Nasdaq rose 0.38%. Investors banked on tech shares gaining before Intel’s quarterly results were released. The stronger closes came in spite of a fall in retail sales for December and an increase in unemployment. Analysts suggest that the cavalier trading behavior stems from confidence that government stimulus will continue regardless.

    The Nikkei finished 0.68% higher this morning, as gains in technology shares after Intel’s better-than-expected profit announcement lifted the Japanese index.

    The Hang Seng slipped 0.29% as investors took profits, cancelling gains in technology stocks that came after Intel’s profit announcement.

    Britain’s FTSE 100 was up 0.27% at midday, led by gains in mining and bank shares. Further action was limited as investors awaited results from US firm JPMorgan Chase & Co.

    Share price news

    Investment bank Iquad Group Limited (share code: IQG) climbed 12.50% after 1 000 shares were traded in one deal, lifting the share price to R2.25 at noon.
    Jasco Electronics Holdings Limited (share code: JSC) rose 5.56% to R1.90 a share, after two deals traded 10 500 shares.

    The biggest mover downwards at midday was Delta EMD Limited (share code: DTA) in the electrical equipment sector, whose shares fell to R9.50, a loss of 9.95% after 29 825 shares were exchanged in 11 deals. Speciality chemicals firm Freeworld Coatings (share code: FWD) dropped 5.10% to sell at R8 a share, after four deals saw the exchange of 5 559 shares.

    Permalink2010-01-15, 12:14:16, by Natalie Email , Leave a comment

    Gains in basic materials sector lifts JSE

    Local markets

    At midday, the basic materials index had gained 0.95%, leading the JSE All Share upwards by 0.76%. Global investor sentiment was optimistic following good export data from China, and positive US corporate results.

    The rand had strengthened to sell at R7.41 to the US dollar at noon, remaining range bound as traders awaited US retail sales for December, due out later today.

    Gold rose 0.71% to sell at $1136.05 an ounce, continuing yesterday’s gains after a weaker dollar encourage short-covering and physical buying. Trade was still cautious however ahead of the European Central Bank's policy decision and US data.

    International markets

    Yesterday, the Dow Jones inched up 0.5% while the Nasdaq climbed 1.12%, after investors bet on pressured technology and financial shares before the release of earnings from Intel Corp and JPMorgan Chase & Co (JPM.N).

    Japan's Nikkei average lifted 1.61%, reaching its highest close in 15 months after tech companies gained on hopes that upcoming US corporate earnings will show an improvement for Japan’s main trading partner.

    Hong Kong shares fell 0.15% after earlier gains came on positive closes on US markets, which boosted investor confidence. Investors bought shares in Foxconn and Lenovo, after news of rising sales of personal computers.

    In Britain, the FTSE 100 had risen 0.57% after Rio Tinto release solid figures and boosted mining shares. Investors bought up bank and oil shares, taking advantage of recent lows.

    Share price news

    In the forestry sector, York Timber Holdings Limited (share code: YRK) rose 11.11% to trade at R3.50 a share, after 30 deals exchanged 229 120 shares. Eastern Platinum Limited (share code: EPS) climbed to R9, a gain of 5.63% after 22 deals totaling 28 873 shares.

    Diamond company Trans Hex Group Limited (share code: TSX) saw the exchange of 6 252 shares in four deals, sending the share price down 16.12% to sell at R4.11 at midday. Argent Industrial Limited (share code: ART) lost 4.44% after two deals of 1 101 shares to trade at R8.60 a share.

    Permalink2010-01-14, 12:30:57, by Natalie Email , Leave a comment

    China’s tighter monetary policy weighs on international markets

    Local markets

    On Wednesday at 12:00, the JSE All Share had improved by 0.07% despite lower closes on most international markets, supported by small gains in industrial stocks.

    The rand was trading at R7.41, strengthening slightly after falling to its lowest level in two weeks yesterday, when investors divested themselves of commodity currencies following China’s tighter bank reserve requirements.

    Oil was selling at $78.32 a barrel, continuing to fall by 0.86% after reports of an unexpected increase in US inventories, despite a severe winter in parts of the USA and Europe.

    International markets

    On US markets, the Dow Jones dipped by 0.34% while the Nasdaq lost 1.30% after a broad selloff yesterday. Financial stocks took a beating after investors worried about a potential government levy on banks, and poor results from Alcoa Inc dented hopes for economic recovery.

    In Japan, the Nikkei average closed 1.32% lower this morning, as investors took profits and a stronger yen took its toll on exporter stocks. Resource shares tumbled after China's tightening of monetary policy raised concern for a reduction in demand.

    The Hang Seng finished 2.59% down, achieving its largest one-day percentage loss in over a month after investor anxiety that China's tighter reserve requirement might slow growth in the economy.

    The FTSE 100 had fallen 0.09% by noon as banking stocks came under pressure on the back of a profit warning from Societe Generale. The UK bourse took direction from losses in Asia.

    Share price news

    Auto parts company Dorbyl Limited (share code: DLV) climbed 15.65% to sell at R3.99 a share by midday, after 6 925 shares were exchanged in 4 deals. Gijima AST Group Limited (share code: GIJ) in the computer services sector rose to R1.02 a share, a gain of 5.15% after 1 103 325 shares were traded in 33 deals.

    In the building and construction materials sector, Ceramic Industries Limited (share code: CRM) fell 9.09% one deal of two shares, which sent the price down to R100. Eastern Platinum Limited (share code: EPS) lost 7.12% as shares dropped to R8.61, after 45 192 shares were exchanged in 30 deals.

    Permalink2010-01-13, 12:27:23, by Natalie Email , Leave a comment

    Investors take profits after resource rally on JSE

    Local markets

    Tuesday midday saw the JSE All Share down by 0.83%, led by falling oil and gas and basic materials stocks as investors booked profits after the recent rally in resources.

    The rand was selling at R7.42 to the US dollar at noon, slightly weaker after yesterday’s levels as it shadowed movements on the euro.

    Oil cost $79.92 a barrel, dipping 0.1% after milder weather was predicted for northeast USA, reducing potential demand, and investor confidence over rising global demand was challenged.

    International markets

    Gains in the industrial sector helped the Dow Jones to close 0.43% higher and the S&P 500 to finish 0.17% up on US markets yesterday. Positive trade data from China served to sustain optimism for world economic recovery, though the Nasdaq lost 0.21% after investors took profits.

    Japan's Nikkei average rose 0.75% this morning to reach its highest level for 15 months. After China’s data showed record imports of some commodities and better-than-expected exports, resource and machinery stocks climbed.

    The Hang Seng fell 0.38% after volatile trade as continuing anxiety over new lending regulations from Beijing weigh on financial stocks.

    Britain's FTSE 100 was 0.63% lower at midday, as weaker commodity and banking stocks offset gains in food retailers after Tesco published a solid update.

    Share price news

    In the building and construction materials sector, Ceramic Industries Limited (share code: CRM) rose to R110 a share, a gain of 10% after 75 shares were sold in one deal.

    Jasco Electronics Holdings Limited (share code: JSC) gained 5.56% after 34 930 shares were exchanged in 5 deals, sending the share price up to R1.90 at noon.

    Diversified industrial KAP International Holdings (share code: KAP) fell 12% to R2.20 a share, after a single deal traded 4 000 shares.

    Metorex Limited (share code: MTX) in the metals and minerals sector dropped to R5.08 a share, a loss of 5.93% after around a million shares were traded in more than 150 deals.

    Permalink2010-01-12, 12:33:44, by Natalie Email , Leave a comment

    Positive trade data from China boosts global markets

    Local markets

    The JSE All Share was up by 1.05% at noon, as the market took direction from positive closes in Asia. Basic materials and gold mining stocks lead the upward charge with gains of 2.63% and 1.66% respectively.

    The rand was trading at R7.34 to the US dollar, strengthening slightly in line with a stronger euro.

    Gold had risen 2.69% to sell at $1156.30 an ounce at 12:00. Better-than-expected Chinese trade data, higher oil prices and a fall in the US dollar helped to support the precious metal’s gains.

    International markets

    The Dow Jones finished 0.11% up and the Nasdaq 0.74% stronger on Friday, overcoming earlier losses as investors decided that poor employment statistics for December would not interfere with economic recovery.

    The Nikkei index was closed today for the ‘coming of age’ public holiday.

    Hong Kong shares rose 0.51% this morning, as investors responded positively to the approval of stock index futures and China’s strong export data for December.

    The FTSE 100 had lifted by 1.11% at midday, as gains in mining and energy shares came after stronger commodity prices, and investor sentiment improved on firm trade data from China.

    Share price news

    In the mining sector, Sephaku Holdings Limited (share code: SEP) rose 10% to sell at R4.40 a share at midday, after a single deal of 2 000 shares.

    Diamond company Trans Hex Group Limited (share code: TSX) climbed to R4.85, a gain of 8.02% as 14 649 shares were exchanged in 8 deals.

    Financial company Grand Parade Investments Limited (share code: GPL) saw the exchange of 3 580 shares in two deals, which sent the share price sliding 7.11% to R2.35.

    Mutual & Federal Insurance Company Limited (share code: MAF) fell to R22.20 a share, a loss of 5.53% after one deal traded 759 shares.

    Permalink2010-01-11, 12:19:01, by Natalie Email , Leave a comment

    Global markets await US jobs data for direction

    Local markets

    At noon on Friday, gains in industrial and gold mining stocks led the JSE All Share upwards by 0.79%. Investor sentiment seems positive ahead of US jobs data which is due out later today.

    The rand was selling at R7.42 to the US dollar, weakening slightly after yesterday’s gains as all eyes were on the imminent release of US job statistics.

    Brent crude oil cost $80.70 a barrel, down 0.37% after yesterday’s losses on concern about China’s potentially tighter monetary policy. Traders were awaiting jobs data from the US that would indicate oil demand and progress of economic recovery.

    International markets

    The Dow Jones and Nasdaq finished lower yesterday, after the dollar grew stronger on news of a marginal increase in US unemployment statistics.

    The Nikkei average closed 1.09% higher this morning, reaching a 15-month high after news of increasing global demand for high-tech products. Further gains were limited as investors took profits before the release of U.S. jobs data.

    The Hang Seng rose 0.12% as earlier gains were eroded by investor concern that China’s monetary policy may become tighter and reduce liquidity, limiting growth in lending and property sales.

    Britain's FTSE 100 had lifted by 0.15% at midday, as bank stocks gained on positive sentiment. Trading was fairly quiet ahead of the release of US jobs data.


    Share price news

    BRC Diamondcore Limited (share code: BCD) rose to R1.10 at noon, an increase in share price of 15.79% after 14 961 shares were traded in 10 deals. Uranium One Inc (share code: UUU) gained 7.91% as shares rose to R23.60, after 36 deals exchanged 103 090 shares.

    Slipping downwards was Fairvest Property Holdings Limited (share code: FVT) whose shares dropped to R1 after one deal of 7 470, a loss of 9.09%. Losing ground for a second day, Eastern Platinum Limited (share code: EPS) fell 4.47% to trade at R8.12 a share at 12:00, after investors traded 51 980 shares in 19 deals.

    Permalink2010-01-08, 12:34:27, by Natalie Email , Leave a comment

    JSE tracks weaker Asian markets lower

    Local markets

    The JSE All Share had fallen 0.57% by 12:00, with losses across the board. The local bourse tracked lower Asian markets and trade continued to be thin.

    The rand was selling at R7.36 to the US dollar at noon, stabilizing against the American currency after yesterday’s strength.

    Gold lost 0.77% to sell at $1129.25 an ounce, retreating after yesterday’s three-week high. Investors became cautious before the release of US non-farm payroll statistics for last month, to be published this week.


    International markets

    On US markets, the Dow Jones inched up 0.02% but the Nasdaq closed 0.33% lower yesterday. The mixed results came after the Federal Reserve expressed concern about weakness in the labour markets, and the service sector reported an improvement that was less than expected.

    Japan's Nikkei average fell 0.46% this morning, after Canon was downgraded by a brokerage, and Japan Airlines plummeted after news that it would be reporting a $13.3 billion net loss. Commodity-related shares shaved off gains after China's central bank’s surprise rate increase.
    Hong Kong’s Hang Seng finished 0.66% down on profit taking, and financial stocks took a hit after the Chinese central bank restricted liquidity.

    The British FTSE 100 had slipped 0.28% by midday after losses in banking and mining counters, as investors tread carefully before the announcement of the UK interest rate decision.


    Share price news

    Eastern Platinum Limited (share code: EPS) shot up 11.27% to sell at R7.80 a share at noon, after 36 deals traded 139 090 shares. Anooraq Resources Corporation (share code: ARQ) rose to R7.45 a share, a 6.43% rise after four deals exchanged 11 900 shares.

    Auto parts company Dorbyl Limited (share code: DLV) lost 9.77% as shares fell to R3.60 each after 5 100 shares were exchanged in two deals. Caxton (share code: CAT) shares lost further ground today, falling 8% to R14.26, after traders exchanged 2 391 shares in 11 deals.

    Permalink2010-01-07, 12:15:59, by Natalie Email , Leave a comment

    JSE tracks weaker Asian markets lower

    Local markets

    The JSE All Share had fallen 0.57% by 12:00, with losses across the board. The local bourse tracked lower Asian markets and trade continued to be thin.

    The rand was selling at R7.36 to the US dollar at noon, stabilizing against the American currency after yesterday’s strength.

    Gold lost 0.77% to sell at $1129.25 an ounce, retreating after yesterday’s three-week high. Investors became cautious before the release of US non-farm payroll statistics for last month, to be published this week.


    International markets

    On US markets, the Dow Jones inched up 0.02% but the Nasdaq closed 0.33% lower yesterday. The mixed results came after the Federal Reserve expressed concern about weakness in the labour markets, and the service sector reported an improvement that was less than expected.

    Japan's Nikkei average fell 0.46% this morning, after Canon was downgraded by a brokerage, and Japan Airlines plummeted after news that it would be reporting a $13.3 billion net loss. Commodity-related shares shaved off gains after China's central bank’s surprise rate increase.
    Hong Kong’s Hang Seng finished 0.66% down on profit taking, and financial stocks took a hit after the Chinese central bank restricted liquidity.

    The British FTSE 100 had slipped 0.28% by midday after losses in banking and mining counters, as investors tread carefully before the announcement of the UK interest rate decision.


    Share price news

    Eastern Platinum Limited (share code: EPS) shot up 11.27% to sell at R7.80 a share at noon, after 36 deals traded 139 090 shares. Anooraq Resources Corporation (share code: ARQ) rose to R7.45 a share, a 6.43% rise after four deals exchanged 11 900 shares.

    Auto parts company Dorbyl Limited (share code: DLV) lost 9.77% as shares fell to R3.60 each after 5 100 shares were exchanged in two deals. Caxton (share code: CAT) shares lost further ground today, falling 8% to R14.26, after traders exchanged 2 391 shares in 11 deals.

    Permalink2010-01-07, 12:15:07, by Natalie Email , Leave a comment

    Gold mining shares continue to boost JSE

    Local markets

    The JSE All Share had inched up by 0.32% at midday on Wednesday, with gains in gold mining stocks leading the rally. The local bourse sought direction from European markets, encouraged by stronger closes in Asia.

    The rand was trading slightly lower at R7.32 to the US dollar at 12:00, retreating after almost reaching its highest level in three months yesterday.

    Gold was selling at $1125.92 an ounce, up 0.8% however a stronger dollar-euro exchange rate limited further gains.

    International markets

    Yesterday, the Dow Jones closed 0.11% lower while the Nasdaq managed to cling on to 0.01% in the black. Initial gains that came as Ford Motor Co reported higher factory orders and vehicle sales were offset by a drop in US pending home sales.

    Japan's Nikkei index rose 0.46% this morning to hit its highest close in 15 months. Banking shares gained but further increases were limited as investors took profits after recent rallies.
    The Hang Seng finished 0.62% higher, as exporter stocks rose on renewed investor hopes for economic recovery and improved turnovers for 2010.
    The FTSE 100 had lost 0.22% by noon Johannesburg time, after losses in energy and retail shares weighed on the British bourse.

    Share price news

    In the electronic equipment sector, Amecor (share code: AER) rose 9.57% after two deals exchanged 11 800 shares, to sell at R1.26 at midday. Jubilee Platinum (share code: JBL) was selling at R4, an increase in share price of 5.26% after seven deals traded 38 050 shares.

    Also in the platinum sector but on its way down was Platmin Limited (share code: PLN) whose shares fell 9.92% to R9.90, after 17 deals exchanged 36 988 shares.
    In the publishing and printing sector, Caxton & CTP Publishers and Printers (share code: CAT) slid 4.93% to trade at R14.26 a share, after 1 365 shares were exchanged in 5 deals.

    Permalink2010-01-06, 12:21:00, by Natalie Email , Leave a comment

    Rising commodity prices boost global resource stocks

    Local markets

    On Tuesday at 12:00, gains in the gold mining sector had helped to lift the JSE by 0.28%. Although volumes continued to be low, rising commodity prices boosted resource shares.

    The rand had strengthened to trade at R7.30 to the US dollar at noon, as the dollar bobbed about and US equities looked to open higher today, which inspired greater risk appetite amongst investors.

    Oil cost $80.19 a barrel, rising 1.51% to continue its recent rally following the unexpectedly cold weather in parts of the US and Europe, which increased demand for heating fuel.


    International markets

    On US markets yesterday, the Dow Jones rose 1.5% and the Nasdaq climbed 1.73% to reach their highest closes in 15 months, after the manufacturing sector showed evidence of growth for a fifth month in a row.

    In Japan, the Nikkei average closed 0.25% up this morning after gains across the board. Investor confidence was given a lift by news of growth in the US manufacturing sector, which is hoped to indicate global economic recovery.

    Hong Kong’s Hang Seng index rose 2.09% after energy and metal stocks rallied, supported by higher commodity prices. Banks also rose on improved investor sentiment and hopes for recovery in 2010.

    The FTSE 100 had lost 0.06% by midday, retreating after yesterday’s rally as gains in banking stocks just managed to offset by losses in retail and pharmaceutical stocks.


    Share price news

    The top mover up at midday, Village Main Reef Gold Mining Company Limited (share code: VIL) was selling at R1.12 a share, after one deal of 3 000 shares boosted the share price by 10.89%. IPSA Group (share code: IPS) rose 7.89% to sell at R1.64, after three deals exchanged 8 420 shares.

    Platmin Limited (share code: PLN) fell 7.01% to trade at R11.15 a share at noon, after six deals exchanged 17 720 shares. Investment bank Cadiz Holdings Limited
    (share code: CDZ) dipped to R3, a loss of 6.25% after 2 000 shares were traded in one deal.

    Permalink2010-01-05, 12:24:21, by Natalie Email , Leave a comment

    Trade slow in first session of 2010

    Local markets

    At midday on the first session of 2010, the JSE All Share had edged up 0.5%, led by gains in the basic materials sector. Analysts expect the local bourse to take a lead from mixed international markets as investors return slowly from the holidays.

    The rand was trading at R7.34 to the US dollar, recovering slightly after earlier losses that came as the dollar strengthened.

    Oil cost $79.08 a barrel at noon, hovering around the $80 mark after news that Russia ceased supplying oil to Belarus, and on further cold weather in the US.


    International markets

    The US markets were closed on Friday for the New Year’s Day public holiday.

    This morning, Japan’s Nikkei index closed 1.03% higher, after exporter stocks gained on the back of a weaker yen, and fewer unemployment claims in the US boosted hopes for an economic comeback.

    The Hang Seng finished 0.23% lower, after investor concern over Beijing’s fundraising plans and policy changes negatively impacted trading in bank shares.

    The FTSE 100 had inched 0.54% higher by midday, continuing the end of last year’s rally as banking, oil and mining stocks gained.


    Share price news

    Fortress Income Fund Limited in the real estate investment trusts sector gained 14.46% as share prices rose to R1.90 at 12:00, after one deal of 1 790 shares.

    In the bulding and construction materials sector, Distribution And Warehousing Network Limited (share code: DAW) climbed 4.86% to sell at R7.55 a share, after a deal of 5 000 shares.

    Comair Limited (share code: COM) fell to R2.65 a share at midday, a loss of 11.67% after a single deal of 7 600 shares.

    Insurers Mutual & Federal (share code: MAF) tumbled 8.97% to trade at R20.70 a share, after five deals exchanged 16 275 shares.

    Permalink2010-01-04, 12:34:13, by Natalie Email , Leave a comment