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    Small gains on JSE before Easter weekend

    Local markets

    On Wednesday at midday, the JSE All Share had risen 0.07% with small gains across the board before the Easter weekend.

    The rand had strengthened slightly to sell at R7.32 to the US dollar at noon, with positive local economic data providing support.

    Oil was selling at $80.74 a barrel, up 0.92% as traders anticipate positive crude oil inventory data from the US later today.

    International markets

    On US markets yesterday, the Dow Jones lifted 0.11% and the Nasdaq rose 0.26% after data showed increasing stabilization of the economy.

    Japan's Nikkei average fell 0.06% at its close this morning, the last day of the financial year, but further gains were expected in the new quarter.

    Hong Kong’s Hang Seng dropped 0.63% despite improved sentiment after US consumer confidence rose in March, which boosted exporters.

    Britain's FTSE 100 was 0.30% higher by midday, as commodity and bank shares recovered after recent falls.

    Share price news

    Metropolitan Holdings (share code: MET) in the life assurance sector gained 5.30% as shares rose to R15.90, after 474 deals exchanged 1 576 646 shares. Metropolitan announced this morning that agreement had been reached regarding the merger between Metropolitan and Momentum.

    RMB Holdings Limited (RMH) rose 2.80% to R32.35 a share, after 914 414 shares were traded in 545 deals. RMH released a cautionary announcement this morning regarding a potential restructuring.

    In the retail sector, JD Group Limited (JDG) fell to R44.19, a loss of 3.58% after investors traded 307 394 shares in 249 deals.

    After 5 deals exchanged 29 598 shares, 1time Holdings Limited (1TM) lost 1.74% as share prices fell to R1.13 each at midday.

    Permalink2010-03-31, 13:33:41, by Natalie Email , Leave a comment

    Higher commodity prices lift global markets

    Local markets

    At midday on Tuesday, the JSE All Share had risen 0.65%, with strong gains in the oil and gas and basic materials sectors, after commodity prices strengthened.

    The rand was selling at R7.36 to the US dollar at noon, following a stronger euro as concerns about Greece’s debt problems began to ease.

    Gold was selling at $1109.35 an ounce, rising 0.21% as the euro held steady against the US dollar, but remaining within a range.

    International markets

    Yesterday, the Dow Jones rose 0.42% and the Nasdaq gained 0.39% after mining and energy shares climbed on dollar weakness.

    Japan's Nikkei average closed 1.01% up to reach an 18-month closing high this morning, with commodity-related shares gaining on the back of an increase in commodity prices.

    Hong Kong’s Hang Seng rose 0.65%, but further gains were limited by investors taking profits after gains in banks during yesterday’s trading session.

    Britain’s FTSE 100 was flat at midday, 0.06% up though with strong gains from commodity stocks and banks.

    Share price news

    In the building and construction materials sector, Afrimat Limited (AFR) rose 2.73% to R6.40, after 547 087 shares were traded in 35 deals.

    Sasol Limited (SOL) rose to R308.15 a share, a gain of 2.16% as investors exchanged 1 449 897 shares in 1 903 deals.

    Investec PLC (INP) tumbled 2.21% to R61 a share, after 610 deals saw the exchange of 535 508 shares by midday. Investec announced today that it would be purchasing the entire issued share capital of Rensburg Sheppards PLC.

    Woolworths Holdings Limited (WHL) fell to R22.40 a share, a loss of 1.97% as investors traded 1 223 918 shares in 424 deals.

    Permalink2010-03-30, 12:46:52, by Natalie Email , Leave a comment

    JSE up at noon, tracking global markets

    Local markets

    At midday, the JSE All Share had risen 0.22%, in line with positive moves on international markets. Gold mining and basic materials sectors were the biggest gainers, while industrial and financial shares dropped points.

    The rand was trading at R7.38 to the US dollar, for the most part following a stronger euro.

    Oil prices rose 1.35% to R79.05 at midday, recovering as traders expect US data to show the world's largest economy is continuing its recovery.

    International markets

    The Dow Jones inched up 0.08% on Friday after EU leaders announced agreement on a standby bailout package for Greece, and March’s consumer sentiment data proved better than expected. Meanwhile the Nasdaq fell 0.10%, after a South Korean naval ship sank and technology shares dipped.

    Japan's Nikkei index slid 0.09%, as shares with high dividend yields such as Eisai dropped after going ex-dividend.

    Hong Kong’s Hang Seng gained 0.88% this morning, despite analysts predicting the opposite, expecting a retraction in lending from Chinese banks to negatively impact sentiment.

    Britain's FTSE 100 had risen 0.18% by noon, as mining shares gained on higher metal prices.

    Share price news

    Investment bank Barnard Jacobs Mellet Holdings Limited (share code: BJM) rose 10% to sell at R3.30 at midday, after 424 915 shares were exchanged in 8 deals.

    Esorfranki Limited (ESR) in the construction sector gained 4.65% after 472 660 shares were traded in 32 deals, which sent the share price up to R3.15.

    South Ocean Holdings Limited (SOH) in the electrical equipment sector fell 5.66% to R1.50, after 113 250 shares were exchanged in 9 deals.

    Just before midday, MTN Group Limited (MTN) traded 3 547 935 shares in a whopping 2 918 deals, which saw the share price rise 2.59% to R112.85.

    Permalink2010-03-29, 12:44:59, by Natalie Email , Leave a comment

    JSE consolidates after interest rate cut

    Local markets

    On Friday at noon, the JSE All Share was 0.07% down in flat trade, as investors consolidated their gains after yesterday’s surprise 0.5% interest rate cut.

    The rand was trading at R7.43 to the US dollar, returning to its range after reacting positively to yesterday’s drop in the repo rate.

    Oil cost $79.02 a barrel, up fractionally by 0.03% after uncertainty over Greece’s debt problem was eased by news of an agreement to assist the country, which inspired investors to buy riskier assets.


    International markets

    The Dow Jones finished 0.05% up but the Nasdaq dipped 0.06% on US markets yesterday. Investor sentiment continued to be poor following a weak US bond auction and worry over world debt.

    Japan's Nikkei index closed 1.55% higher this morning, with exporters leading gains on a weaker yen, and as investors bought shares to ensure dividends before the end of the financial year.

    In Hong Kong, the Hang Seng rose 1.32% as oil stocks gained on rising crude prices, and HSBC rose on belief that Greece won't default on its debts.

    Britain’s FTSE 100 was 0.08% down at midday, following movements on US markets as miners and banks retreated after yesterday’s gains.

    Share price news

    Wescoal Holdings Limited (share code: WSL) rose 6% to R1.06 a share, after investors traded 159 355 shares in 19 deals.

    In the broadcasting contractors sector, Kagiso Media Limited (KGM) gained 1.69% to sell at R15 a share, after 8 deals exchanged 451 037 shares.

    After 1 000 000 shares were traded in 11 deals, chemical company Spanjaard Limited (SPA) fell 23.08% to R3 a share.

    Shares in South Ocean Holdings Limited (SOH) in the electrical equipment sector fell 3.03% to R1.60, after 22 deals traded 528 500 shares.

    Permalink2010-03-26, 12:41:43, by Natalie Email , Leave a comment

    JSE flat, investors await MPC interest rate decision

    Local markets

    At 12:00 on Thursday, the JSE All Share had inched up 0.26% led by gains in financial stocks, with resource stocks following suit on rising commodity prices. Investors were cautious ahead of the MPC's rate decision, to be announced at 3pm today.

    The rand was selling at R7.36 to the US dollar at noon, strengthening slightly as the monetary policy committee meeting comes to a close after two days, with Governor Gill Marcus announcing the interest rate decision later this afternoon.

    Gold was selling at $1093.53 an ounce, recovering 0.32% after yesterday’s 6-week low. Further gains were limited by a stronger US dollar and concern about the result of a European Union summit.

    International markets

    Yesterday, US markets lost ground as uncertainty surrounding the European debt situation and home sales down to their lowest since 1963 weighed on sentiment. The Dow Jones slid 0.48% and the Nasdaq fell 0.68%.

    Japan's Nikkei average edged up 0.13% at its close this morning, as technology shares were boosted by solid earnings hopes and by a weaker yen.

    The Hang Seng fell 1.15% to their lowest level in three weeks, after corporate earnings from consumer goods exporter Li & Fung were not as high as expected.

    The FTSE 100 was 0.31% up at midday, as retailers gained after two top companies announced annual earnings higher than market expectations.

    Share price news

    Merafe Resources Limited (share code: MRF) in the metals and minerals sector rose 3.12% to R1.65 a share at noon, after 2 558 884 shares were exchanged in 109 deals.

    Retailer Massmart Holdings Limited (MSM) rose to R108.43 a share, a gain of 3.27% as investors traded 907 885 shares in 733 deals.

    Also in the metals and minerals sector, Metorex Limited (MTX) fell 2.05% to sell at R3.82 a share, after 101 deals exchanged 605 563 shares.

    After just 3 deals totaling 230 000 shares, ELB Group (ELR) in the construction sector fell 3.43% to R9.85 a share at midday.

    Permalink2010-03-25, 12:26:51, by Natalie Email , Leave a comment

    JSE slips, global markets up

    Local markets

    Despite starting in the black following gains on US markets yesterday, the JSE All Share had slipped 0.18% by noon, with small losses in almost every sector except for oil and gas shares.

    The rand was trading at R7.33 to the US dollar at 12:00, staying in a range after yesterday’s economic data was deemed to be rand positive.

    Oil was selling at $78.70 a barrel at noon, dropping 0.38% after news that US crude oil stockpiles had increased, causing renewed concern about economic recovery.

    International markets

    The Dow Jones closed 0.95% higher yesterday, while the Nasdaq rose 0.83%, led by gains in technology, industrial and materials sectors.

    Japan's Nikkei average climbed 0.38% to reach a two-month intraday high this morning, after technology shares rose to match gains in their US counterparts.

    The Hang Seng lifted 0.10% after BOC Hong Kong rose steeply on positive corporate earnings, while China Unicom lost steam after news of its plan to sell local-currency bonds.

    Britain’s FTSE 100 had risen 0.16% by midday, shadowing gains on US markets as investors await a statement from the Chancellor.

    Share price news

    Construction company Murray and Roberts Holdings Limited (share code: MUR) gained 2.02% as share rose to R39.38 at midday, after investors traded 760 994 shares in 758 deals.

    After 11 deals totaling 799 382 shares, Acucap Properties Limited (ACP) rose 1.53% to sell at R32.49 a share.

    Blue Label Telecoms Limited (BLU) lost 4.08% after 124 646 shares were exchanged in 8 deals, which sent the share price down to R4.70.

    In the metals and minerals sector, Mvelaphanda Resources Limited (MVL) fell 2.74% to R42.20 a share, after 124 491 shares were traded in 145 deals.

    Permalink2010-03-24, 12:26:47, by Natalie Email , Leave a comment

    JSE cautious ahead of key local economic data

    Local markets

    On Tuesday at midday, the JSE All Share had edged up 0.20%, led by gains in the basic materials sector. Investors were cautious ahead of important local economic data, due to be released this week.

    The rand was trading at R7.31 to the US dollar at 12:00, remaining range bound and slightly weaker before the release of the SARB's fourth quarter 2009 economic update, and Thursday’s MPC rate decision.

    Gold cost $1102.42 an ounce, rising 0.04% as investors sought bargains after the precious metal’s slide last session.


    International markets

    Yesterday, US markets lifted after President Obama’s healthcare reform bill was passed unanimously, with a 0.41% rise in the Dow Jones and a 0.88% boost for the Nasdaq.

    Japan's Nikkei lost 0.47% this morning, led down by All Nippon Airways after the airline increased its annual loss estimate by more than double.

    Positive sentiment drove investors to seek bargains on Asian markets this morning, leaving China’s Shanghai index lower by 0.48%.

    Britain’s FTSE 100 had risen 0.86% by noon, after several positive corporate earnings reports and news of takeovers inspired investors.

    Share price news

    In the metals and minerals sector, Absolute Holdings Limited (share code: ABO) rose 10% after 13 deals to R5.50, after investors traded 40 345 shares.

    Syfrets and Commercial Union Property Fund (SYC) gained 3.54% as shares rose to R20.50 each at midday, as investors traded 136 544 shares in 25 deals.

    Shares in Simmer and Jack Mines (SIM) fell 4% to R1.20 a share, after 1 178 222 shares were exchanged in 73 deals.

    After 956 deals totaling 286 093 shares, Bidvest Group Limited (BVT) lost 2.47% as share prices fell to R137.95.

    Permalink2010-03-23, 12:29:59, by Natalie Email , Leave a comment

    Losses across the board see JSE slide

    Local markets

    On Friday at midday, losses across the board had sent the JSE All Share down 0.49%, retreating after yesterday’s rally.

    The rand was trading at R7.32 to the US dollar, with little movement leaving it almost the same as at overnight levels.

    Gold had edged up 0.07% to sell at $1121.80 an ounce at noon as investors looked to safe-haven buying on worries over indebted Greece, and sought bargains.

    International markets

    On US markets yesterday, the Dow Jones rose 0.42% while the Nasdaq inched up 0.09%, influenced by a mixed selection of economic figures.

    The Japanese Nikkei climbed 0.75% this morning as Aeon gained on the back of a positive profit forecast, and a good close on US markets sent shares rising across the board.

    The Hang Seng finished 0.19% higher, despite investor worries that China may increase liquidity controls by raising bank reserve ratios.

    Britain's FTSE 100 had gained 0.50% by noon, tracking positive US and Asian markets, as bank shares rose on news that Lloyds Banking Group would return to profitability this year.

    Share price news

    In the metals and minerals sector, Absolute Holdings Limited (share code: ABO) rose to R4 at midday, as investors traded 39 300 shares in 6 deals.

    Acucap Properties Limited (ACP) traded 55 636 shares in 6 deals, sending the share price up 3.09% to R32.99 a share.

    Losing steam was SA Corporate Real Estate Fund (SAC), whose shares fell 6.25% to R2.70 after 863 797 shares were exchanged in 68 deals.

    Shares in Liberty Holdings Limited (LBH) slid 5% to R73.15, as investors traded 177 272 shares in 253 deals.

    Permalink2010-03-19, 14:47:52, by Shaun Crous Email , Leave a comment

    JSE edges up, global markets mixed

    Local markets

    The JSE was 0.69% higher at midday, led upwards by gains in the oil and gas sector, amidst mixed closes on international markets.

    The rand was trading at R7.27 to the US dollar at 12:00, remaining within a range and keeping an eye on a weaker euro, after news that the IMF may provide Greece with debt assistance.

    Oil was 0.59% higher at $80.47 a barrel, continuing yesterday’s gains despite an early morning retreat after the dollar strengthened.

    International markets

    After news that February inflation reading was harmless, providing supporting the US Federal Reserve's promise to continue low interest rates, the Dow Jones closed 0.45% higher and the Nasdaq gained 0.47% yesterday.

    Japan's Nikkei index fell 0.95% this morning, after losses in property stocks came on the back of a brokerage downgrade.

    The Hang Seng slipped 0.25% as Hong Kong shares were dented by revived credit tightening fears for China, after regulators asked banks to slow lending.

    The FTSE 100 had given up 0.20% by noon, as losses in bank shares offset gains in pharmaceutical company GlaxoSmithKline.

    Share price news

    Woolworths Holdings Limited (share code: WHL) gained 3.01% to sell at R23.95 a share at midday, after investors traded 6 331 119 shares in 1 306 deals.

    Jubilee Platinum PLC (JBL) rose 3.25% to R4.77 a share, as 669 658 shares were exchanged in 56 deals.

    Construction firm Aveng Limited (AEG) saw the exchange of 551 139 shares in 594 deals, which sent the share price falling by 3.62% to R38.

    After 62 deals traded 176 100 shares, diversified industrial company Argent Industrial Limited (ART) fell 2.84% to R8.55 a share at noon.

    Permalink2010-03-18, 12:51:43, by Natalie Email , Leave a comment

    Gold miners lead JSE higher at midday

    Local markets

    Gains in gold mining stocks led the JSE All Share higher by 0.76% by midday, following movements on international markets as the US Federal Reserve decided to keep rates low.

    The rand was trading at R7.31 to the US dollar at noon, strengthening slightly as it followed movements on the dollar.

    Gold rose 0.51% to sell at $1130.69 an ounce at 12:00, continuing yesterday’s gains which came on the back of the US Federal Reserve’s interest rates decision.

    International markets

    Yesterday, the Dow Jones closed 0.41% higher, and the Nasdaq rose 0.67% after the US Federal Reserve decided to keep interest rates close to zero for the near future.

    In Japan, the Nikkei index finished 1.17% up this morning, reaching its highest close in eight weeks after the Bank of Japan eased policy, possibly to try keep the yen from gaining too much strength.

    Hong Kong shares also reached an eight-week high as the Hang Seng gained 1.72%, led by stronger bank and developers stocks, on news of continued low interest rates in the US.

    In Britain, the FTSE 100 had inched up 0.23% following US and Asian markets. Commodity stocks were higher as oil and metal prices strengthened.

    Share price news

    Esorfranki Limited (share code: ESR) in the construction sector was the top mover upwards at midday, gaining 7.62% to sell at R3.25 a share, after investors traded 4 325 949 shares in 44 deals.

    JD Group Limited (JDG) also enjoyed an active morning’s trading, with 1 733 008 shares exchanged in 170 deals, which sent the share price up 3% to R48 at midday.

    DRD Gold Limited (DRD) lost 4.56% as shares fell to R3.77, after 682 755 shares were traded in 148 deals.

    After 47 deals totaling 524 622 shares, Simmer and Jack Mines Limited (SIM) fell 2.27% to R1.29 a share. Simmers announced the appointment of an interim CEO this morning, after Deon van der Mescht’s resignation.

    Permalink2010-03-17, 13:04:20, by Natalie Email , Leave a comment

    Metal prices strengthen, lifting resource stocks

    Local markets

    At midday on Tuesday, the basic materials index led the JSE All Share upwards by 0.59% as stronger metals prices boosted the sector.

    The rand had stabilized by noon, and was trading at R7.39 to the US dollar, taking direction as usual from the euro.

    Oil was selling at $77.56 a barrel, recovering 0.73% after yesterday’s fall, ahead of the OPEC and central bank meetings.

    International markets

    The Dow Jones inched up 0.16%, but the Nasdaq lost 0.23% on US markets yesterday. The flat trade was attributed to gains in financial stocks that offset some concern that potential Chinese credit restrictions could limit global growth.

    Japan's Nikkei fell 0.28% this morning, as investors took profits after the index’s recent rally.

    The Shanghai index closed 0.53% higher, rebounding after reaching a five-week low, as investors bought up small-cap shares.

    Britain’s FTSE 100 had risen 0.69% by midday, as banks and commodity shares gained. However, investors remained cautious before the rate setting meeting of the US Federal Reserve.

    Share price news

    After 27 deals totaling 75 729 shares, DRD Gold Limited (share code: DRD) rose 6% to R4.24 a share at noon.

    In the farming and fishing sector, Afrocentric Investment Corporation Limited (ACT) gained 3.33% to sell at R1.55 a share, after 50 000 shares were traded in 4 deals.

    In the same sector but losing ground was Oceana Group Limited (OCE) whose shares fell 1.87% to R31, after 121 256 shares were exchanged in 21 deals.

    Digicore Holdings Limited (DGC) was again amongst the top movers downwards, as investors traded 187 600 shares in 22 deals, and sent the share price down to R3.10, a loss of 1.59%.

    Permalink2010-03-16, 13:03:10, by Natalie Email , Leave a comment

    Losses in resources lead JSE down

    Local markets

    Losses in basic materials and gold mining stocks led the JSE All Share down 0.86% by midday on Monday, in line with movements on international markets.

    A US dollar cost R7.43 at noon, remaining within a range as the local currency lacked data to give it direction.

    Gold recovered to sell at $1103.90 an ounce from last week’s low, up 0.26%. Further gains were limited as investors were concerned that European authorities might use their large gold reserves to aid debt-ridden euro zones.


    International markets


    On Friday, the Dow Jones edged up 0.12% while the Nasdaq slipped 0.03%, as mixed consumer and retail data kept shares flat.

    In Japan, the Nikkei average closed flat at 0.01% up this morning, though managed to reach its highest level in seven weeks as exporters gained on a weaker yen.

    In Hong Kong, the Hang Seng lost 0.62% to continue the bourse’s retreat into a second day, weighed on by losses in mainland shares.

    Britain's FTSE 100 had slid 0.33% by midday, as mining stocks reacted to fears of monetary tightening and overcame gains in defensive shares.

    Share price news

    Investment company Hosken Consolidated Investments Limited (share code: HCI) rose 6.43% after 30 deals totaling 52 490 shares, sending the price up to R81.95 a share at noon. This came after news of HCI’s proposed disposal of its interests in Clover Industries Limited.

    Zeder Investments Limited (ZED) gained 2.59% to sell at R1.98 a share, after 137 700 shares were exchanged in 6 deals.

    Growthpoint Properties Limited (GRT) lost 3.77% as shares slid to R14.29 each, after 2 546 728 shares were traded in 224 deals.

    In the metals and minerals sector, Merafe Resources Limited (MRF) saw the exchange of 1 676 553 shares in 49 deals, which sent the share price down 3,21% to R1.51.

    Permalink2010-03-15, 12:22:22, by Natalie Email , Leave a comment

    Profit taking sees JSE slide

    Local markets

    By noon on Tuesday, the JSE All Share had slipped 0.87% as investors took profits after the bourse’s recent rally. Losses were heaviest in the basic materials sector.

    The rand was selling at R7.42 for a US dollar at midday, following in the wake of a weaker euro as traders also took profits.

    Oil cost $79 a barrel, a slip of 0.05% after anticipation of an increase in US crude oil stockpiles and a slightly stronger dollar.

    International markets


    On US markets yesterday, the Dow Jones fell 0.13% while the Nasdaq rose 0.25%. Tech stocks climbed on gains led by Research in Motion and Cisco Systems.

    Japan's Nikkei fell 0.17% this morning on profit taking, as investors reaped the benefits of the index’s six-week high reached yesterday.

    The Hang Seng closed 0.05% up, recovering after initial losses as China Life gained on news that the company had predicted a sharp jump in profit.

    Britain's FTSE 100 had lost 0.4% by midday, as mining shares came under pressure of lower metal prices, and banks fell on caution over the sector's funding position.

    Share price news

    Amalgamated Appliance Holdings Limited (share code: AMA) gained 6.25% after investors traded 3 282 509 shares in 123 deals, sending the share price up to R1.70 at midday.

    Digicore Holdings Limited (DGC) gained 5% as shares rose to R3.15 each after 18 deals saw the exchange of 1 086 475 shares.

    After 120 deals totaling 622 265 shares, Metorex Limited (MTX) lost 6.32% to sell at R4.45 a share.

    After the company released its audited results and announced a proposed de-merger into two separate businesses, Liberty International PLC (LBT) fell 4.21% to R54.60 a share this morning, after 1 606 306 shares were traded in 1 045 deals.

    Permalink2010-03-09, 12:18:06, by Natalie Email , Leave a comment

    Gains in oil and gas stocks lift JSE

    Local markets

    At 12:10 on Monday, the JSE All Share had risen 0.69%, with shares in the oil and gas sector leading gains, though gold mining shares however had retreated.

    The rand was trading at R7.42 to the US dollar at 12:38, firming in line with a stronger euro.

    Gold was selling at $1134.79 an ounce, 0.22% higher as a stronger euro inspired investors to seek bargains away from unpredictable currencies.


    International markets


    On Friday, the Dow Jones rose 1.79% and the Nasdaq closed 1.48% higher, as unemployment statistics were better than expected and consumer spending had increased.

    Japan's Nikkei gained 2.09% this morning to reach its highest level in six weeks. Exporters rose on a weaker yen and resource shares were boosted by higher commodity prices.

    Hong Kong’s Hang Seng finished 1.97% higher as investors sought bargains, particularly selected blue chip stocks.

    The FTSE 100 had fallen 0.18% by 12:22, eroding early gains by insurance and mining stocks.

    Share price news

    At 12:14, Standard Bank Group Limited (SBK) rose 2.40% to R115.35, after 2 845 866 shares were exchanged in more than 1900 deals.

    Metals and minerals company Merafe Resources Limited (MRF) rose 2.52% to sell at R1.63 a share, after 2 665 910 shares were traded in over 160 deals.

    Anglo American PLC (AGL) fell 0.23% to R300.10, as investors traded 353 269 132 shares in over 1 000 deals.

    After 340 053 534 shares were exchanged in more than 1 200 deals, BHP Billiton PLC (BIL) lost 1.95% to sell at R249.21 at 12:15.

    Permalink2010-03-08, 12:51:08, by Natalie Email , Leave a comment

    Global markets up, JSE edges into the black

    Local markets

    On Friday at midday, the JSE All Share had edged up by 0.02%, inspired by gains on international markets, but a stronger rand took its toll on gold mining shares.

    The rand was trading at R7.46 at noon, remaining within a range and taking a lead from the euro before the publishing of US non-farm payrolls data.

    Brent crude oil rose 1.70% to sell at $78.31 a barrel, after investors hoped that China would continue its economic stimulus that would encourage growth and demand for oil.

    International markets


    Yesterday, the Dow Jones finished 0.46% up and the Nasdaq gained 0.51% as investor confidence was boosted by better-than-expected initial unemployment statistics and productivity figures.

    Japan's Nikkei index lifted 2.20% this morning, as the yen weakened after news that the Bank of Japan was considering monetary easing.

    China’s Shanghai index closed 0.25% up, overcoming losses in banking and property stocks on concern that tighter monetary policy could stall domestic economic growth.

    Britain’s FTSE 100 was 0.37% up at noon, following gains on US markets, but investors were cautious before the release of monthly US non-farm payrolls data.

    Share price news

    In the metals and minerals sector, Merafe Resources Limited (share code: MRF) climbed 3.97% to R1.57 at midday, after investors traded 4 259 415 shares in 143 deals.

    After 141 deals of 668 355 shares, construction company Group Five Limited (GRF) rose 3.60% to R36.30 a share.

    Digicore Holdings Limited (DGC) in the electronic equipment sector fell 6.25% to R3 a share, after 200 112 shares were traded in 20 deals.

    Real estate holdings firm Redefine Properties Limited (RDF) saw the exchange of 597 030 shares in 54 deals, leading to a loss of 4.65% as shares fell to R7.58.

    Permalink2010-03-05, 12:48:38, by Natalie Email , Leave a comment

    JSE falls on profit taking

    Local markets

    By midday, the JSE All Share had slipped 0.05% as investors took profits, with losses in the oil and gas sector leading the local bourse downwards.

    The rand was trading at R7.49 to the US dollar at noon, easing slightly after reaching its highest level in a month.

    Gold had inched down 0.11% to sell at $1136.75 an ounce, after investors took profits as the precious metal began to regain its safe haven appeal.

    International markets

    The Dow Jones lost 0.09% and the Nasdaq slid fractionally at their close yesterday in flat trade, as positive sentiment from improvements in the job market and services sector was offset by concern about bank regulation.

    Japan's Nikkei average fell 1.05% this morning, as exporters suffered under a stronger yen.

    China’s Shanghai index closed 2.38% while Hong Kong’s Hang Seng fell 1.44%, continuing yesterday’s losses.

    In Britain, the FTSE 100 had dipped 0.02% by midday, as investors proceeded cautiously ahead of the Bank of England’s monetary policy meeting today.

    Share price news

    Arcelormittal SA Limited (share code: ACL) in the steel sector gained 4.60% as shares rose to R94.40 at midday, after 2 144 deals totaling 3 047 198 shares.

    In the life assurance sector, Metropolitan Holdings (MET) saw the exchange of 107 090 shares in 62 deals, which lifted the share price by 3.20% to R14.50.

    Illovo Sugar Limited (ILV) fell 3.21% to R30.20 a share at noon, after investors traded 1 802 361 shares in 63 deals.

    After 29 deals of 1 927 900 shares, Sentula Mining Limited (SNU) lost 2.14% to trade at R2.74 a share.

    Permalink2010-03-04, 14:57:24, by Natalie Email , Leave a comment

    JSE, global markets flat

    Local markets

    The JSE All Share had risen 0.64% by noon on Wednesday, following movements on international markets.

    The US dollar cost R7.58 at 12:00, with the rand strengthening on positive investor sentiment and a stronger euro.

    Oil cost $77.79 a barrel, up 0.44% though still below the $80 mark as US crude stockpiles increased more than expected as imports grew.

    International markets

    The Dow Jones closed 0.02% higher and the Nasdaq rose 0.32% yesterday, after stocks gained in light of recent mergers and acquisitions, but growth was limited by sales of certain technology and bank shares.

    Japan's Nikkei average rose 0.31% this morning, overcoming losses in exporters on a slightly stronger yen.

    Hong Kong’s Hang Seng dipped 0.14%, despite bank heavyweight HSBC recovering from yesterday’s losses, and gains in Chinese renewable energy shares.

    The British FTSE 100 had inched 0.15% down by midday, after losses in energy and mining counters.

    Share price news

    Just after midday, Metorex Limited (share code: MTX) in the metals and minerals sector had risen 9.67% to R4.65 a share, after investors traded 1 745 613 shares in 232 deals.

    Retailer JD Group Limited (JDG) sold for R45 a share, a gain of 3.38% as 1 183 971 shares were exchanged in 454 deals.

    In the gaming sector, Gold Reef Resorts Limited (GDF) fell 1.81% to R19 a share, as 56 deals saw the exchange of 173 182 shares.

    Also losing ground was Simmer and Jack Mines Limited (SIM), after investors traded 979 273 shares in 60 deals that led the share price down 1.46% to R1.35.

    Permalink2010-03-03, 12:30:48, by Natalie Email , Leave a comment

    JSE tracks global markets higher

    Local markets

    At noon on Tuesday, the JSE All Share had inched up 0.35% after the release of promising economic data, and tracking international equity markets higher.

    The rand was trading at R7.62 to the US dollar at midday, falling slightly after reaching a one-week high overnight.

    Gold was selling at $1116.40 an ounce, recovering 0.22% after initial losses, as investors concern that a bailout for Greece might weaken the euro began to ease.

    International markets

    Yesterday, the Dow Jones rose 0.76% and the Nasdaq gained 1.58% after AIG's decision to sell a major Asian unit and SanDisk Corp raised its revenue forecast.

    Japan's Nikkei lifted 0.49% this morning, boosted by gains in chip-linked stocks after a positive forecast from SanDisk Corp buoyed shares of US counterparts.

    In Hong Kong, the Hang Seng closed 0.72% lower on losses in HSBC after the company reported poor earnings, which spurred selling.

    In Britain, the FTSE 100 rose 0.25% by midday, on gains in banking stocks as HSBC rallied after yesterday’s poor results.

    Share price news

    In the metals and minerals sector, Metorex Limited (share code: MTX) gained 7.24% as shares rose to R4.15 at midday, after investors traded 1 496 169 shares in 160 deals. This morning, Metorex announced positive unaudited interim results for the last period.

    After 1 445 deals totaling 1 726 368 shares, retailers Massmart Holdings Limited (MSM) rose 3.97% to R96.70 a share.

    Anglo Platinum Limited NPL (AMSN) lost 5.09% as shares fell to R187, after investors traded 35 254 shares.

    York Timber Holdings (YRK) saw the exchanged of 96 142 shares in 12 deals, which sent the share price down 5.05% to R3.01 at noon. York released an updated trading statement this morning that announced an error in the reported headline earnings per share.

    Permalink2010-03-02, 12:38:58, by Natalie Email , Leave a comment

    Positive global markets inspire gains on JSE

    Local markets

    Supported by a stronger rand and positive global markets, the industrial and basic materials sectors gained on Monday, helping to boost the JSE All Share by 1.01% at midday.

    The rand followed the euro this morning, trading at R7.65 to the US dollar at 12:00, after rumours of a debt bailout for Greece was close at hand.

    Oil gained 1.96% to sell at $77.49 a barrel, after Iran threatened to cut off energy supplies to Europe, though further gains were capped by concern that China’s energy demand was slowing.

    International markets

    On Friday, US markets lifted to achieve their best monthly gain since November, after economic growth data from the fourth quarter was better than anticipated. The Dow Jones edged up 0.04% while the Nasdaq rose 0.18%.
    Japan's Nikkei index gained 0.45% this morning, as exporters gained on news of positive GDP data for the US last quarter.
    In Hong Kong, the Hang Seng rose 2.17% led by HSBC as investors banked on the corporate publishing positive results later today.

    The FTSE 100 had risen 0.46% by noon, after mining stocks gained on support from higher copper prices.

    Share price news

    In the clothing and footwear sector, Compagnie Fin Richemont (share code: CFR) rose 3.41% to R26.42 a share, after investors traded 1 752 520 shares in 358 deals.

    After 752 deals exchanged 1 066 425 shares, the price of Aspen Pharmacare Holdings (APN) shares gained 3.03% to sell at R73.15 each at midday.

    Electronic equipment company Digicore Holdings Limited (DGC) lost 11.48% as investors traded 121 491 shares in 20 deals, sending the share price down to R2.70.

    Medi-clinic Corporation Limited (MDC) fell 5.43% to R25.25 a share, after 44 deals saw the exchange of 49 181 shares.

    Permalink2010-03-01, 13:14:51, by Natalie Email , Leave a comment