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    Losses in resource stocks weigh on JSE

    Local markets

    Friday midday saw the JSE All Share down by 0.17%, led by losses in resource shares, despite a stronger opening in line with positive US and Asian markets.

    The rand was trading at R7.31 to the US dollar, strengthening as traders sold dollars and engaged in short covering as April draws to a close.

    Brent crude oil climbed 0.87% to $85.74 a barrel at noon, as investors hoped for a bailout package for Greece that would prevent debt default.


    International markets

    On US markets yesterday, the Dow Jones closed 1.10% higher and the Nasdaq gained 1.63% after several solid corporate earnings reports. Investors were further encouraged by the proximity of Greece to a bailout deal that would limit the spread of debt default.

    Japan's Nikkei rose 1.21% this morning, as news of Greece’s possible bailout spurred buying of exporter shares.

    Germany’s DAX index was 0.31% up at noon, while France’s CAC40 had gained 0.19% after bank shares rose on expectation that an aid package for Greece will be prepared in the next week.

    Britain’s FTSE 100 was 0.10% down at midday, as negative sentiment set in despite a rally in mining, oil and bank shares earlier in the day.

    Share price news

    Paladin Capital Limited (share code: PLD) lifted 5.11% to sell at R2.47 a share after investors traded 216 504 shares in 6 deals.

    Zeder Investments Limited (ZED) rose to R2.10 a share, a gain of 2.44% after 40 deals saw the exchange of 594 005 shares.

    Fountainhead Property Trust (FPT) fell 3.08% to R6.61 a share, after 3 872 488 shares were sold in 121 deals this morning. Fountainhead published their unaudited interim results this morning.

    After 1 992 678 shares were traded in 1907 deals, BHP Billiton PLC (BIL) lost 1.84% to sell at R231.66 a share.

    Permalink2010-04-30, 12:32:13, by Natalie Email , Leave a comment

    JSE flat, lacking direction from global markets

    Local markets

    At midday on Thursday, the JSE All Share was down 0.14%, with losses across the board except in the gold mining sector, which had gained 0.76%. The local bourse lacked direction as international equity markets were mixed.

    The rand had strengthened slightly by noon, trading at R7.37 to the US dollar despite investor uncertainty surrounding Spain and Greece’s debt problems.

    Gold was selling at $1170 an ounce, up 0.43% as the precious metal became more attractive as a safe-haven asset in the midst of worry over European sovereign debt.

    International markets

    Yesterday, the Dow Jones rose 0.48% and the Nasdaq inched up 0.01% after the Federal Reserve remarked on signs of strength in the economy, easing some concern about European debt problems. First Solar Inc announced a higher-than-expected profit and lifted its 2010 forecast due to strong European demand, which spurred an increase in its share price.

    Japan's Nikkei index fell 2.57% this morning, after losses in exporters came on fears that the European zone's sovereign debt problems were spreading.

    Hong Kong’s Hang Seng closed 0.81% down as investors continued to show concern over the stability of the euro zone, after Greece and Portugal’s credit ratings were downgraded recently.

    Britain’s FTSE 100 was up 0.34% at midday, after solid earnings and a rally in banking shares came as worries about the Greek debt crisis abated somewhat, offsetting losses in energy shares.

    Share price news

    After 12 deals totaling 37 845 shares, DRDGold Limited (share code: DRD) rose to R3.90 a share at noon, a gain of 3.45%.

    In the electrical equipment sector, Delta EMD Limited (DTA) rose 2.23% to R13.75 a share, after 172 200 shares were traded in 7 deals.

    Wescoal Holdings Limited (WSL) fell 3.36% to R1.15 after investors exchanged 75 345 shares in 8 deals.

    British American Tobacco PLC (BTI) lost 2.53% as share fell to R234.90, after 1610 deals saw the sale of 2 537 490 shares.

    Permalink2010-04-29, 12:27:42, by Natalie Email , Leave a comment

    JSE follows global markets down

    Local markets

    Just after midday, the JSE All Share was 2.77% down, with losses in resources and industrial shares leading the downward slide.

    The rand was selling at R7.41 to the US dollar at noon, slightly weaker as traders ignoring a lower euro and turned their attention once more to European debt issues.

    Oil cost $83.74 a barrel, retreating 2.24% as the US dollar strengthened after the downgrade of Greece's debt rating.

    International markets

    Yesterday, the Dow Jones finished 1.9% lower, the Nasdaq dropped 2.04%, and the S&P 500 fell 2.34% after Standard & Poor's reduced Greece's debt rating to junk and downgraded Portugal's rating.

    Japan's Nikkei average gave up 2.57% this morning, after losses in exporters came after Greece and Portugal's credit ratings were downgraded, which caused fear that the Euro zone's debt issues were spreading.

    Asian equities also responded negatively to Euro market concerns. China’s Shanghai index closed 2.33% lower this morning, while Hong Kong’s Hang Seng lost 1.47%.

    Britain's FTSE 100 had fallen 1.06%, continuing yesterday’s losses as banks fell on concerns about possible spreading of European debt problems, which offset gains in oil shares.

    Share price news

    Cipla Medpro SA Limited (share code: CMP) rose 0.7% to R5.75 a share, after 30 deals saw the exchange of 296 937 shares.

    Anglogold Ashanti Limited (ANG) gained 0.41% after investors traded 447 420 shares in 1 272 deals, sending the share price up to R298.09.

    Losing ground was Anglo American PLC (AGL), whose shares fell 4.45% to R317.70 after 3 834 018 shares were traded in 3 327 deals.

    After 800 deals totaling 1 435 071 shares, Investec PLC (INP) tumbled 4.42% to R58.60 a share.

    Permalink2010-04-28, 12:33:30, by Natalie Email , Leave a comment

    Positive global markets boost JSE

    Local markets

    At midday on Monday, the financials index had gained 1.94%, helping to boost the JSE All Share by 1.01%. Positive closes on US and Asian markets also improved investor sentiment.

    A US dollar cost R7.37 at noon, as the rand strengthened in line with a stronger euro and positive movements in equity markets.

    Oil cost $85.99 a barrel, rising 1.16% to reach a new high for the last 18 months, after solid US manufacturing and home sales data reinforced signs of economic recovery.

    International markets

    On Friday, the Dow Jones rose 0.63% and the Nasdaq closed 0.44% higher, after Merck remarked that the cost of healthcare reform will be relatively low, and energy stocks rose on higher crude prices.
    Japan's Nikkei gained 2.30% this morning after investors Greece fears abated and copier and printer firms rose on the back of strong results from US counterparts.

    Hong Kong’s Hang Seng index rose 1.61% as investors sought after certain blue-chip shares.

    The British FTSE 100 was 0.73% higher at noon, following movements on international markets, and lifted by gains in banks and commodity shares as risk appetite increased.

    Share price news

    Firstrand Limited (share code: FSR) rose 3.20% to R20.64 a share at noon, after investors traded 42 756 542 shares in 1 200 deals.

    Standard Bank Group Limited (SBK) followed suit, with shares rising 2.92% to sell at R114.50 a share. Share volume equaled 1 621 713 shares, while total deals counted 1 197.

    Losing 4.76% after 54 deals totaling 586 601 shares, Gijima AST Group Limited (GIJ) fell to R1 a share at midday.

    Wescoal Holdings Limited (WSL) fell 2.54% to R1.15 a share, as 44 012 shares were exchanged in 6 deals.

    Permalink2010-04-26, 12:34:44, by Natalie Email , Leave a comment

    Gains in industrial shares lead JSE upwards

    Local markets

    The JSE All Share had risen 0.37% just before midday, with industrials as the biggest gainers, followed by gold miners. Oil and gas shares and financials had edged into the red.

    The rand was trading at R7.47 to the US dollar at noon on Friday, slightly weaker against its American counterpart.

    Oil was selling at $85.07 a barrel, up 1.27% after news that Greece will be asking for more financial aid inspired positive closes on equity markets and a rebound in the euro-dollar exchange rate.

    International markets

    On US markets, the Dow Jones rose 0.08% yesterday while the Nasdaq closed 0.58% higher, after solid quarterly profit results from consumer bellwethers offset Greek debt concerns.

    In Japan this morning, the Nikkei closed 0.32% lower as Greece’s troubles lessened risk appetite. Next week is expected to bring more positive corporate results, which saw some shares gaining.

    Elsewhere in Asia, China’s Shanghai index finished 0.53% down, while Hong Kong’s Hang Seng lost 0.98%.

    Britain’s FTSE 100 had risen 1.01% by midday, recovering after a recent slump as banks and mining shares gained ground in anticipation of UK GDP data.

    Share price news

    After 772 deals totaling 3 012 917 shares, Compagnie Fin Richemont (share code: CFR) rose 2.30% to R28.43 a share at midday.

    In the metals and minerals sector, Metorex Limited (MTX) gained 2.37% after 1 157 315 shares were traded in 129 deals, lifting the share price to R4.32.

    Media agency Avusa (AVU) fell to R20 a share at noon, a loss of 2.34% after investors exchanged 33 010 shares in 7 deals.

    Telkom SA Limited (TKG) fell 2.29% to R37.07, after 300 211 shares were traded in 296 deals.

    Permalink2010-04-23, 12:30:48, by Natalie Email , Leave a comment

    JSE flat in mixed trade

    Local markets

    The JSE All Share had lost 0.04% by noon on Thursday, with slight losses across the board except for the oil and gas index which had risen 0.72% and gold mining which had gained 0.61%.

    The rand was trading at R7.46 to the US dollar, stabilizing somewhat after a decline in line with the euro, as metals prices rose.

    Oil was selling at $84.42 a barrel, up 0.5% by midday, recovering slightly after higher US stockpiles suggested weak demand.

    International markets

    The Dow Jones closed 0.07% up and the Nasdaq rose 0.17% yesterday, as poor outlooks from healthcare companies almost overcame strong earnings from Morgan Stanley and Apple.

    Japan's Nikkei lost 1.27% this morning, as a weaker futures market and the break of an important technical level inspired a sell-off after yesterday’s gains.

    The German Dax was down 0.8% just after midday, while the French CAC40 had lost 1.04%. European investors were cautious due to continuing worries about Greece's debt crisis.

    Britain’s FTSE 100 was 0.61% down, despite higher metals prices which boosted mining shares, and positive broker sentiment that lifted banks such as HSBC.

    Share price news

    At midday, shares in Gold Fields Limited (share code: GFI) rose 1.84% to R96.24 after 796 031 shares were traded in 1 388 deals.

    Blue Label Telecoms Limited (BLU) gained 1.64% to sell at R4.96 a share, after investors exchanged 2 834 019 shares in 27 deals.

    In the construction sector, Murray and Roberts Holdings Limited (MUR) fell 2.30% to R42.99, after 365 deals traded 1 107 734 shares.

    After investors exchanged 930 007 shares in 494 deals, Aveng Limited (AEG) slid to R37.05 a share, a loss of 2.24%.

    Permalink2010-04-22, 12:29:11, by Natalie Email , Leave a comment

    Mixed trade leaves JSE lower at midday

    Local markets

    The morning saw mixed trade on the JSE, with the All Share 0.37% down at midday. Basic materials and gold mining shares lost, while oil and gas shares and industrial shares gained ground.

    The rand was exchanging at R7.35 per US dollar, strengthening slightly despite a weaker euro-dollar exchange rate.

    Gold cost $1145.15 an ounce at noon, adding 0.54% to recent gains as solid corporate results illustrated demand for the precious metal.

    International markets

    Yesterday on US markets, the Dow Jones edged up 0.23% while the Nasdaq closed 0.81% higher, and the S&P 500 matched the Nasdaq with a 0.83% gain.

    Japan's Nikkei rose 1.74% this morning, after chip-related shares such as
    Toshiba Corp rose after news of solid results from Apple which sent its shares to a lifetime high.

    Hong Kong’s Hang Seng lost 0.52% despite expectations of gains after strong earnings from companies such as Apple improved sentiment.

    Britain's FTSE 100 fell 0.47% just after midday, as losses in mining shares offset gains in from food retailers, which came after positive broker remarks.

    Share price news

    After 8 deals totaling 226 398 shares, Silverbridge Holdings Limited (share code: SVB) rose to R1.95 a share at midday, a gain of 14.71%.

    Computer services company Paracon Holdings Limited (PCN) gained 2.41% to sell at R1.70 a share, after investors traded 1 387 198 shares in 23 deals.

    BHP Billiton (BIL) fell 2.11% to R242.99 after 998 102 shares were exchanged in 983 deals. Billiton released a positive production report and exploration and development report this morning.

    Northam Platinum Limited (NHM) saw the trade of 196 632 shares in 305 deals this morning, which send the share price sliding 1.37% to R53.26.

    Permalink2010-04-21, 12:41:24, by Natalie Email , Leave a comment

    Oil rises as European planes return to the skies

    Local markets

    The JSE All Share was 0.9% up at midday, led by gains in the basic materials sector as precious metals prices rose, and inspired by positive results from Citigroup.

    The rand was trading at R7.40, remaining within a range as it looked to the euro for further direction.

    Oil cost $84.06 a barrel, up 1.28% as the demand for jet fuel increased after planes were given the go ahead to fly over parts of Europe previously affected by volcanic ash.

    International markets

    The Dow Jones closed 0.67% up but the Nasdaq slipped 0.05% yesterday, as US investors awaited Citigroup results and remained cautious after last week’s fraud charges for Goldman Sachs.

    Japan's Nikkei lost 0.07% this morning, continuing to retreat slightly after suffering its biggest percentage loss in two months yesterday. Analysts suspect it may pull back further in upcoming sessions.
    The Shanghai index ended 0.03% lower, as Chinese property shares continued to fall after news of tightening credit for the sector.
    The FTSE 100 had risen 0.29% by midday, recovering after sharp falls as bank shares gained and mining and oil stocks lifted in line with commodity prices.

    Share price news

    After 305 deals in which 690 984 shares were traded, Metropolitan Holdings (share code: MET) rose 4.28% to R16.80 a share.

    SAB Miller PLC ( SAB ) rose to R224.50 a share, a gain of 3.46% by midday after 807 200 shares were exchanged in 1 014 deals.

    In the non-ferrous metals sector, Metmar Limited (MML) fell 4.71% to R4.05, after investors sold 124 175 shares in 11 deals.

    Petmin Limited (PET) in the metals and minerals sector saw 9 deals trade 65 668 shares, which sent the share price down 3.74% to R2.83.

    Permalink2010-04-20, 12:38:59, by Shaun Crous Email , Leave a comment

    Goldman Sachs’ fraud charges spook global commodities

    Local markets

    By midday on Monday, the JSE All Share had given up 1.46% after losses in basic materials and oil and gas shares. Gold mining managed to buck the downward trend, gaining 0.73%.

    A US dollar cost R7.46 at 12:00, as the local currency lost ground after investors retreated from higher risk positions.

    Gold was selling at $1127.34 an ounce, remaining steady despite continuing losses in other commodities, after Goldman Sachs was charged with fraud at the end of last week.

    International markets

    On US markets on Friday, the Dow Jones fell 1.13% and the Nasdaq lost 1.37%. Financial shares sank after fraud charges against Goldman Sachs and disappointing corporate results spurred selling.

    Japan's Nikkei slid 1.74% this morning to reach its lowest close in three weeks on profit taking, after the Goldman Sachs scandal raised concerns that the US would tighten banking regulation.

    China's Shanghai index tumbled 4.79%, as losses in property shares came after news that China ordered local governments to better control speculative buying.

    In Britain, the FTSE 100 dropped x% by noon, after losses in banks came as investors reacted to fraud charges against Goldman Sachs, and British Airways slipped due to the grounding of flights for fear of volcanic ash.

    Share price news

    In the gold mining sector, Anglogold Ashanti Limited (share code: ANG) climbed 1.03% to R289.96 at midday, as investors traded 409 742 shares in 839 deals.

    Gold Fields Limited (GFI) also rose 0.74% to sell at R94.30, as 549 deals saw the exchange of 300 586 shares.

    Falling 4.81% to R23.94 a share was Sanlam Limited (SLM) in the life assurance sector, after 1 514 231 shares were sold in 759 deals.

    After 1 655 deals traded 1 038 330 shares, Standard Bank Group Limited (SBK) fell to R111 a share, a loss of 3.69%.

    Permalink2010-04-19, 12:24:28, by Natalie Email , Leave a comment

    Profit taking continues to weaken JSE

    Local markets

    At noon on Friday, the JSE All Share had slipped 0.49%, led down by oil and gas shares and as investors took profits.

    The rand was trading at R7.34 to the US dollar at 12:00, weaker in line with concern over Greece’s debt problems which were affecting the euro’s movements.

    Oil was selling at $86.24 a barrel, falling 0.28% under pressure from a firmer dollar and lower equity markets.

    International markets

    On US markets yesterday, the Dow Jones closed 0.19% higher, while the Nasdaq finished up 0.43%. A positive profit forecast from United Parcel Service gave a boost to transport shares, though gains were limited by an increase in weekly jobless claims.

    Japan's Nikkei average fell 1.52% this morning, after flat US markets and Google’s results did not offer much inspiration, leading to losses in exporter stocks.

    Hong Kong’s Hang Seng slipped 1.32% to reach a two-week low, after developer shares lost ground as China took further steps to cool property prices.

    Britain's FTSE 100 had lost 0.02% by noon, as commodity shares fell on demand concerns following data from the U.S. and China, in addition to worries over Greece.

    Share price news

    In the construction sector, ELB Group Limited (share code: ELR) gained 4.76% to sell at R11 a share, after investors traded 2 419 816 shares in 30 deals.

    Simmer and Jack Mines (SIM) rose 1.64% after 725 237 shares were exchanged in 58 deals, sending the share price up to R1.24.

    For the second consecutive session, Gijima AST Group Limited (GIJ) in the computer services sector lost 6.42% to sell at R1.02, after 158 deals saw the trade 4 558 291 shares.

    After 1482 deals totaling 2 041 439 shares, MTN Group Limited (MTN) fell 1.71% to trade at R111.81 a share at midday.

    Permalink2010-04-16, 12:17:11, by Natalie Email , Leave a comment

    JSE slides on profit taking

    Local markets

    The JSE All Share had slipped 0.46% by 12:00 on Thursday, after investors took profits after the recent rally. Leading the downward movement was the basic materials sector.

    The rand was selling at R7.36 for a US dollar at noon, falling from yesterday’s levels despite a strengthening euro.

    Oil cost $85.93 a barrel, rising 1.09% towards its highest level in a year and a half, after strong growth from China affirmed hopes for continued economic recovery.

    International markets

    Yesterday, the Dow Jones rose 0.94% and the Nasdaq gained 1.58%, boosted by the release of solid corporate earnings and March retail sales.

    Japan's Nikkei index lifted 0.61% to reach its highest close in a week, after strong GDP growth from China inspired gains in shipping stocks, and US equity market closes improved general sentiment.

    Hong Kong’s Hang Seng finished 0.16% higher following positive movements on US markets and gains in oil stocks supported by rising oil prices.

    Britain's FTSE 100 had lost 0.24% by midday SA time, retreating after yesterday’s gains when strengthening banking and oil shares were offset by losses in mining stocks.

    Share price news

    Gaining ground was Coronation Fund Managers Limited (share code: CML), whose shares rose 3.02% to R10.25, after 288 deals traded 2 422 744 shares. Coronation announced this morning that earnings per share were expected to increase by 150%.

    Steinhoff International Holdings Limited (SHF) saw 2 750 179 shares exchanged in 539 deals, which sent the share price up 1.68% to sell at R21.15 at midday.

    In the computer services sector, Gijima AST Group Limited (GIJ) fell 10.57% to R1.10 a share, as investors traded 5 436 647 shares in 118 deals. Gijima today announced the possibility of litigation in a contract dispute with the Department of Home Affairs.

    After 1643 deals totaling 1 456 025 shares, Anglo American PLC (AGL) dipped 1.47% to sell at R335 a share at noon.

    Permalink2010-04-15, 12:10:30, by Natalie Email , Leave a comment

    JSE rises after recovery in gold and resource stocks

    Local markets

    By midday on Wednesday, the JSE All Share had risen 1.08%, lifted by a recovery in gold mining, basic materials and oil and gas stocks.

    The rand was exchanging at R7.26 to the US dollar at noon, strengthening slightly from overnight trade.

    Gold climbed 0.76% to $1159.75 as investors sought bargains, and sentiment rose on hopes for solid GDP data from China, which would increase the appeal of commodities.

    International markets

    On US markets yesterday, the Dow Jones closed higher by 0.12%, while the Nasdaq rose 0.33%, as investors anticipated positive earnings from major banks and technology.
    In Japan, the Nikkei finished 0.39% higher this morning, as exporter stocks rose on news of strong results sales and margin for Intel.

    In Hong Kong, the Hang Seng edged up 0.08% as gains in Lenovo Group inspired by Intel’s results marginally overcame profit-taking in airline shares.

    In Britain, the FTSE 100 had risen 0.53% after Intel’s results buoyed sentiment and helped to boost commodity stocks.

    Share price news

    Esorfranki Limited (share code: ESR) rose 4.35% to R3.60, after 32 deals saw the exchange of 513 651 shares by noon.

    After 110 deals of 2 482 964 shares, Merafe Resources Limited (MRF) climbed 3.89% to R1.87.

    Comair Limited (COM) fell to R2.52 a share at midday, losing 6.32% as 64 300 shares were traded in 8 deals.

    Electrical equipment company Reunert Limited (RLO) slid 1.10% to R58.35, after investors exchanged 180 236 shares in 160 deals.

    Permalink2010-04-14, 12:15:26, by Natalie Email , Leave a comment

    Losses in gold mining weigh on JSE

    Local markets

    At midday on Tuesday, the JSE All Share had fallen 0.46%, led by losses in the gold mining sector and following weaker Asian markets.

    The rand was trading at R7.27 to the US dollar at noon, tracking a weaker euro after investors queried details of the bailout package for Greece.

    Oil dipped 0.02% to $83.98 a barrel, after a projected increase in US oil stockpiles raised concern about weak growth in demand.

    International markets

    On US markets yesterday, the Dow Jones finished 0.08% higher and the Nasdaq gained 0.16% after investors bet on positive earnings for the first quarter, lifting financial, energy and industrial stocks.

    Japan's Nikkei index tumbled 0.81% this morning, as a stronger yen spurred investors to take profits.

    The Hang Seng slid 0.16% to continue yesterday’s losses, after shares such as Air China fell after Chinese President Hu Jintao remarked that yuan appreciation will not take place in the near future.

    Britain's FTSE 100 had fallen 0.35% by midday, as losses in mining shares were driven by falling metal prices, and bank shares slid before the release of US first-quarter results.

    Share price news

    In the clothing and footwear sector, Compagnie Fin Richemont (share code: CFR) rose 0.17% to R28.75 a share, as investors traded 5 496 844 shares in 671 deals by midday.

    Retailer Clicks Group Limited (CLS) climbed 2.42% after 424 deals to R31.30 a share, as 23 774 571 shares were exchanged during this morning’s trade.

    Steinhoff International Holdings Limited (SHF), in the furnishings and floor coverings sector, gained 0.24% after 523 deals saw the exchange of 5 674 300 shares, sending the share price to R20.60.

    After investors exchanged 1 803 659 shares in 161 deals, Metorex Limited (MTX) fell 3.92% to sell at R4.41 a share.

    Permalink2010-04-13, 12:17:09, by Natalie Email , Leave a comment

    JSE down 0.27% after a positive start

    Local markets

    On Monday at 1pm, the JSE All Share was down 0.27%, despite a stronger start this morning in line with higher metals prices and international markets.

    The rand was trading at R7.23 to the US dollar, strengthening in line with the euro after news of the euro-zone’s support package for Greece.

    Gold was selling at $1164.97, up 0.11% to its highest price in four months, after the euro strengthened and investment demand increased.

    International markets

    The Dow Jones rose 0.64% and the Nasdaq lifted 0.71% on Friday, after Chevron's positive outlook and inventories data supported hopes for a reviving economy.

    Japan's Nikkei finished 0.42% higher this morning after positive US market closes last week, and ad agency Dentsu rose on news of better revenue guidance.

    The Hang Seng fell 0.32%, with property stocks sliding after China's banking regulator demanded banks take greater caution in lending to land developers.

    Britain's FTSE 100 was 0.04% up at 1.20pm today, flat as investors mulled over the enormous bailout package for Greece.

    Share price news

    Construction company Esorfranki rose 1.98% to R3.61 at 1.16pm, after 77 deals saw the exchange of 2 937 955 shares.

    In the gold mining sector, Simmer and Jack Mines Limited climbed 0.83% to sell at R1.21 a share, after 2 793 005 shares were exchanged in 79 deals.

    Firstrand Limited fell to R19.80 a share, a loss of 0.75% after 966 deals traded 3 108 274 shares just after 1pm.

    Standard Bank Group Limited fell 1.26% to R115.53, as investors traded 1 681 509 shares in 2 196 deals.

    Permalink2010-04-12, 13:40:11, by Natalie Email , Leave a comment

    JSE inches up before the weekend, in line with global markets

    Local markets

    The JSE All Share was up 0.52% by midday on Friday, following positive closes on US and Asian markets. Shares in the basic materials sector led gains, though some of those in the oil and gas sector experienced losses.

    The rand was trading at R7.22 to the US dollar at 12:00, strengthening fractionally but staying within a range.

    Gold was selling at $1157.10 an ounce, reaching its highest price in nearly three months, though trade was thin. Safe-haven buying was spurred on by fickle currencies and fiscal problems in Greece.

    International markets

    Yesterday, the Dow Jones rose 0.27% and the Nasdaq finished 0.23% higher, boosted by better-than-expected retail sales for March, which improved investor sentiment.
    Japan's Nikkei average climbed 0.32% this morning at its close, as retailers gained in line with US counterparts and offset losses from investors taking profits after the index’s recent rally.

    Hong Kong’s Hang Seng closed 1.56% higher, after the release of solid corporate earnings.

    In Britain, the FTSE 100 had risen 0.72% by noon, with gains in banking and commodity shares leading the index upwards. Investor hopes for economic recovery were given a lift by strong retail sales in the US.

    Share price news

    Gaining 2.92% to sell at R4.23 a share at midday, Metorex Limited (share code: MTX) was boosted by 118 deals in which investors traded 837 386 shares.

    Also in the metals and minerals sector, 687 577 shares of Merafe Resources Limited (MRF) were exchanged in 117 deals, sending the share price up 1.68% to R1.82.

    SA Corporate Real Estate Fund (SAC) fell 1.67% to R2.95 after investors traded 230 302 shares in 30 deals.

    After 1 875 deals totaling 1 307 455 shares, Sasol Limited (SOL) lost 1.08% as the share price dropped to R312.10.

    Permalink2010-04-09, 12:19:03, by Natalie Email , Leave a comment

    Profit taking steers JSE into the red

    Local markets

    The JSE All Share had lost 1.07% by noon on Thursday, led down by weaker basic materials and industrial stocks as investors took profits, and were affected by negative global sentiment.

    The rand was slightly weaker at midday, trading at R7.32 to the US dollar and tracking movements of the euro as Greece’s debt problems continue to cause concern.

    Oil was selling at $84.66 a barrel, down 0.40% as a stronger dollar weighed on the commodity, and crude oil inventories in the US rose to their highest level in almost 10 months.

    International markets

    The Dow Jones finished 0.66% lower and the Nasdaq dipped 0.23% yesterday, after the Federal Reserve remarked that the lower interest rates were giving investors an excuse to take profits, and should not be kept low for much longer.

    Japan's Nikkei index closed 1.10% down this morning, after investors took profits in exporter shares, and machinery makers fell after an unexpected decrease in the number of machinery orders.

    Hong Kong’s Hang Seng slid 0.28% as investors worried over potential interest rate increases in the US, and took profits in property stocks after recent gains.

    Britain's FTSE 100 had fallen % by 12:00, as commodity stocks were weakened by lower materials prices, and investors renewed their concern about Greece’s debt issues.

    Share price news

    Sentula Mining Limited (share code: SNU) climbed 2.67% to R3.08 a share at midday, after 555 256 shares were exchanged in 31 deals.

    In the same sector, Mvelaphanda Resources Limited (MVL) saw the exchange of 387 820 shares in 328 deals, sending the share price up 2.09% to R48.85.

    Falling 4.38% to R22.28 at noon was retailer Woolworths Holdings Limited (WHL), as investors traded 2 626 249 shares in 1 242 deals.

    In the banking sector, Firstrand Limited (FSR) fell 3.86% to R19.70 a share, after 1 529 deals in which investors traded 91 555 290 shares.

    Permalink2010-04-08, 12:12:11, by Natalie Email , Leave a comment

    JSE follows international markets higher

    Local markets

    On Tuesday after the Easter weekend, the JSE followed global markets and was up 0.8% at 12:00, with gold mining and oil and gas shares leading gains.

    The rand was trading at R7.27 to the US dollar at midday, as the euro softened as investors renewed their concern over Greece's debt problems.

    Despite falling earlier after the dollar firmed, oil rose 2.43% to sell at $85.02 a barrel at noon.

    International markets

    Yesterday, the Dow Jones closed 0.43% higher while the Nasdaq rose 1.12% after the Easter weekend, as data indicated that the economy is recovering and corporate profits could improve.

    Japan's Nikkei index fell 0.5% this morning after a stronger yen damaged exporter stocks, and offset gains in resources stocks, which came after rising oil and metals prices.
    The Hang Seng was closed today for a public holiday.

    In Britain, the FTSE 100 had risen 0.52% by noon, lifted by gains in mining and energy shares after US data showed stronger economic recovery.

    Share price news

    After 2 167 021 shares were exchanged in 132 deals, Merafe Resources Limited (share code: MRF) in the metals and minerals sector gained 5.06% to sell at R1.87 a share.

    In the same sector, Metorex Limited (MTX) rose 3.77% to R4.13 a share, as investors traded 2 427 089 shares in 195 deals.

    Losing ground was Gold One International Limited (GDO) whose shares lost 4.15% after investors traded 342 539 shares in 25 deals, which sent the share price down to R1.85. This morning the company announced an update on the wage negotiations with striking workers.

    SA Corporate Real Estate Fund (SAC) fell 1.41% to R2.80 a share at midday, after 277 801 shares were exchanged in 20 deals.

    Permalink2010-04-06, 12:08:32, by Natalie Email , Leave a comment

    Sluggish gains on JSE before Easter weekend

    Local markets

    On Thursday at noon, the JSE All share was up fractionally by 0.32% after a flat morning’s trade, with fewer gains than expected after China’s promise to maintain more relaxed monetary policy.

    The rand was trading at R7.25 to the US dollar at 12:00, stronger before the Easter weekend, and likely to remain within a range for the rest of the session.

    Gold was selling at $1115.80 an ounce, up 0.07% after investors sought bargains before the holiday break.

    International markets

    The Dow Jones fell 0.47% and the Nasdaq lost 0.53% yesterday, after a reported drop in private-sector employment raised concern about the labour market ahead of key US government jobs data.

    Japan's Nikkei index rose 1.39% this morning, after resource shares gained on the back of higher commodity prices, and exporters were given a boost by a weaker yen.

    Investors bought up consumer-related shares on the Hang Seng, sending it up 1.40% at its close to reach its highest level in more than eight weeks. Sentiment was positive after news that China would keep a more relaxed monetary policy.

    Britain's FTSE 100 had lifted 0.88% by noon, thanks to gains in mining and energy stocks after higher commodity prices.

    Share price news

    Freeworld Coatings Limited (share code: FWD), a speciality chemicals company, rose 6.40% to R9.81 a share at midday. Investors traded 800 818 shares in 96 deals, after Freeworld withdrew a cautionary announcement this morning.

    In the metals and minerals sector, Merafe Resources (MRF) gained 4.88% to sell at R1.72 a share, after 5 380 205 shares were traded in 189 deals. Merafe announced a 35% increase in ferrochrome price for the second quarter.

    News of the merger between Metropolitan and Momentum yesterday left Metropolitan Holdings (MET) shares down 5.81% to R15.90 by midday. A staggering 13 868 333 shares were exchanged in 227 deals.

    Also losing ground was Simmer and Jack Mines Limited (SIM) whose shares fell 5.51% to R1.20, after 30 deals saw the exchange of 296 684 shares.

    Permalink2010-04-01, 12:28:12, by Natalie Email , Leave a comment