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    JSE edges lower at midday

    Local markets

    The JSE was 0.06% lower at noon on the last Monday of May, overcoming earlier gains in oil and gas shares, which rose on higher commodity prices.

    The rand had stabilized at around R7.67 to the US dollar at 12:00, with not much more action expected due to the closure of UK and US markets for public holidays.

    Gold was selling higher by 0.48% at $1 212.85 an ounce, as concern over Europe's debt problems increased on news of Spain's credit rating downgrade, sending investors to seek safe haven assets.

    International markets

    On Friday, the Dow Jones closed 1.19% lower, and the Nasdaq lost 0.91%, ending their worst month in more than a year, after a downgrade of Spain's credit rating revived concern about euro-zone debt problems.

    Japan’s Nikkei edged up 0.06% this morning, as losses were offset by gains in exporter shares, which were supported by a falling yen-dollar exchange rate.

    Hong Kong’s Hang Seng dipped 0.01%, to publish its biggest monthly loss since January. Losses were led by property stocks as a government move to tighten up on real estate speculation worried investors.

    Britain’s FTSE 100 was closed today for a public holiday.

    Share price news

    In the computer hardware sector, Pinnacle Technology Holdings Limited (share code: PNC) rose 2.66% to R4.25 a share at midday, after 129 490 shares were traded in 11 deals.

    Compagnie Fin Richemont (CFR) in the clothing and footwear sector gained 1.24% to trade at R25.35 a share, after investors exchanged 1 589 224 shares in 258 deals.

    Losing 5.98% to sell at R1.10 a share was Rolfes Technology Holdings (RLF), after investors traded 24 010 shares in 1 deal.

    Raubex Group Limited (RBX) in the construction sector fell 2.50% to R21.05 a share, after 25 deals traded 48 141 shares by midday.

    Permalink2010-05-31, 12:22:58, by Natalie Email , Leave a comment

    JSE down after rand strength weighs on gold miners

    Local markets

    Just before 2.30pm on Friday, the JSE All Share had lost 0.22% as a stronger rand weighed on gold mining shares.

    The rand was trading at R7.60, stabilizing into a range against the dollar as the euro consolidated recent moves.

    Oil had risen 2.47% to $74.80 at noon, after global stock markets rallied and news that analysts expect increasing demand for oil in the US.

    International markets

    Yesterday the Dow Jones rose 2.85% and the Nasdaq gained 3.73% after strong earnings were announced, which saw investors shrug off disappointing economic data.

    In Japan, the Nikkei average climbed 1.28% as exporter shares rose on a weakening yen, but further gains were limited by profit taking.

    The Hang Seng lifted 1.73% in line with US markets, boosting financial and exporter stocks, while energy shares gained on higher crude prices.

    Britain's FTSE 100 was 0.73% higher, though gains in retailers were somewhat offset by losses in oil major BP, whose oil leak in the Gulf of Mexico is costing almost $1 billion.

    Share price news

    Once again in the news, Simmer and Jack Mines (SIM) had gained 3.33% to sell at R1.24 a share, after 172 deals saw the trade of 22 729 770 shares.

    Old Mutual PLC (OML) rose 0.79% to R12.73, after 3 107 174 shares were exchanged in 583 deals.

    Losing 1.33%, Compagnie Fin Richemont (CFR) fell to R25.31 after 1 434 deals totaling 8 898 969 shares.

    Firstrand Limited (FSR) fell 0.61% to R19.58, after investors exchanged 5 718 646 shares in 1 568 deals.

    Permalink2010-05-28, 15:46:59, by Natalie Email , Leave a comment

    Rising metal prices boost commodity shares, JSE gains

    Local markets

    At midday on Thursday, the JSE All Share had risen 0.97% after strong gains in the basic materials sector on higher metal prices, which served to offset losses in gold mining shares.

    The rand was selling at R7.64 per US dollar at noon, initially following the euro which gained against the dollar.

    Brent crude oil cost $72.30 a barrel at 12:00, up 3.29% in line gains on Asian and European markets, and supported by yesterday’s official oil data from the US which indicated an increase in fuel demand.

    International markets

    US markets fell yesterday, with the Dow Jones closing 0.69% lower and the Nasdaq losing 0.68%. Investors became cautious near the end of the session as reports suggested China was re-evaluating its euro-zone debt holdings.

    Japan’s Nikkei rose 1.23% this morning, recovering after the average hit a six-month low as exporters were hurt by a stronger yen and falls on Wall Street.

    Hong Kong’s Hang Seng finished 1.22% higher on bargain hunting as investors bought up battered technology and bank shares.

    The FTSE 100 was 1.63% up at midday, after gains in commodity and bank shares lifted the British bourse, and investors momentarily forgot their euro zone debt worries.

    Share price news

    Gaining for a second consecutive day, Northam Platinum Limited (NHM) rose to R46.95 a share, up 6.10% as 299 035 shares were traded in 368 deals by noon.

    BHP Billiton PLC (BIL) climbed 3.57% to R215.25, after 2 167 167 shares were exchanged in 1 510 deals.

    After 48 deals that exchanged 535 252 shares, Simmer and Jack Mines Limited (SIM) fell 4% to R1.20 a share.

    MTN Group Limited (MTN) lost 2.50% as investors traded 3 420 292 shares in 2 135 deals, sending the share price sliding to R107.25.

    Permalink2010-05-27, 12:28:40, by Natalie Email , Leave a comment

    JSE tracks Asian markets higher

    Local markets

    At midday on Wednesday, the JSE All Share had risen 1.99%, with gains across the board, led by basic materials shares.

    The local bourse followed positive closes on Asian markets.

    The rand was trading lower at R7.82 to the US dollar, following a weakening euro amid rising global risk aversion.

    Gold climbed 0.87% to sell at $1 212.48 an ounce at noon, as investors continued to seek safe havens from growing European debt concerns and increasing conflict on the Korean peninsula.

    International markets

    US markets fell yesterday, with the Dow Jones sliding 0.23% and the Nasdaq losing 0.12%.

    The effect of euro zone debt worries was limited by some bargain hunting as investors saw stocks drop to six-month lows.

    The Nikkei closed 0.66% higher this morning, as Japanese exporter stocks rose on bargain hunting, after the index fell to a six-month closing low on Tuesday.

    Hong Kong shares gained 1.11%, despite predictions that investors would sell off riskier assets on concern over Europe’s financial system.

    Britain's FTSE 100 had risen 1.68% by midday, rebounding on bargain hunting by investors, which saw gains in beaten-down banks and mining shares.

    Share price news

    Engineering firm Invicta Holdings Limited (IVT) rose 4.73% to R28.80 a share at noon, with traders exchanging 182 869 shares in 24 deals.

    Gaining 4.82% was Northam Platinum Limited (NHM), whose shares climbed to R45.20 each after 550 deals traded 580 200 shares.

    In the insurance brokers sector, Glenrand MIB Limited (GMB) fell 6.36% to R1.03 a share, after 3 deals saw the exchange of 145 625 shares by noon.

    After 39 deals of 520 101 shares, Allied Electronics Corporation Limited (ATN) dropped 0.59% to trade at R25.25 a share.

    Permalink2010-05-26, 12:59:12, by Natalie Email , Leave a comment

    Renewed euro zone jitters see global markets slide

    Local markets

    Just after midday, the JSE All Share had fallen 3.05%, with losses in the industrial sector leading the local bourse downwards.

    The rand was selling at R7.98, losing ground against the US dollar as traders opted to remain cautious in light of unsolved debt problems in the euro zone.

    Gold cost $1 186.78 an ounce, losing 0.4% around midday, while platinum fell 2.84% to sell at $1480.70, as the precious metals retreated on revived European debt concerns.

    International markets

    Yesterday on US markets, the Dow Jones lost 1.24% while the Nasdaq slipped 0.69% as European banks looked worse for wear, weighing on sentiment.

    The Japanese Nikkei index tumbled 3.06% to hit a five-month closing low, on worries that Europe's debt problems now extended to include the health of some banks.

    Hong Kong’s Hang Seng dropped 3.47% as investors sold off risky assets on fears for the health of the European financial system.

    Britain's FTSE 100 had lost 2.79% by noon SA time, with losses in commodity and bank shares on increasing concern over the fiscal state of the euro zone.

    Share price news

    At 12:20, ABE Construction Chemicals Limited (ABE) was selling at R1.85 a share, up 12.12% after investors traded 2 020 000 shares in 79 deals.

    Wesizwe Platnum Limited (WEZ) rose 2.73% to R2.26, after 94 deals exchanged 880 250 shares.

    After 1 074 deals of 8 487 149 shares, Compagnie Fin Richemont (CFR) fell 5.89% to R24.46.

    Standard Bank Group Limited (SBK) lost 4.06% after 1 288 deals traded 1 430 916 shares, sending the share price down to R104.80.

    Permalink2010-05-25, 12:44:30, by Natalie Email , Leave a comment

    JSE rises, tracking gains on global markets

    Local markets

    Just before midday on Monday, the JSE All Share had risen 1.13%, led by gains in industrial and financial stocks, and following movements on global markets.

    The rand strengthened slightly against the US dollar, trading at R7.85 as a result of growing risk appetite.

    Brent crude was selling at $70.76 a barrel at noon, rising 1.09% to recover some of last week's losses. However, investor sentiment continues to be fairly pessimistic, which could affect prices.

    International markets

    The Dow Jones climbed 1.25% on Friday, while the Nasdaq rose 1.14% as investors bought up bargains such as bank shares, after talk that the financial regulation bill won't burden the US economy as much as feared.

    Japan's Nikkei fell 0.27% this morning, continuing last week’s losses after the yen strengthened and investors were pessimistic about world economic growth.

    China’s Shanghai index soared 3.48% on hopes that Beijing may ease on future tightening measures, which sent Chinese property developers higher.

    Britain's FTSE 100 had lifted 0.14% just before noon, recovering slightly after falls in energy and bank shares.

    Share price news

    Wesizwe Platinum Limited (WEZ) rose 10% to R2.20, after investors traded 234 810 shares in 39 deals.

    Paper producer Sappi Limited (SAP) rose to R27.66 a share, after more than 200 deals traded 409 269 shares, sending the share price up 3.02%.

    After 21 deals totaling 3 032 814 shares, Coronation Fund Managers Limited (CML) fell 4.29% to R10.70.

    Metorex Limited (MTX) lost 2.29% as shares fell to R3.41, after 660 559 shares were exchanged in 79 deals.

    Permalink2010-05-24, 12:18:08, by Natalie Email , Leave a comment

    Disagreement on how to solve Europe’s debt crisis sends global markets tumbling

    Local markets

    Friday noon saw the JSE All Share up 0.41%, though analysts expect the local bourse to follow international markets lower due to negative sentiment.

    Basic materials shares led gains, and alongside other sectors offset losses in gold mining and industrial stocks.

    The rand was trading at R7.89 to the US dollar at midday, falling from its R8 overnight level.

    Oil cost $70.86 a barrel, recovering 2.70% at 12:00 after earlier falls on concerns that European debt problems could hamper world economic growth and impact negatively on energy demand.

    International markets

    Yesterday, the Dow Jones tumbled 3.60% and the Nasdaq plunged 4.11% as european debt fears escalated. Analysts worry that bailout efforts will not be sufficient to prevent damage to global economic recovery.

    Japan's Nikkei dived 2.45% this morning, sustaining its heaviest weekly loss in over a year, as investors sold off riskier assets in light of news of disagreement on how to solve the euro zone debt crisis.

    The Hang Seng was closed for a public holiday.

    Britain's FTSE 100 had fallen 0.24% by midday SA time, losing for a third successive session on growing fears about Europe’s sovereign debt crisis and concern for the possible impact of stricter financial regulations on economic growth. Bank and oil shares were leading losses.

    Share price news

    BHP Billiton (BIL) rose 2.37% to R206 a share at noon, after 2 619 227 shares were sold in 1 977 deals.

    Anglo American PLC (AGL) gained 2.17% after 2 966 857 shares were traded in 3 011 deals, to sell at R279.30 a share.

    Gold One International (GDO) fell 4.76% to R1.80 a share, after investors exchanged 635 339 shares in 23 deals.

    After 6 deals totaling 1 018 000 shares, Peregrine Holdings Limited (PGR) fell to R11.95 a share, a loss of 4.40%.

    Permalink2010-05-21, 12:57:56, by Natalie Email , Leave a comment

    JSE down at noon, lacking direction

    Local markets

    At midday on Thursday, the JSE All Share had slipped 0.68%, with losses almost across the board, except for gold mining shares. Mixed global equities failed to give the local bourse any definite direction.

    12:00 saw the rand trading at R7.82 to the US dollar, once again following movements of the euro amidst mixed international markets.

    Gold had fallen 0.73% to $1 186.30 an ounce, despite the world's largest gold-backed ETF recent rise to its highest level ever, after investors sought a safe haven amid market uncertainty.

    International markets

    The Dow Jones fell 0.63% and the Nasdaq dropped 0.82% yesterday, after investors were spooked by Germany's ban on short selling of some stocks and bonds and became increasingly risk averse.

    Japan's Nikkei lost 1.54% this morning, falling to its lowest level in over three months as the euro's retreat from a recovery spurred selling of exporter shares.

    Hong Kong’s Hang Seng closed 0.17% lower, as investor concern over European debt issues weighed on European-linked shares such as HSBC.

    Britain's FTSE 100 had inched up 0.37% after gains in bank shares led a recovery after yesterday’s losses, lifted by news of improving debt problems in Dubai.

    Share price news

    Vehicle distributors Combined Motor Holdings Limited (CMH) rose 1.98% to R10.30 a share, after investors traded 358 060 shares in 7 deals.

    The Spar Group Limited (SPP) climbed 1.48% to sell at R76.66 a share, after 175 deals traded 121 681 shares by midday.

    After 1 227 deals of 1 624 023 shares, SABMiller PLC (SAB) fell 5.16% to R216.66 a share, after the company announced the composition of board committees this morning.

    In the construction sector, Esorfranki Limited (ESR) dropped to R3.01 a share, a loss of 5.94% as investors exchanged 132 058 shares in 27 deals.

    Permalink2010-05-20, 12:34:36, by Natalie Email , Leave a comment

    Negative global sentiment drives markets down

    Local markets

    At midday on Wednesday, the JSE All Share followed Asian and European markets – down 2.05%, with the largest losses in the basic materials sector. International sentiment was negative after Germany banned the short selling of eurozone government bonds.

    The rand was exchanging at R7.78 to the US dollar at 12:00, weakening after the euro fell against the dollar, reaching its lowest level in four years.

    Oil lost 0.23% to sell at $72.83 a barrel, coming under pressure of increasing crude inventories in the US and a move away from riskier assets on worries over tighter financial regulation.

    International markets

    Yesterday, US markets fell, led by losses in bank shares after concern over financial regulation gave way to worries about the health of global economic recovery.

    The Dow Jones dropped 1.08% while the Nasdaq lost 1.57%.

    Japan's Nikkei fell 0.54% this morning to reach its lowest in three months after losses in exporters came as the yen gained against the euro.

    Hong Kong’s Hang Seng finished 1.83% lower as investor sentiment took a hit from Germany's move to increase financial regulation and losses on global markets.

    Britain's FTSE 100 had fallen 2.01% by noon, after Germany limited short-selling and spurred sales of commodity and bank shares.

    Share price news

    Mazor Group Limited (share code: MZR) rose 2.33% to R2.20 at noon, following the sale of 1790 00 shares in 6 deals.

    After investors traded 723 327 shares in 5 deals, Business Connexion group Limited (BCX) gained 0.87% to sell at R5.80 a share.

    Losing 5.95% to sell at R39.50 a share, Pioneer Foods Group Limited (PFG) saw the exchange of 105 555 shares in 48 deals this morning.

    Optimum Coal Holdings Limited (OPT) fell 4.93% to R27, after 36 deals traded 69 358 shares.

    Permalink2010-05-19, 13:36:40, by Natalie Email , Leave a comment

    JSE, global markets flat

    Local markets

    On Tuesday at 12:00, the JSE All Share had edged up 0.16% in line with international markets, despite losses in gold mining and resource shares.

    The rand was trading at R7.53 to the US dollar at midday, staying within a range and looking to the euro for further direction.

    Gold cost $1 214.35 an ounce, falling 1.75% after the precious metal reached a lifetime high last week.


    International markets

    Yesterday the Dow Jones ended flat, up 0.05% while the Nasdaq inched up 0.31%. US markets gained on bargain hunting as investors bought beaten-down shares, temporarily ignoring the euro zone debt crisis.

    Japan's Nikkei closed 0.07% higher this morning, as losses due to short-covering was offset by the yen strengthened against the euro amid euro-zone worries.

    China’s Shanghai index rose 1.36% and Hong Kong’s Hang Seng climbed 1.17% as banking and resource shares led gains, and a recovery in the euro and commodity prices revived risk appetite.

    Britain’s FTSE 100 had edged up 0.5% with energy and mining stocks leading gains, and bank shares rose on increasing risk appetite crept back.


    Share price news

    Gaining 3.31% was Simmer and Jack Mines Limited (SIM), whose shares rose to R1.25 at midday, after 370 337 shares were exchanged in 19 deals.

    Metropolitan Holdings (MET) climbed 2.91% to R16.26, after investors traded 206 077 shares in 55 deals.

    After 189 deals totaling 464 988 shares, Netcare Limited (NTC) fell 2.24% to R13.08 a share by noon.

    Impala Platinum Holdings Limited (IMP) fell 2.14% to R192.53, after 1 557 deals saw the exchange of 648 417 shares.

    Permalink2010-05-18, 12:35:03, by Natalie Email , Leave a comment

    JSE tracks international markets lower

    Local markets

    At noon on Monday, the JSE All Share was down 0.4%, weighed on by losses in the oil and gas sector, which had lost 1.19%. The JSE followed negative trends on overseas markets.

    The rand was trading at R7.55 at midday, tracking a softer euro as debt problems continued to haunt Europe.

    Brent crude was selling at $76.46 a barrel, recovering 0.61% after recent losses related to higher US inventories and European debt concerns.

    International markets

    On Friday, the Dow Jones closed 1.51% lower, and the Nasdaq lost 1.98% after poor retail earnings, Senate support for credit card fees limits, and continued anxiety over European debt.

    Japan's Nikkei index finished 2.17% lower this morning on fears that the global economy could suffer more than expected, which saw exporters lose ground.

    Hong Kong’s Hang Seng fell 2.14% in line with US market losses and continued concern for the fiscal problems in the euro zone.

    The FTSE 100 had risen 0.99% just after midday, after BP shares rose on news of progress in containing an oil spill in the Gulf of Mexico, which offset losses in mining and banking shares.

    Share price news

    Vodacom Group Limited (share code: VOD) rose 2.24% to R57.30 at noon, after 812 071 shares were exchanged in 602 deals. Vodacom released positive preliminary results this morning for the last financial year.

    Retailer JD Group Limited (JDG) rose to R41.16 a share, a gain of 2.64% as investors traded 349 677 shares in 256 deals. JD Group also released good results for the six months ended 28 February.

    In the real estate sector, Fountainhead Property Trust (FPT) fell 4.06% to R6.38 a share, after 413 901 shares were traded in 84 deals.

    459 162 shares were exchanged by investors in 368 deals, sending the share price of Capital Shopping Centres Group PLC (CSO) down 2.92% to R36.60 at noon.

    Permalink2010-05-17, 12:44:48, by Natalie Email , Leave a comment

    JSE down following negative global sentiment

    Local markets

    Friday midday saw the JSE All Share down 1.7%, following negative global sentiment and weighed on by losses in the basic materials sector. Investors awaited international news and US April retail sales data due this afternoon.

    The rand was trading weaker at R7.56 to the US dollar at 12:00, as usual following a weaker euro-dollar exchange rate.

    Brent crude oil was selling at $78.20 a barrel, after US inventories were higher and investors remained concerned that European debt will limit energy demand.

    International markets

    The Dow Jones fell 1.05% yesterday while the tech-heavy Nasdaq lost 1.26%, as pessimistic comments on the economy from Cisco Systems Inc and Kohl's Corp revived doubts of the force of economic recovery.

    Japan's Nikkei gave up 1.49% this morning after losses in exporters such as Canon Inc came after negative commentary on US tech markets.

    In China, the Shanghai index dipped 0.51% after a report that the China Securities Regulatory Commission had not stopped the process of approving initial public offerings.

    Britain's FTSE 100 had slipped 1.51% by noon, as investors continued to worry over euro-zone debt and austerity measures, leading to losses in banking and mining shares.

    Share price news

    Afrimat Limited (share code: AFT) rose 3.03% to R3.40 a share at noon, after 119 000 shares were traded in 15 deals.

    Gold One International Limited (GDO) saw 27 deals exchange 641 420 shares, spurring a 2.69% increase in share price to R1.91 a share.

    Losing 5.66% this morning was Petmin Limited (PET) whose share price fell to R2.50 after 16 deals traded 430 374 shares. Platmin announced the completion of an issuance of new common shares and convertible debentures.

    Impala Platinum Holdings Limited (IMP) fell 3.87% to R197.83, after investors exchanged 402 516 shares in 1 051 deals this morning.

    Permalink2010-05-14, 12:13:53, by Natalie Email , Leave a comment

    Losses across the board see JSE down at midday


    Local markets

    On Thursday at noon, shares were down across the board, and losses in gold mining and financial shares led the slide. The JSE All Share had fallen 0.39%, retreating after earlier gains inspired by positive global sentiment.

    The rand was selling at R7.50 to the US dollar, weakening slightly in line with a softer euro, but remaining within a range.

    Brent crude oil cost $80.69 a barrel, up 0.86% as stronger equity markets in Asia offset rising crude inventories in the Midwest US.


    International markets

    Yesterday, technology and industrial shares lifted US markets after Spain announced an austerity plan that reassured investors. The Dow Jones gained 1.38% while the Nasdaq climbed 2.09%.

    In Japan, the Nikkei rose 2.18% this morning, after Spain’s austerity plan announcement calmed fears of spreading debt in Europe, and boosted exporter stocks.

    In China, the Shanghai index ended 2.06% higher, while Hong Kong’s Hang Seng closed up 1.04% as investors bought shares in Chinese banks after a recent correction.

    Britain’s FTSE 100 had edged up 0.11% by midday, after gains in commodity shares came after news of European austerity measures raised demand expectations for raw materials.

    Share price news

    In the broadcasting contractors sector, Naspers Limited (share code: NPN) gained 3.12% to sell at R308.85 a share, after investors traded 1 410 573 shares in over 1 300 deals by noon.

    Gaining 3.32% was Dimension Data Holdings Limited (DDT) whose shares sold for R11.52 each after 1 284 235 shares were exchanged in 330 deals.

    KAP International Holdings (KAP) fell 4.17% to R2.30 a share, after 157 573 shares were sold in 4 deals.

    In the building and construction materials sector, Pretoria Port Cement (PPC) slid 3.21% to R33.20 a share, after 857 671 shares were traded in 667 deals.

    Permalink2010-05-13, 12:36:08, by Natalie Email , Leave a comment

    JSE climbs as gold hits record highs

    Local markets

    On Wednesday at noon, the JSE All Share had risen 1%, boosted by gains in gold mining and financial shares.

    The rand was trading at R7.49 to the US dollar at midday, remaining range bound following movements of the euro.

    Gold continued to reach record highs this morning, selling at $1 242.40 an ounce by 12:00 as investors were attracted by the precious metal’s safe-haven appeal in light of persistent worry about the euro zone debt crisis.

    International markets

    Yesterday on US markets, the Dow Jones closed 0.34% lower while the Nasdaq finished flat up 0.03%. Trade was volatile, reflecting fears that Greece’s bailout will not be sufficient to solve the euro zone’s fundamental problems.

    Japan's Nikkei lost 0.16% this morning at its close, as earlier gains were offset as concern about the euro zone's debt problems continued to dampen sentiment.

    Hong Kong’s Hang Seng rose 0.33% and China’s Shanghai index edged up 0.31% despite euro zone debt concerns.

    Britain's FTSE 100 had inched up 0.02% by midday, after gains that came from banks in relief over the announcement of the new British government.

    Share price news

    Old Mutual PLC (share code: OML) was highly active this morning, as investors exchanged 34 028 828 shares in 3 700 deals, which saw the share price climb 4.61% to R13.15 at noon.

    Nedbank Group Limited (NED) rose 3.44% to R139.95 a share, after 4 208 054 shares were traded in 2 681 deals.

    Sentula Mining Limited (SNU) lost 2.82% after 25 deals exchanged 161 257 shares, which saw the share price drop to R2.76.

    Simmer and Jack Mines Limited (SIM) fell to R1.22 a share at noon, a loss of 1.61% after 127 700 shares were sold in 16 deals.

    Permalink2010-05-12, 15:05:05, by Natalie Email , Leave a comment

    Wall Street plunge leaves global markets reeling

    Local markets

    At noon on Friday, the JSE All Share had slipped 1.83%, as losses in financial and industrial shares weighed. Investors sold off their shares in reaction to Wall Street's overnight plunge and amid intensifying concern for Greece’s debt problems.

    The rand had fallen to R7.71 a share at midday, following a weaker euro as global markets reeled following Wall Street's plummet overnight.

    Oil had lost 0.4%, selling at $79.68 a barrel as investors awaited the outcome of a meeting of international leaders to try to remedy Greece's debt crisis.

    International markets

    US markets were jittery yesterday after a near 1 000 point slide in the Dow Jones, its biggest intraday points drop ever, driven by an apparent glitch from high-frequency online trading. The Dow closed 3.20% lower, while the Nasdaq fell 3.44%.
    Japan's Nikkei average lost 3.10% this morning, as investors followed the global sell-off trend spurred by Europe's debt crisis.
    China's Shanghai index lost 1.87% again due to persistent worries about domestic monetary tightening, and the possible spread of Greece's debt troubles.
    Britain’s FTSE 100 was 0.98% lower at noon, as euro zone debt fears weighed and investors were uncertain of the outcome of yesterday’s election.

    Share price news

    Anglogold Ashanti Limited (share code: ANG) rose 1.64% to R316.60 by noon, after investors traded 1 031 310 shares in 2 703 deals.

    In the shipping and ports sector, Trencor Limited (TRE) gained slightly to sell at R32.52 after 4 deals exchanged 2 315 314 shares.

    After 271 deals totaling 4 693 630 shares, Merafe Resources Limited (MRF) fell 6.43% to sell at R1.60 at midday.

    JD Group Limited (JDG) lost 6.85% to sell at R39 a share, after 149 266 879 shares were traded in 818 deals this morning.

    Permalink2010-05-07, 13:30:34, by Shaun Crous Email , Leave a comment

    Greek debt fears continue to weigh on global markets

    Local markets

    Gold mining shares had fallen 0.9% by midday, while gains in other sectors managed to keep the JSE All Share just in the black, up 0.15%.

    The rand continued to weaken to sell at R7.62 a US dollar at noon, as the Greek debt crisis remained a concern for currency traders.

    Oil cost $81.81 a barrel at 12:00, falling 1.43% in line with global stock markets as investors continued to fear the spread of Greece’s debt to other vulnerable nations.


    International markets

    US markets slid yesterday, with the Dow Jones closing 0.54% down and the Nasdaq losing 0.91%, as further signs appeared to suggest the spread of debt problems to larger euro economies.

    Japan's Nikkei tumbled 3.27% this morning as investors returned to the market after the spring holidays, and faced deepening concern about the spread of Greece’s debt issues.

    Hong Kong’s Hang Seng slid 0.96% also on Greek debt worries, as well as the possible impact of further monetary tightening in China.

    The UK’s FTSE 100 had fallen 0.07% by noon, returning to a downward trend after staging a short recovery from early losses after heavy selling on voting day.

    Share price news

    Shares in Spur Corporation Limited (share code: SUR) had risen 2.71% to R13.25 at noon, after 551 800 shares were traded in 106 deals.

    In the computer services sector, Dimension Data Holdings Limited (DDT) rose 2.05% after 113 deals exchanged 271 113 shares, sending the share price up to R10.44.

    Fortress Income Fund Limited (FFA) fell 3.92% to R9.80 a share after investors sold 24 219 458 shares in 7 deals.

    After 158 deals totaling 1 167 457 shares, Redefine Properties Limited (RDF) fell 2.31% to R7.62 a share at midday.

    Permalink2010-05-06, 12:22:25, by Natalie Email , Leave a comment

    JSE up despite global worries over spread of euro zone debt

    Local markets

    Led by a recovery in the basic materials sector, the JSE All Share was up 0.20% at noon on Wednesday, though losses in industrial and financial shares limited further gains.

    The rand was trading at R7.56 to the US dollar at 12:00, little changed from its overnight levels. Traders expect the rand to continue following the weaker euro in light of persistent Euro debt problems.

    Gold was selling at $1170.40 an ounce, down 0.98% after investors continued to sell off their commodities and shares.


    International markets

    The Dow Jones fell 2.02% and the Nasdaq lost 2.98% yesterday as US investors sold on concerns that Europe's debt crisis could spread to other weak euro zone countries, despite the help of a bailout to Greece.

    The Nikkei remained closed today as Japan’s spring holiday continued.

    The Hang Seng finished 2.10% lower this morning as bank shares slid on increasing anxiety that the Greek debt crisis could become worse, dampening global economic recovery.

    Britain's FTSE 100 had edged up 0.02% at midday as euro zone debt worry saw banks slide, while oil prices declined and sent energy stocks falling.


    Share price news

    After 2 760 deals of 3 050 919 shares, BHP Billiton PLC (share code: BIL) had risen 2.81% to R219.83 at midday.

    Merafe Resources Limited (MRF) rose 1.78% to R1.72 at noon, after investors traded 3 368 842 shares in 159 deals.

    Simmer and Jack Mines Limited (SIM) lost 3.85% as traders exchanged 388 052 shares in 48 deals, which sent the share price falling to R1.25.

    Losing 2.29% to sell at R50.32 a share, Northam Platinum Limited (NHM) saw the exchange of 434 131 shares in 325 deals by midday.

    Permalink2010-05-05, 12:41:46, by Natalie Email , Leave a comment

    Losses on global markets see JSE flat


    Local markets

    At midday on Tuesday, basic materials shares were down 1.12%, leading the JSE All Share down 0.45% following movements on international markets. Gold mining bucked the trend, gaining 1.70% by noon.

    The rand was trading at R7.48 to the US dollar, remaining fairly stable as it followed the euro.

    Brent crude oil fell to $88.91 a barrel, a loss of 1.03% as a stronger US dollar weighed and a surprise increase in US inventories.


    International markets

    Yesterday, the Dow Jones rose 1.30% while the Nasdaq climbed 1.53% after a flurry of manufacturing, consumer spending and construction data boosted hopes that economic recovery will continue.

    The Nikkei index was closed for Japan’s spring holiday season.

    In France, the CAC40 was 1.38% down, while Germany’s DAX had lost 0.76% by midday, as investors were still uneasy about Greece's bailout and were concerned that the debt problems would spread to other euro zone countries.

    Britain’s FTSE 100 was 1.12% down, as losses in mining shares came after news of an Australian tax on the sector. Banks fell on renewed concern for euro zone debt contagion.

    Share price news

    Gold Fields Limited (share code: GFI) rose 1.58% to R99.99 a share, after 612 793 shares were exchanged in 826 deals.

    After 334 deals totaling 788 947 shares, Netcare Limited (NTC) rose 1.55% to sell at R13.76 a share at midday. Netcare announced basic earnings per share for the six months ended 31 March 2010 as expected to be between 20% and 30% higher than for the last comparative period.

    Mazor Group Limited (MZR) in the building and construction materials sector fell 4.44% to R2.15 a share, after 19 deals traded 337 791 shares.

    Gold One International Limited (GDO) lost 3.68% as investors exchanged 566 205 shares in 10 deals, which sent the share price falling to R1.83 at noon.

    Permalink2010-05-04, 13:48:14, by Natalie Email , Leave a comment