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    Recovery in commodities lifts JSE

    Local markets

    Friday midday saw the JSE All Share inch up 0.17%, recovering after a rebound in commodity prices, and led by gains in gold mining and oil and gas stocks.

    The rand was trading at R7.73 to the US dollar, tracking the euro but remaining within a steady range.

    Precious metal gold was selling 1.47% up at $1112.14 an ounce, as the euro continued to strengthen against the dollar, but investors were cautious before the release of US economic data.

    International markets

    The Dow Jones lost 0.51% yesterday, while the Nasdaq dipped 0.08% after poor jobs data and sales of durable goods caused concern amongst US investors.

    Japan's Nikkei finished 0.24% higher this morning, with better-than-expected domestic output offsetting investor worries about the health of economic recovery in the US.
    In Hong Kong, the Hang Seng gained 1.03% as investors bought up bargains of Chinese finance shares.

    Britain's FTSE 100 had risen 0.9% by midday, led by gains in oil and mining shares after commodity prices rallied.

    Share price news

    In the gold mining sector, Simmer and Jack Mines Limited (share code: SIM) rose 10.77% to R1.44 a share, after investors traded 3 588 514 shares in 169 deals.

    After 1 019 deals totaling 638 417 shares, Gold Fields Limited (GFI) rose to R89.99 a share at noon, a gain of 2.39%.

    Losing ground in the construction sector was Basil Read Holdings Limited (BSR), whose shares fell 2.02% to R12.15 after 29 deals saw the exchange of 80 138 shares.

    After 259 207 shares were traded in 342 deals, SABMiller PLC (SAB ) fell 1.69% to sell at R202 a share at noon.

    Permalink2010-02-26, 12:35:46, by Natalie Email , Leave a comment

    Profit taking weighs on JSE

    Local markets

    At midday on Thursday, the JSE All Share had lost 0.03% as investors took profits from gold mining and basic materials, as well as a broad range of other stocks.

    The rand was selling at R7.80 to the US dollar, weaker in line with losses on Asian share markets, and a softer euro-dollar exchange rate.

    Brent crude slipped 0.19% to sell at $76.85 a barrel at noon, with global oil inventories still outweighing demand.

    International markets

    Yesterday on US markets, the Dow Jones rose 0.89% and the Nasdaq gained 1.01% after reassurances from Federal Reserve Chairman Ben Bernanke that interest rates will remain low.

    The Japanese Nikkei fell 0.95% as the yen rose and hurt exporters, which outweighed earlier gains that came after news of continuing low interest rates in the US.
    In Hong Kong, the Hang Seng dipped 0.33% as Chinese banks lost on worries of further monetary tightening, offsetting gains in property stocks.

    Better-than-expected results from Royal Bank of Scotland led the FTSE 100 up by 0.01% at noon, but these gains were partially offset by losses in mining stocks.

    Share price news

    The announcement of positive results from Massmart Holdings Limited (share code: MSM) set of a flurry of activity, with 709 deals trading 1 120 244 shares, which sent the share price up 3.41% to R91 at midday.

    Aspen Pharmacare Holdings (APN) rose 2.22% to sell at R69 a share, after investors traded 281 608 shares in 385 deals.

    After 453 873 shares were exchanged in 484 deals, Murray and Roberts Holdings Limited (MUR) fell 2.69% to R38 a share.

    Vodacom Group Limited (VOD) slipped 2.44% to R53.66 a share, after investors traded 1 148 551 shares in 1 077 deals.

    Permalink2010-02-25, 12:40:41, by Natalie Email , Leave a comment

    Negative global sentiment weighs on JSE

    Local markets

    At 12 noon on Wednesday, the JSE All Share had fallen 0.95%, led down by losses in the basic materials index, and influenced by negative international sentiment.

    The rand was R7.77 to the US dollar at 12:00, weaker slightly as it continued to trail after a weaker euro.

    Gold was selling at $1091.92 an ounce, down 0.86% as weaknesses in other commodities staunched the recovery of the precious metal through bargain hunting.

    International markets

    The Dow Jones closed 0.97% lower yesterday, alongside a 1.28% fall in the Nasdaq, after a steep decline in consumer confidence caused investors to be anxious about the strength of economic recovery.

    Japan's Nikkei fell 1.48% this morning, as losses in exporters came on the back of a stronger yen and reports of a drop in American consumer confidence.

    The Hang Seng lost 0.75% as investors took profits after the Hong Kong index’s recent rally, after becoming concerned about the pace and health of global economic recovery.

    The FTSE 100 was 0.06% down by midday SA time, as higher oil prices lifted energy shares and small gains could be found in banks and some defensive shares, but were not enough to offset losses in mining stocks.

    Share price news

    Gaining 5% as shares climbed to R3.15 at midday was Afrimat Limited (share code: AFT) in the building and construction materials sector, after 172 171 shares were traded in 13 deals.

    British American Tobacco PLC (BTI) rose to R267.39 a share, a 1.67% gain after investors exchanged 194 040 shares in 409 deals.

    After one deal of 305 400 shares, ELB Group Limited (ELR) in the construction sector fell 12.96% to sell at R10.01 a share.

    After 2 890 288 shares were exchanged in 188 deals, Simmer and Jack Mines Limited (SIM) lost 7.38% to sell at R1.13 a share.

    Permalink2010-02-24, 12:27:17, by Natalie Email , Leave a comment

    JSE inches up, awaiting direction from global markets

    Local markets

    By noon on Tuesday, the JSE had inched up 0.3%, as investors keep watch on international markets.

    The rand was trading at R7.66 to the US dollar, following movements of the euro as traders await local gross domestic product data due this afternoon.

    Oil prices continued to climb 0.44% to $77.34 a barrel at noon, despite slow US crude demand.


    International markets


    The Dow Jones lost 0.18% yesterday, while the Nasdaq slipped 0.08% as investors bought health insurance and bank stocks, but paused before congressional testimony by Federal Reserve Chairman Ben Bernanke.

    Japan's Nikkei average slid 0.47% this morning, after exporters lost steam ahead of news from the US Federal Reserve Chairman Ben Bernanke.

    Hong Kong shares lifted 1.21% to reach their highest level in almost three weeks. Property shares led gains following strong results at a government land auction.

    In the UK, the FTSE 100 had risen 0.51% by 12:00, as banking shares gained on news of more corporate executives waiving their bonus claims.

    Share price news

    In 399 deals of 559 853 shares, Mondi PLC (share code: MNP) rose 4.34% to R45.70 a share at noon.

    Discovery Holdings Limited (DSY) rose 3.25% to sell at R33.35, after 384 161 shares were exchanged in 317 deals.

    After 25 689 shares were traded in 6 deals, 1Time Holdings Limited (1TM) fell 8.18% to R1.01 a share at midday.

    Dorbyl Limited (DLV) dropped 5% to sell at R3.80 a share, after 10 deals exchanged 50 000 shares.

    Permalink2010-02-23, 12:16:07, by Natalie Email , Leave a comment

    Gains in commodity shares boost global markets

    Local markets

    Monday noon saw the JSE All Share up 0.91%, led by gains in the oil and gas and basic materials sectors, after the US dollar weakened and boosted commodities.

    The rand was trading in a range at midday, exchanging at R7.66 to the US dollar and following a stronger euro.

    Oil was selling at $77.82 a barrel, climbing 1.06% after strikes at Total and Iran's nuclear programme had traders concerned.

    International markets

    On Friday, investors saw the increase in the Federal Reserve's discount rate as a positive sign of economic recovery, but were concerned that the eventual withdrawal of money will damage US stock markets. The Dow Jones inched 0.09% higher, and the Nasdaq gained 0.1%.

    This morning, Japan's Nikkei lifted 2.74% to reach a three-week high, led by gains in exporters after positive investor sentiment in the US regarding economic recovery.
    The Hang Seng rose 2.43% as investors bought up bargains in beaten-down bank stocks, encouraged by activity on Chinese markets.

    The FTSE 100 had inched up 0.18% by midday after a flat morning’s trade. Gains in commodity and bank shares just managed to offset losses in pharmaceuticals.

    Share price news

    After 71 deals totaling 314 436 shares, Petmin Limited (share code: PET) rose 7.80% to R2.35 a share at 12:00.

    Eqstra Holdings Limited (EQS) climbed 4.84% to sell at R6.50, after 105 090 shares were exchanged in 9 deals.

    Investors traded 141 960 Resilient Property Income Fund (RES) shares in 44 deals, sending the share price down to R25.65, a loss of 3.21%.

    Redefine Income Fund Limited (RDF) fell 2.01% to R7.30 a share, after 2 323 768 shares were traded in 190 deals.

    Permalink2010-02-22, 13:36:47, by Natalie Email , Leave a comment

    US discount rate hike shakes global markets

    Local markets

    On Friday, losses in gold mining and basic materials stocks had led the JSE All Share down by 1.07 at midday, after a stronger US dollar weighed on commodity prices.

    The rand was trading at R7.70 to the US dollar, staying steady despite moves on the dollar market.

    Oil cost $76.25 a barrel at noon, climbing 0.33% but still below the $78 mark after the US Federal Reserve increased an emergency lending rate. Sentiment took a hit from news of higher-than-anticipated US crude oil stockpiles.

    International markets

    The Dow Jones gained 0.81% and the Nasdaq rose by 0.69% yesterday, stretching the recent rally into its third day as positive corporate results and manufacturing data suggest economic recovery will continue.

    Japan's Nikkei average fell 2.05% this morning, led down by resource shares after the US Federal Reserve's discount rate increase shook commodity prices.

    Hong Kong shares fell 2.59% after the Hang Seng’s banking stocks took a hit from the US Federal Reserve’s hike of the discount rate, which caused concern about stricter monetary controls.

    The FTSE 100 continued its rally into a fifth day, and had risen 0.06% by 12:00 as weaknesses in mining shares were overcome by gains in bank and defensive shares.

    Share price news

    After 14 deals totaling 126620 shares, Delta EMD Limited (share code: DTA) rose to R14.25, an increase in share price of 1.79%.

    Grindrod Limited (GND) rose 1.73% to R14.70 by midday, as investors traded 972 149 shares in 167 deals.

    Investors traded 666 789 shares in Murray and Roberts Holdings Limited (MUR) in 706 deals, sending the share price down 4.27% to R39.92.

    In a flurry of activity this morning, Anglo American PLC (AGL) shares fell to R288.30, a loss of 2.91% as investors exchanged 2239725 shares in 1 822 deals.

    Permalink2010-02-19, 12:17:32, by Natalie Email , Leave a comment

    JSE down on profit taking

    Local markets

    By midday on Thursday, the JSE All Share had fallen 0.56%, weighed on by losses in gold mining and basic materials stocks as investors took profits after the recent rally.

    The rand was selling at R7.62 to the US dollar at 12:00, softening slightly as it followed the euro, which was weaker as traders worried about European debt problems.

    Oil prices fell 0.23% to $74.83 a barrel, after petrol and distillate demand in the US continues to be slow.

    International markets

    On US markets yesterday, the Dow Jones closed 0.39% higher and the Nasdaq was up 0.55% as positive economic data and better-than-expected company results boosted hopes for economic recovery.

    Japan's Nikkei index ended 0.28% higher this morning, its highest close in two weeks, after investors bought retailers and other defensive stocks and offset losses from profit taking.

    The Hang Seng lost 0.54% in thin trade on profit taking after the Hong Kong index’s recent rally, as investors became concerned that markets were over-bought and continued to fret about China's policy tightening.

    Britain's FTSE 100 had inched up by 0.09%, overcoming earlier losses in mining and bank shares which led investors to consolidate recent gains.

    Share price news

    Italtile Limited (share code: ITE) rose 13.33% to R4.25 a share, as 171 818 shares were exchanged in 15 deals by noon today.

    After 33 deals totalling 2 531 500 shares, Mix Telematics Limited (MIX) rose to R1.08 a share, a gain of 5.88%.

    Falling 6.25% to R1.50 a share was Jasco Electronics Limited (JSC), after 108 500 shares were traded in three deals.

    Simmer and Jack Mines Limited (SIM) fell 5.30% to R1.25 a share, as 80 deals traded 681 755 shares.

    Permalink2010-02-18, 12:24:59, by Natalie Email , Leave a comment

    Resources continue to boost global markets

    Local markets

    On Wednesday, the JSE All Share had risen by 1.25% at midday, as gains in resource stocks on firmer commodity prices lifted the local bourse.

    While traders await this afternoon’s Budget Speech for further direction, the rand was trading at R7.67 to the US dollar at 12:00, strengthening as it followed the movements of the euro.

    Oil cost $75.38 a barrel, a 1.86% gain on the back of a weaker dollar and positive global equity markets.

    International markets

    Yesterday, the Dow Jones closed 1.68% higher and the Nasdaq finished up 1.40%, after pharmaceutical company Merck published solid revenue figures, and positive regional manufacturing data boosted sentiment.

    Japan's Nikkei index gained 2.72% this morning, its largest single-day increase in over two months. Investors bought up resource shares and engaged in short-covering after a recent sell-off.

    The Hang Seng rose 1.31% as Hong Kong shares were buoyed by oil and mining stocks, as a rally on US markets offset the effects of China’s decision to raise bank reserve requirements again this year.

    At noon, Britain’s FTSE 100 had lifted 0.71% as financial shares led gains, after Legal & General reported strong fourth-quarter results for last year.

    Share price news

    After five deals of 26 000 shares in total, Keaton Energy Holdings Limited (share code: KEH) rose 7.32% to sell at R6.45 a share at midday.

    Impala Platinum Holdings (IMP) gained 3.53% to trade at R194.63 a share after a very active morning, when 1 179 586 shares were exchanged in 1583 deals.

    Losing 16.67% was Rare Holdings Limited (RAR), after one deal of 9 500 shares sent the share price down to R1.

    Investment company Pallinghurst Resources Limited (PGL) lost 3% to sell at R4.85 a share, after 202 405 shares were traded in 22 deals.

    Permalink2010-02-17, 12:40:56, by Natalie Email , Leave a comment

    Resources lift JSE as commodity prices rise

    Local markets

    At 12:15, the JSE All Share had risen by 0.63% led upwards by gold mining shares as metal prices firmed, while banks slid again under renewed concern over credit tightening from China.

    The rand was trading at R7.69 to the US dollar, with little action due to yesterday’s public holiday in the US.

    Gold was selling at $1 115.30, an increase of 1.29% as investors’ risk appetite stayed low in light of Greece’s debt problems.

    International markets

    US markets were closed yesterday for a public holiday. 0.21% up Japan's Nikkei average rose 0.2 percent on Tuesday in light trading, with gains limited by concerns over the impact of China's efforts to curb bank lending and Greece's fiscal woes.

    The Hang Seng was closed today for a public holiday. The FTSE 100 was 1.04% higher at 12:15 SA time, led by bank shares after Barclays posted unexpectedly positive 2009 results. Commodity shares also rose on the back of higher oil and metals prices.

    Share price news

    Just after midday, Brimstone Investment Corporation Limited (share code: BRN) rose to R10 a share, a gain of 4.17% after 649 948 shares were exchanged.

    Also active was Winhold Limited (WNH) in the builders merchants sector, moving up 3.08% to R1.34, after six deals traded 330 594 shares.

    Merchant & Industrial Property Limited (MIP) in the real estate holdings sector slid 2.94% to R3.30, after investors traded 30 000 shares in just one deal.

    Also losing ground was Gold One International (GDO), as shares fell 1.43% to R2.07, after seven deals exchanged 49 510 shares at 12:30pm.

    Permalink2010-02-16, 12:49:31, by Natalie Email , Leave a comment

    Mixed global markets as US, Asia close for public holiday

    Local markets

    At midday on Monday, the JSE All Share was higher by 1.13% as the oil and gas and basic materials sectors continued to gain.

    The rand was steady at R7.71 to the US dollar at 12:00, amidst a quiet morning’s trade as US markets will be closed today for the US Presidents Day holiday.

    Gold was selling at $1098.17 an ounce, inching up 0.47% as physical demand remained solid despite increasing dollar strength, which usually discourages buying of the precious metal.

    International markets

    On Friday, the Dow Jones closed 0.44% lower but the Nasdaq managed a 0.28% gain. Investors fear that recent US economic data and China’s monetary tightening may indicate a weaker global economic recovery than originally hoped for.

    Japan's Nikkei lost 0.78% this morning as investors worried about increasing Chinese bank reserve requirements, which offset the impact of better-than-expected GDP data for Japan.
    The Hang Seng and Shanghai indices were closed for a public holiday today.

    In the UK, the FTSE 100 had risen 0.75% by noon, lifted by rebounding bank and commodity shares, while British Airways gained on rumours of a "oneworld" global alliance.

    Share price news

    Chemical Specialities Limited (share code: CSP) rose 13.13% to R1.12 a share at midday, after 414 054 shares were traded in 25 deals.

    Education and employment company Kelly Group Limited (KEL) gained 10.89% to sell at R4.99 a share, after ten deals saw the exchange of 878 165 shares.

    After ten deals totaling 1 063 709 shares, computer services company Gijima AST Group Limited (GIJ) fell 2.54% to trade at R1.15 a share at noon.

    Marshall Monteagle Holdings SA (MTE) in the builders merchants sector fell to R10.75 a share, a loss of 2.27% after two deals exchanged 120 000 shares.

    Permalink2010-02-15, 12:24:59, by Natalie Email , Leave a comment

    Stronger resources add to positive sentiment, lifting JSE

    Local markets

    Gains in the basic materials and gold mining sector led to a 0.71% rise in the JSE All Share by midday, adding to support from positive international sentiment and higher closes on US and Asian markets.

    The rand strengthened slightly to trade at R7.68 to the US dollar at noon, ignoring a weaker euro and staying within a range.

    Oil recovered 1.33% to sell at $72.96 a barrel, after being pressured by a stronger dollar that came on the back of lagging details about Greece’s debt bailout package.

    International markets

    The Dow Jones closed 1.05% higher while the tech-orientated Nasdaq gained 1.38% yesterday, after European leaders promised to support Greece, and solid Chinese data boosted mining and material stocks.

    The Nikkei finished 1.29% higher this morning on bargain hunting for exporter stocks and other shares as fears of a broader euro zone crisis began to dissipate.

    The Hang Seng fell 0.11% ending a three-day rally, as profit-taking from investors took place after they relaxed their concern about policy tightening.

    Britain's FTSE 100 had risen 0.61% by noon as stronger commodity shares led the index into the fifth session of gains, as fears over Greece’s debt ebbed.

    Share price news

    After computer hardware company Mustek Limited (share code: MST) announced an improved headline earnings per share for the six months ended 31 December 2009, investors quickly made their moves. In 107 deals, 880 564 shares were traded to send the share price up 27.76% to sell at R3.13 at midday.

    IPSA Group (IPS) rose 7.41% to R1.45 a share, after 42 000 shares were exchanged in five deals.

    In the real estate investment sector, Fortress Income Fund Limited (FFB ) fell to R1.75 a share, a loss of 7.89% after 217 110 shares were traded in four deals.

    Gold One International Limited (GDO) dipped 4.31% to sell at R2, after ten deals saw the exchange of 68 225 shares.

    Permalink2010-02-12, 12:21:28, by Natalie Email , Leave a comment

    Possible EU bailout for Greece boosts global sentiment

    Local markets

    Positive international sentiment had lifted the JSE All Share by 0.71% at 12:00. The gold mining and basic materials sectors led the upward movement.

    The rand was selling at R7.66 to the US dollar at midday, as the local currency took direction from a firmer euro after rumours of a bailout package for Greece.

    Gold rose 0.01% to $1078.10 an ounce, in reaction to the euro strengthening against the US dollar ahead of the European Union’s meeting to decide on an action plan for Greece’s debt problem.

    International markets

    Yesterday, the Dow Jones fell 0.2% and the Nasdaq lost 0.14% as investors were concerned by Federal Reserve Chairman Ben Bernanke's strategy for after economic recovery.
    The Nikkei index was closed today for a public holiday in Japan.
    This morning, the Hang Seng finished 1.85% higher as Hong Kong’s investor concern over a potential rise in benchmark deposit and lending rates in China eased.
    In Britain, the FTSE 100 had risen 0.99% by noon, as commodity shares rallied and banking stocks rose ahead of the EU’s meeting to discuss a possible bailout of Greece.

    Share price news

    Computer hardware company Pinnacle Technology Holdings Limited (share code: PNC) rose 7.69% to R3.50 a share at midday, as investors traded 217 950 shares in 31 deals.

    Also active this morning was Petmin Limited (share code: PET) in the metals and minerals sector, which gained 3.88% to sell at R2.14 a share, as eight deals saw the exchange of 260 861 shares.

    CIC Holdings (share code: CCI) fell 6.45% after two deals exchanged 30 000 shares, to sell at R1.45 at midday.

    After 56 deals totaling 1 246 375 shares, investment company Brimstone Investment Corporation Limited (share code: BRN) lost 3.50% to trade at R9.65 a share.

    Permalink2010-02-11, 12:50:47, by Natalie Email , Leave a comment

    Rescue plan for Greece calms global markets

    Local markets

    On Wednesday at 12:00, the JSE All Share had edged up 0.21% as investors traded warily in light of fiscal troubles in Greece, Portugal and Spain.

    The rand was trading at R7.69 to the US dollar, remaining within yesterday’s range.Traders awaited a response from the euro to news that Greece will receive debt assistance from other European nations, which will affect the rand’s movement.

    Oil cost $71.57 a barrel, recovering 1% after data indicated an increase in US crude oil inventories, which suggests weak energy demand.

    International markets

    The Dow Jones rose 1.52% and the Nasdaq lifted 1.17% yesterday on US markets, boosted by news of fiscal aid for Greece. Gains were broad, but rising commodity prices buoyed resource-related shares.

    The Japanese Nikkei rose 0.31% this morning, with a recovery in manufacturing shares which had fallen as a result of European fiscal concerns.

    The Hang Seng fell xx% as investors took profits on Hong Kong shares following yesterday’s rally, and for the moment ignored news of help for Greece. Gains in financial stocks lifted the FTSE 100 by 0.41% at midday, after reports that Greece would be assisted in relieving the country’s debt problems.

    Share price news

    Combined Motor Holdings Limited (share code: CMH) was the top mover upwards at midday, rising 11.90% to R9.40, after investors traded 8655 shares in ten deals.

    In the diamond sector, Trans Hex Group Limited (share code: TSX) gained 5.56% to sell at R3.61, after five deals exchanged 9 200 shares.

    Zambia Copper Investments Limited (share code:ZCI) lost 5.77% to sell at R12.25, after 342 shares were exchanged in two deals.

    After 30 deals totaling 134 641 shares, electrical equipment firm Allied Electronics Corporation Limited (share code: ATNP) fell 3.88% to R24.99 at noon.

    Permalink2010-02-10, 12:58:54, by Natalie Email , Leave a comment

    Gains in resources alleviate some pressure on global markets

    Local markets

    By midday on Tuesday, a stronger resource sector had boosted the JSE All Share, which rose 0.87%.

    The South African rand was trading at R7.66 per US dollar at 12:00, once again tracking movements of the euro-dollar exchange rate.

    Gold cost $1 069 an ounce, recovering 0.71% after last week’s three-month low that followed a sell-off in commodity stocks.

    International markets

    Yesterday, the Dow Jones closed 1.04% down, and the Nasdaq ended 0.7% lower after investors disbursed themselves of bank shares, as they continued to be concerned about national debts in Europe.

    In Japan, the Nikkei average edged down 0.19% this morning to hit its lowest close in two months, as anxiety over the euro zone’s fiscal issues continued to dent investor confidence.

    The Hang Seng closed 1.22% higher up as Hong Kong shares gained on higher resource prices. Further gains were limited by investor concern over European debt troubles.

    By noon, the FTSE 100 had edged up 0.65% as mining and banking stocks rose, though investors remained cautious in light of fiscal problems in Europe.

    Share price news

    Electrical equipment company ARB Holdings Limited (share code: ARH) was top mover upwards at midday, gaining 12.20% as share prices rose to R2.30. Investors traded 51 250 shares in five deals.

    In the steel sector, Highveld Steel and Vanadium Corporation Limited (share code: HVL) rose 3.66% to R63.23 a share, after 17 292 shares were traded by investors.

    Falling 8.88% to R100 a share was Ceramic Industries Limited (share code: CRM) in the building and construction materials sector, as investors traded 3 790 shares in five deals.

    Hosken Consolidated Investments Limited (share code: HCI) fell 8.22% to R67, after 31 deals exchanged 26 745 shares.

    Permalink2010-02-09, 12:17:51, by Natalie Email , Leave a comment

    Rising commodity prices boost resource stocks

    Local markets

    The JSE All Share had risen 0.76% by noon on Monday, boosted by increases in commodity prices which lifted resource stocks.

    The rand was selling at R7.72 to the US dollar, strengthening slightly as the euro rallied against the dollar.

    Brent crude cost $70.16 a barrel, up 2.83% as traders sought bargains and banked on increasing demand in the mid-Atlantic US.

    International markets

    On US markets on Friday, the Dow Jones rose 0.1% and the Nasdaq lifted 0.74% after mixed signals from employment data and growing concern over European fiscal troubles dented investor confidence.
    Japan's Nikkei fell 1.05% at its close this morning, hitting its lowest level in two months, after a stronger yen took its toll on exporter stocks.

    Hong Kong shares dipped 0.58%, continuing the last two sessions’ losses as investors remained concerned about European debt problems and the effect they will have on global economic recovery.

    Britain's FTSE 100 had gained 0.66% by 1pm SA time, as commodity shares strengthened on rises in metal prices.

    Share price news

    ABE Construction Chemicals (share code: ABU) rose 7.50% to R1.29 a share, as 20 000 shares were traded in one deal.

    Anooraq Resources Corporation (share code: ARQ) gained 6.36% after four deals totaling 3 703 shares, raising the share price to R9.20.

    Witwatersrand Consolidated Gold (share code: WGR) fell 7.69% to R60 a share, after 2 160 shares were exchanged in three deals.

    Palabora Mining Company Limited (share code: PAM) lost 4.67% after 2 022 shares exchanged hands, sending the share price down to R100.10 each at midday.

    Permalink2010-02-08, 13:28:52, by Natalie Email , Leave a comment

    Global markets down as European debt problem causes worry

    Local markets

    The JSE All Share had fallen 1.69% by midday on Friday, taking direction from weaker global markets. The oil and gas sector led the slide downwards, lower by 2.05%.

    At noon the rand was trading at R7.70 to the US dollar, sinking on its overnight levels.

    Gold cost $1052.90 an ounce, down 2.78% and near three-month lows, as risk appetite declined on concerns over rising national debt in Europe.

    International markets

    On US markets, the Dow Jones finished 2.16% lower yesterday, its worst loss in over months, while the Nasdaq gave up 2.99%. European debt problems and a surprise hike in US unemployment statistics sparked a sell-off.

    Japan's Nikkei average fell 2.89% this morning, reaching a seven-week low as a stronger yen hurt exporters and investors were concerned about losses on US markets.
    The Hang Seng tumbled 3.33% as investors became cautious after news of worsening fiscal problems in Europe.

    The FTSE 100 had slipped 1.35% by midday, led down by commodity shares and continuing yesterday’s losses as the British index tracked weaker US and Asian markets.

    Share price news

    Top gainer at midday was African Oxygen Limited (share code: AFX) in the specialty chemicals sector, whose shares rose 4.24% to R21.38, after 19 282 shares were exchanged in nine deals.

    In the platinum sector, Wesizwe Platinum Limited (share code: WEZ) rose to R2.48 a share, an increase of 3.33% as seven deals exchanged 18 722 shares.

    Sliding 11.11% was auto parts firm Dorbyl Limited (share code: DLV), whose shares fell to R4, after one deal traded 2 500 shares.

    Computer services company Paracon Holdings Limited (share code: PCN) also lost 11.11% as one deal of 1 748 shares sent the price down to R1.60.

    Permalink2010-02-05, 12:48:28, by Natalie Email , Leave a comment

    JSE joins global markets in the red

    Local markets

    With negative world sentiment weighing on the JSE All Share, the local bourse had given up 1.25% by midday, with resource stocks leading the downward slide.

    The rand remained steady at R7.52 to the US dollar, after yesterday afternoon’s dip as the euro came off against the American currency.

    Oil cost $74.73 a barrel at noon, falling 1.67% on news of increasing crude oil stockpiles in the US, an indicator of weak energy demand.

    International markets

    The Dow Jones slid 0.26% and the S&P 500 lost 0.55%, while the Nasdaq managed to cling on to a 0.04% rise yesterday, after Obama promised to continue with banking and health care reform and revived fears of more regulation.

    Japan's Nikkei index closed 0.46% down this morning, with more losses from Toyota as news of its recall gained momentum and Sharp published a smaller-than-expected quarterly profit.
    Hong Kong stocks finished 1.84% lower, after profit taking in bank shares occurred after the investment arm of China's sovereign wealth fund denied that it would purchase new shares from the country's major banks.

    The FTSE 100 had fallen 0.79% by noon, led down by energy shares after Shell reported poor quarterly results. Investors traded warily before the announcement of the Bank of England’s decision on monetary policy.

    Share price news

    In the household appliances sector, Nu-world Holdings Limited (share code: NWL) rose to R18.50 a share, a gain of 6.63% as one deal exchanged 300 shares.

    CIC Holdings (share code: CCI) gained 5.65% to sell at R1.31 a share, after 89 242 shares were sold in one deal.

    After six deals exchanged 1 264 085 shares, Comair Limited (share code: COM) fell 16% to trade at R2.52 a share at midday.

    Losing more ground was Simmer and Jack Mines Limited (share code: SIM) which, after 187 deals traded 3 605 296 shares, fell to R1.51 a share, a loss of 6.79%.

    Permalink2010-02-04, 12:24:08, by Natalie Email , Leave a comment

    Oil and gas stocks lift JSE

    Local markets

    Wednesday midday saw the JSE All Share 0.96% higher, led upwards by gains in the oil and gas sector.

    At R7.42 to the US dollar, the rand strengthened slightly, remaining within a range as traders are without direction-giving data.

    Oil was selling at $76.30 a barrel at noon, recovering 1.73% after rising US crude inventories dented hopes of a recovery in energy demand.

    International markets

    Yesterday, better-than-expected corporate earnings and positive data set investors’ minds at ease for the moment after the market's recent sell-off. The Dow Jones rallied 1.09% and the Nasdaq closed 0.87% higher.

    Japan's Nikkei average finished 0.32% up this morning, as exporters rose after the release of solid data from the US, but further gains were limited by Toyota’s recall troubles took their toll on US sales.

    Hong Kong shares rose 2.22% to extend the Hang Seng’s rally to a third day, as investor concern about Beijing’s credit tightening began to ease.

    In the UK, the FTSE 100 had climbed 0.32% by noon SA time, with gains in mining and bank stocks offsetting losses in pharmaceuticals.

    Share price news

    ABE Construction Chemicals Limited (share code: ABU) was the top mover upwards at midday, as shares rose 7.76% to R1.25, after 12 500 shares were exchanged in one deal. ABE today reported a 3.4% increase in gross profits for the six months ended 30 November 2009.

    Coal of Africa Limited (share code: CZA) rose to R16.90 a share, an increase of 6.62% after 89 deals traded 200 580 shares.

    In the farming and fishing sector, Afrocentric Investment Corporation Limited (share code: ACT) fell 11.43% to R1.55 a share, after 60 000 shares were exchanged in two deals.

    Simmer and Jack Mines Limited (share code: SIM) in the gold mining sector slid to R1.66, a loss of 5.58% as 3 676 232 shares were traded in 264 deals.

    Permalink2010-02-03, 12:19:46, by Natalie Email , Leave a comment

    Recovery in resource stocks boosts JSE

    Local markets

    At noon on Tuesday, a recovery in basic materials and gold mining stocks had lifted the JSE All Share by 1.04%. Investors hunted for bargains after recent price slides.

    The rand was trading at R7.45 to the US dollar at midday, continuing to strengthen.

    Oil cost $73.38 a barrel, rising 1.92% on optimism about the economy though further gains were limited by increasing dollar strength.

    International markets

    The Dow Jones was up 1.17% and the Nasdaq up 1.11% at the close of US markets yesterday. Better-than-expected data from the manufacturing sector and Exxon Mobil earnings boosted investor sentiment.

    Japan's Nikkei index closed 1.63% higher this morning, after Toyota gained on news of its plan for recalled vehicles, and exporters rose on the back of a softer yen and positive manufacturing data from the US.

    China’s Shanghai index finished 0.23% lower after investors took profits, while Hong Kong’s Hang Seng rose 0.14% on gains in metal shares after commodity prices climbed.

    The British FTSE 100 slid 0.06% at midday, weighed on by losses in energy stocks after poor results from BP, which offset gains in mining stocks.

    Share price news

    In the coal sector, Keaton Energy Holdings Limited (share code: KEH) gained 6.39% after four deals traded 5 300 shares, lifting the share price to R6.49 at noon.

    Country Bird Holdings Limited (share code: CBH) in the farming and fishing sector rose to R3.40 after 500 shares were exchanged in one deal, an increase in share price of 6.25%.

    Metals and minerals firm Metorex Limited (share code: MTX) fell 7.21% to sell at R3.99 a share, after 1 500 274 shares were traded in 175 deals.

    After four deals traded 21 113 shares, Jasco Electronics Holdings Limited (share code: JSC) fell to R1.62, a loss of 4.71% in share price.

    Permalink2010-02-02, 12:29:51, by Natalie Email , Leave a comment