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    Global markets on the slide on caution over upcoming U.S. GDP data

    Local markets

    The JSE opened firmly in the red maintaining the negative slide into midday. The All Share Index was 1.45% lower at 12:00pm with resource stocks losing 1.79%. Weak performing global markets weighing heavily on investor sentiment.

    The South African rand retreated against the dollar at midday, trading at 7.36 to the U.S. currency. The local currency is weaker as global equity markets retreated over night.

    Gold gained this morning to trade at $1170.50 as physical buyers bought up bullion across Asia ahead of US second quarter GDP results.

    International markets

    Yesterday the U.S. markets closed lower, the Dow Jones industrial average lost 0.29%, and the Nasdaq closed 0.57% lower. Wall Street slumped in volatile trade as investor’s sentiment was weighed by weak outlook on technology companies and as investors await the release of U.S. GDP data.

    Japan’s, Nikkei share average slid this morning, losing 1.64%, positive domestic earnings results were overlooked as investors pulled back in anticipation of U.S. GDP data and anxiety over the strengthening of the yen.

    In Hong Kong the Hang Seng fell 0.30% this morning, following the trend of global markets. Asian markets were lower this morning amid anxiety over upcoming growth results from the U.S.

    The FTSE 100 is trading 0.38% lower at midday SA time, the market is feeling pressure from Wall Street’s overnight performance as investors await upcoming U.S. GDP data and concerns over U.S. economic recovery are renewed.

    Share price news

    Simmer And Jack Mines Limited (share code: SIM) gained 5.88% when shares climbed to R1.08 a share at noon, as investors traded 1 010 620 shares in 73 deals.

    Merafe Resources Ltd (MRF) saw its shares climb to R1.38 a share, showing a gain of 0.73%, as investors traded 1 620 791 shares in 101 deals.

    Losing ground was Bhp Billiton Plc (BIL), whose shares fell 2.88% to R222.90 after 943 deals saw the exchange of 1 488 357 shares.

    Old Mutual Plc (OML) shares lost 2.04% to trade at R13.91 when 476 deals saw investors trade 2 285 850 shares.

    Permalink2010-07-30, 12:10:09, by Natalie Email , Leave a comment

    U.S. economic recovery concerns weigh on global markets

    Local markets

    The local market is holding up across the board despite pessimistic U.S. economic data. The All Share Index is 0.44% higher with resource shares gaining 0.51% in morning trade.

    The local currency strengthened to its U.S. counterpart, at midday the rand is trading at 7.30 to the U.S. dollar as the greenback is weighed heavily by disappointing economic data.

    Gold price has regained strength to trade at $1165.85 a fine ounce as the as the U.S. dollar weakens and traders report improved buying in India, a major consumer of the precious metal.

    International markets

    On the U.S. markets yesterday, the Dow Jones average lost 0.38%, with the Nasdaq losing 1.04%, after weak durable goods figures and a pessimistic review of the U.S. economy by the Fed weighed on the markets.

    Japan’s Nikkei closed 0.59% lower this morning. Investor sentiment took a knock on the back of a gloomy U.S. economic outlook by the Federal Reserve as well as a decline in durable goods orders.

    The Shanghai Composite Index finished 0.55% higher with steel companies’ shares rallying, pushing the market to a two month high as investors expect the Chinese government to maintain its loose monetary policy throughout the year.

    The FTSE 100 was up 0.65% at midday SA time as investor sentiment was improved by strong corporate earnings results, technology shares are the best performing sector, pushing Britain’s bourse into the black.

    Share price news

    Simmer And Jack Mines Limited (share code: SIM) gained 5.21% with shares climbing to R1.01 a share at 12:00, a as investors traded 623 081 shares in 47 deals.

    Emira Property Fund (EMI) saw its shares climb to R13.45 a share, showing a gain of 0.75%, as investors traded 289 100 shares in 31 deals.

    Pinnacle Technology Holdings Limited (PNC) shares lost 1.84% to trade at R4.80 when 12 deals saw investors trade 589 215 shares.

    After 5 deals totaling 178 600 shares, Tradehold Limited (TDH) lost 6.48% as shares fell to R 1.01 at noon.

    Permalink2010-07-29, 13:06:57, by Natalie Email , Leave a comment

    Solid earnings drive global markets higher

    Local markets

    After a strong opening, the JSE is marginally higher at midday. The All Share Index is gained 0.11% while resource shares are trading 0.55% higher. The local bourse is following stronger global markets.

    The South African rand was remains firm in midday trade, tracking a stronger euro. At midday the rand was trading at 7.35 per dollar level.

    Oil fell to $75.83 a barrel at midday as doubts over energy demand resurfaced spurred on by falling U.S. consumer confidence and an increase in U.S. stockpiles.

    International markets

    On the U.S. markets yesterday, the Dow Jones average gained 0.12%, while the Nasdaq closed 0.36% lower. The U.S. markets were mixed amid varied earnings and a slump in consumer confidence, however all indications are that Wall Street will return to rally.

    The Nikkei rallied to close 2.70% higher this morning. The Japanese market climbed to its highest close, as well as its biggest one day gain in two weeks amid positive earnings locally and internationally as well as a weaker local currency.

    In Hong Kong the Hang Seng Index closed 0.63% higher, with investors guarded over the start of corporate earnings season, the market still managed to close in the black giving it a seventh straight gaining session close.

    The FTSE 100 saw modest gains, climbing 0.03% at midday SA time. Positive European corporate earnings results are pushing British banking shares higher, while improved metal prices elevated mining shares.

    Share price news

    Diversified aviation group, 1time Holdings Limited (share code: 1TM) gained 5.60% with shares climbing to R1.32 a share at 12:00, a as investors traded 430 849 shares in 35 deals.

    Digicore Holdings Limited (DGC) in the electronic equipment sector, saw its shares climb to R3.10 a share, showing a gain of 2.65%, as investors traded 488 479 shares in 5 deals.

    Impala Platinum Holdings Limited (IMP) shares lost 2.90% to trade at R197.88 when 2711 deals saw investors trade 1 382 552 shares.

    After 634 deals totaling 975 205 shares, Clicks Group Limited (CLS) lost 0.99% as shares fell to R36.14 at noon.

    Permalink2010-07-28, 13:06:17, by Natalie Email , Leave a comment

    Global market advance on strong U.S. data

    Local markets

    Trading on the JSE cash equities market has been halted due to a technical glitch. The JSE will issue regular updates until trading resumes.

    South Africa's rand was steadier against the dollar at midday, trading at 7.33 to the U.S. currency. The local currency was boosted by a stronger euro and strong performance overnight on the U.S. markets.

    Brent Crude Oil prices have steadied, trading $76.78 a barrel as traders showed concern over forecasts showing falling inventories and rising refined product stocks in the U.S.

    International markets

    Yesterday the U.S. markets closed higher, amid positive FedEx earnings results and better than expected home sales figures. The Dow Jones industrial average gained 0.97%, and the Nasdaq closed 1.19% higher.

    Japan’s, Nikkei share average edged 0.07% lower this morning, when the market saw strong support from local earnings results but investors are worried about the strength of the local currency.

    In Hong Kong the Hang Seng gained 0.64% this morning, seeing its sixth consecutive session gain. A rally in risky assets was spurred on by strong U.S. economic and earnings data.

    $The FTSE 100 is trading 0.62% higher at midday SA time, the market is being lifted by strong second-quarter performance of banks as well as rising pharmaceutical shares.

    Share price news

    In early morning trade:

    Old Mutual Plc (share code: OML) gained 0.22% when shares climbed to R13.88 a share at noon, as investors traded 109 565 shares in 7 deals.

    Merafe Resources Ltd (MRF) saw its shares climb to R1.39 a share, showing a gain of 2.96%, as investors traded 15 000 shares in 1 deals.

    Losing ground was Dimension Data Holdings Limited (DDT), whose shares fell 0.99% to R14.05 after 5 deals saw the exchange of 35 127 shares.

    Pioneer Foods Group Limited (PFG) shares lost 0.72% to trade at R41.50 when 2 deals saw investors trade 9 512 shares.

    Permalink2010-07-27, 13:16:19, by Natalie Email , Leave a comment

    EU bank stress tests edge global markets higher

    Local markets

    The JSE All Share index gained to trade 0.19% higher at midday, the market is edging higher on results of the bank stress tests with financial shares trading 0.29% higher.

    The local currency is firmer at midday, trading at 7.38 to its U.S. counterpart; the rand is in line with a firmer euro which improved in response to positive EU bank stress tests.

    Gold is trading at $1188.84 a fine ounce at midday, lifted by physical buying however investors remain cautious as EU bank stress tests revealed no surprises failing to spur on buying of the safe-haven asset.

    International markets

    The U.S. markets gained on Friday with the Dow Jones closing 0.99% higher and the Nasdaq gaining 1.05%. Wall Street saw GE raising quarterly dividend by 20%, the wide-ranging impact that the company has on the U.S. economy, coupled with another round of sturdy corporate earnings, reinforced positive investor sentiment.

    Tokyo's Nikkei share average firmed this morning to close 0.77% higher on profit taking and investor anticipation of European market’s response to bank stress tests.

    In Hong Kong, the Hang-Seng Index closed 0.12% higher, as investors looked to earnings results from local property developers. Friday’s strong corporate earnings from the U.S. also saw the market react favorably.

    The FTSE 100 had lost to trade 0.03% higher at 12:00pm local time, after marginally gaining earlier the market returned to trade in the red. Britain’s bourse is helped by mining shares to trade ahead of other European markets that are surrendering on falling pharmaceutical stock.

    Share price news

    Gold mining company, Simmer And Jack Mines Limited (Share code: SIM) saw a rise of 8.25% to trade at R1.05 per share at midday when 696 029 shares were traded in 38 deals.

    Blue Label Telecoms Limited (BLU) gained 2.22% in 9 deals totaling 1 582 628 shares pushing the share price to R 4.60 a share.

    After investors traded 1 121 362 shares in 1959 deals, Impala Platinum Holdings Limited (IMP) lost 1.23% to sell at R201.00 a share at midday.

    Dimension Data Holdings Limited (DDT), in Computer Services sector, fell 0.63% to R14.10 a share, after 130 deals exchanged 1 542 013 shares.

    Permalink2010-07-26, 12:15:07, by Natalie Email , Leave a comment

    Upbeat US corporate earnings see global sentiment lift

    Local markets

    The JSE All Share had risen 0.47% by noon on Friday, with gains in resource shares leading the upward movement due to firmer commodity prices, and positive US corporate results lifting sentiment.

    The rand was trading at R7.41 to the US dollar at midday, weakening slightly after the MPC meeting yesterday decided to leave interest rates unchanged.

    Oil was selling at $76.97 a barrel, rising 1.28% in line with a rally on equity markets and the threat of a storm to oil operations in the Gulf of Mexico.

    International markets

    Yesterday, the Dow Jones closed 1.99% higher while the Nasdaq climbed 2.68% after strong earnings from 3M, UPS and Caterpillar boosted investor sentiment.

    Japan’s Nikkei rose 2.28% this morning, bringing a five-day losing streak to an end, after concern about the results of European bank stress tests was alleviated somewhat by upbeat US corporate earnings.

    Hong Kong’s Hang Seng closed 1.10% higher, as investor sentiment lifted after positive closes on US markets after good corporate results.

    Britain's FTSE 100 had slipped 0.27% by midday, after losses in banks offset gains in mining shares, ahead of European bank stress test results.

    Share price news

    Computer services company Dimension Data Holdings Limited (share code: DDT) rose 1.07% to R14.15 at noon, after 311 deals saw the exchange of 7 920 843 shares.

    After 9 636 019 shares were traded in 66 deals, Metorex Limited (MTX) climbed 2.22% to sell at R3.68 a share at 12:00.

    Redefine Properties Limited (RDF) fell 0.65% after 176 deals exchanged 5 919 520 shares, sending the share price down to R7.59.

    Growthpoint Properties Limited (GRT) slid to R16.29 a share, a loss of 0.24% after traders exchanged 1 020 199 shares in 300 deals.

    Permalink2010-07-23, 12:24:39, by Natalie Email , Leave a comment

    JSE gains ahead of MPC rate decision due today

    Local markets

    At midday on Thursday, the JSE All Share had gained 0.94% after small losses this morning, gains in basic materials as investors focused on the MPC rate decision due this afternoon.

    The rand was trading at R7.53 to the US dollar at noon, remaining stable despite US Federal Reserve Chairperson Ben Bernanke's semi-annual testimony to the Congress yesterday.

    Gold prices rose 0.16% to $1186.50 an ounce at 12:00, as analysts expected mostly positive European bank stress test results at the end of the week.

    International markets

    On US markets yesterday, the Dow Jones closed 1.07% lower, while the Nasdaq finished 1.58% down after Federal Reserve Chairman Ben Bernanke's negative assessment of the U.S. recovery unsettled Investors.

    Japan’s Nikkei fell 0.62% this morning, adding a fifth day of losses after a stronger yen took its toll on stocks.

    Hong Kong’s Hang Seng salvaged a 0.50% gain after US Federal Reserve Chairman Ben Bernanke commented that the economic outlook was "unusually uncertain."

    Britain's FTSE 100 had risen 0.73% at noon, after gains in bank shares came after positive earnings from American counterparts.

    Share price news

    Firstrand Limited (share code: FSR) rose 1.34% to R20.42 after 3 892 471 shares were traded in 1 040 deals.

    Compagnie Fin Richemont (CFR) gained 2.24% after investors exchanged 3 186 095 shares in 513 deals, sending the share price up to R29.19.

    After 1 485 deals totaling 1 803 234 shares, MTN Group Limited (MTN) fell 0.34% to R117.50 a share at midday.

    Naspers Limited (NPN) fell 0.67% to sell at R295 a share near midday, after 1 584 deals traded 1 066 643 shares.

    Permalink2010-07-22, 12:51:15, by Natalie Email , Leave a comment

    Global markets await Bernanke’s testimony to US congress

    Local markets

    At midday on Wednesday, the JSE All Share had risen 1.44% as gains in the oil and gas index and resource shares led the bourse upwards. Investors hoped for positive comments from US Federal Reserve Chairperson Ben Bernanke later today.

    The rand was trading steadily at R7.54 to the US dollar at noon, before Ben Bernanke's testimony to Congress due this afternoon.

    Brent crude oil rose 2.01% to sell at $76.51 a barrel after positive corporate results from the US raised hopes for a strong economic recovery.

    International markets

    On US markets yesterday, the Dow Jones gained 0.74% and the Nasdaq rose 1.10% led by gains in Goldman Sachs and a recovery in homebuilders and raw materials companies.

    Japan’s Nikkei average closed 0.23% lower this morning on concern over a stronger yen and doubts over the economic recovery in the US.

    China’s Shanghai index inched up 0.26% while Hong Kong’s Hang Seng rose 0.91% this morning, as a rally in steel shares swept Asia.

    Britain's FTSE 100 had risen 1.55% by noon SA time, after gains in energy, banking and mining shares came after talk of possible Federal Reserve stimulus moves helped to increase risk appetite.

    Share price news

    Mondi PLC PRE (share code: MNP) rose 5.03% to R48 after investors traded 444 932 shares in 239 deals by noon.

    After 3 008 051 shares were exchanged in 572 deals, shares in Old Mutual PLC (OML) climbed 2.95% to sell at R13.24.

    Medi-clinic Corp NPL (MDCN) fell 5.71% to R2.31 a share, as 12 deals traded 4 007 749 shares.

    Spur Corporation Limited (SUR) traded at R12.10 after investors exchanged 232 903 shares in 6 deals, leading to 2.34% loss by midday.

    Permalink2010-07-21, 12:36:09, by Natalie Email , Leave a comment

    Firmer performance on Wall Street edges global markets higher

    Local markets

    The JSE All Share turned negative at midday, trading 0.49% lower, the JSE is tracking international markets after firmer performance on Wall Street overnight. Resources shares are leading the slide on the local bourse, edging 0.56% lower.

    The rand is firmer at midday, trading 7.62 to the U.S. dollar. The rand is range-bound and firmer despite strong indications that government is seeking to weaken the currency.

    Brent crude oil increased gains in Asian trade this morning, to trade at $75.39 a barrel, following a firmer performance on Wall Street and as traders await stronger indicators on the health of the global economy.

    International markets

    In the U.S. yesterday, the Dow Jones average gained 0.56%, with the Nasdaq gaining 0.88%. US markets closed firmer overnight on positive earnings data from key technology companies and Boeing’s announcement of increased orders.

    In Japan this morning, the Nikkei average fell 1.15% with technology stock hit by anxiety over the pace of U.S. economic recovery as well as investor disappointment in U.S. corporate earnings results,

    Hong Kong’s, Hang Seng Index finished in positive territory, gaining 0.86%. China’s move to relax its control over the Yuan had the market react positively helped on by firmer overnight performance on Wall Street.

    The FTSE 100 is edging 0.09% higher at midday local time. Telecoms shares weakened on fears of an impact by government cuts but were balanced out by modest gains in mining shares.

    Share price news

    Bhp Billiton Plc (share code: BIL) gained to R212.34 a share at 12:00, a gain of 0.53% as investors traded 1 485 148 shares in 1405 deals.

    Mazor Group Limited (MZR) saw its shares climb to R1.85 a share, showing a gain of 1.65%, as investors traded 1 087 753 shares in 15 deals.

    Sabmiller Plc (SAB) shares lost 2.16% to trade at R217.21 when 1356 deals saw investors trade 1 559 358 shares.

    After 822 deals totaling 631 194 shares, Harmony Gold Mining Company Limited (HAR) lost 2.01% as shares fell to R76.19 at noon.

    Permalink2010-07-20, 12:31:15, by Natalie Email , Leave a comment

    Global markets weaker on disappointing U.S. economic data

    Local markets

    The JSE All Share is weaker at midday, trading 0.17% lower, the local market opened in the red in line with global markets, amid negative U.S. data that saw Wall Street slide at its last close. Industrials are leading the slide on the local bourse, losing 0.60%.

    The local currency is tracking a softer euro at midday, trading 7.63 to the U.S. dollar.

    This comes as Ireland’s credit rating is downgraded and concern’s are renewed over the stability of the Eurozone financial wellbeing.

    Brent crude oil slipped in Asian trade this morning, to trade at $74.62 a barrel, as trader’s sentiment was hurt by disappointing U.S. economic data that points to a curb in demand from the world’s largest energy consumer.

    International markets

    In the U.S. on Friday, Wall Street saw significant losses. The Dow Jones average lost 2.52%, with the Nasdaq loosing 3.11%. Dreary consumer sentiment data and weak revenues from GE and two big banks crashed U.S. stocks. Technology and banking earnings data are set to shape investor sentiment in the week ahead.

    Japan’s Nikkei average lost 2.86% on Friday, at its last close, seeing its worst one-day loss in over a month. Japan’s markets are shut this morning for public holiday.

    Hong Kong’s, Hang Seng Index finished lower, losing 0.79% this morning. Asian markets were lower this morning after disappointing results from U.S. saw investor sentiment decline.

    The FTSE was up 0.10% at midday local time, as investor fears over the global economic recovery were renewed. Following disappointing economic data out of the U.S., Britain’s banking stock was on the slide with BP shares losing ground on renewed concern over the effectiveness of the cap on its leaking well in the Gulf.

    Share price news

    Capital & Counties Prop Plc (share code: CCO) gained to R13.08 a share at 12:00, a gain of 1.40% as investors traded 142105 shares in 70 deals.

    Drdgold Limited (DRD) saw its shares climb to R3.32 a share, showing a gain of 3.11%, as investors traded 99 750 shares in 36 deals.

    Merafe Resources Limited (MRF) shares lost 2.99% to trade at R1.30 when 19 deals saw investors trade 349 500 shares.

    After 303 deals totaling 602 316 shares, Aquarius Platinum Limited (AQP) lost 17.74% as shares fell to R27.97 at noon.

    Permalink2010-07-19, 12:38:35, by Natalie Email , Leave a comment

    JSE stronger on Kumba and MTN

    Local markets

    The JSE All Share is stronger at midday trading 1.37% higher, the local market is gaining across the board with resource shares rallying, up 1.97%. Sentiment was bolstered by good news from Kumba Iron Ore and MTN, helping to ignore weak global markets.

    The rand is steadied at midday trading at 7.56 to the U.S. dollar, next week’s monetary policy committee meeting and their rate decision should give further direction to the rand.

    Oil slipped to trade at $76.14 as global markets fell on disappointing U.S. economic indicators, two potential oceanic storms are providing support to the prices.

    International markets

    In the U.S. yesterday, the markets changed little, the Dow Jones average lost a few points, the Nasdaq gained 0.03%. Investor focus was on key earnings results which, although positive, failed to move the markets significantly.

    Japan’s Nikkei average lost 2.86% this morning, showing its worst one day loss in over a month. As Japan prepares for a long weekend, investors pulled out of the market turning technology stocks bearish.

    Hong Kong’s, Hang Seng Index finished flat, loosing 0.03%.Investor bargain-hunting was held back by a shaky market debut of Agricultural Bank of China and alarm over a slowing Chinese economy.

    The FTSE was up 0.71% at midday SA time. Britain's top shares rallied led by BP, which climbed on the announcement that the company has stopped the gushing oil well in the Gulf of Mexico, bank shares fell as modest U.S. corporate results weighed on the sector.

    Share price news

    Kumba Iron Ore Ltd   (share code: KIO) rallied to R 341.50 a share at 12:00, a gain of 1.79% as investors traded 109 796 shares in 567 deals on an announcement relating to the Sishen Supply Agreement.

    Bhp Billiton Plc (BIL) saw its shares climb to R216.60 a share, showing a gain of 2.67%, as investors traded 1 388 971 shares in 968 deals.

    Metorex Limited (MTX) shares lost 1.42% to trade at R3.48 when 58 deals saw investors trade 531 619 shares.

    After 439 deals totaling 508 447 shares, Vodacom Group Limited (VOD) lost 0.05% as shares fell to R60.93 at noon.

    Permalink2010-07-16, 12:51:08, by Natalie Email , Leave a comment

    Local markets edge higher on news of DiData offer

    Local markets

    The JSE All Share was edging up at midday, trading 0.25% higher, the local bourse is gaining on news of an offer for Dimension Data Holdings. The JSE is positive across the board with industrial shares gaining 0.54%.

    The local currency strengthened in midday to trade at 7.54 to the U.S. dollar, helped on by news of NTT’s all cash offer to buy Dimension Data Holdings.

    Gold has edged up to trade at $1211.60, after China's growth data for the second quarter was slightly weaker than expected saw investors flock to the safe-haven asset.

    International markets

    On the US markets yesterday, the Dow Jones edged 0.04% higher, with the Nasdaq gaining 0.35%. Federal Reserve anxiety over the pace of economic recovery in the U.S. saw investor sentiment sour, after a rally earlier in the day.

    The Nikkei average closed 1.12% lower this morning. Asian markets felt pressure from U.S. Federal Reserve concern about the pace of the U.S. economic recovery, but were assisted by better than expected Chinese economic growth data.

    Hong Kong’s, Hang Seng Index finished 1.48% lower. Agricultural Bank of China's IPO offered a boost to banking stock and China's second-quarter GDP data which is still in the double digits, calming fears of a sharp slowdown. Investor sentiment was hurt by U.S. Fed’s suggestion of a weakening economy.

    The FTSE was down 0.33% at midday SA time, after seeing bank and mining shares weaken on renewed concerns over global economic recovery. Britain’s market saw investor risk appetite wane after pessimistic economic news from China and the U.S.

    Share price news

    Dimension Data Holdings (share code: DDT) rallied to R14.07 a share at 12:00, a gain of 21.61% as investors traded 20 037 378 shares in 1986 deals on news of an all cash offer for purchase by Nippon Telegraph and Telephone Corporation.

    Merafe Recourses Limited (MRF) saw its shares climb to R1.37 a share, showing a gain of 5.38%, as investors traded 1 028 896 shares in 58 deals. Investors are spurred on by positive headline earnings.

    Retailer, Italtile Limited (ITE) shares lost 1.32% to trade at R3.75 when 2 deals saw investors trade 256 633 shares.

    After 575 deals totaling 201 822 shares, Exxaro Resources Limited (EXX) Metals & Minerals sector lost 0.94% as shares fell to R110.45 at noon.

    Permalink2010-07-15, 12:38:55, by Natalie Email , Leave a comment

    Tech stock rallies global markets on earnings data

    Local markets

    The JSE is gaining in line with a rally on global markets, at midday the All Share Index was 0.17% up, pressed on by resources stocks trading 0.22% higher. Investors are adopting a cautionary position however, as there is still some economic doubt about Europe’s recovery.

    The rand was firmer at midday, tracking a stronger euro. The local currency was trading 7.55 to U.S. Dollar. Strong U.S. earnings data is boosting investor confidence as U.S. retail sales data is expected to give further direction to the currency.

    Brent Crude Oil is trading at $75.57 a barrel at midday, holding a two-week high on the back of rallying global markets amid positive U.S. earnings data.

    International markets

    In the U.S. yesterday, Wall Street closed higher with The Dow Jones average gaining 1.44%, and the Nasdaq edging 1.99% higher. The U.S. markets advanced for the sixth consecutive day when better than expected earnings data from Intel sent technology stock surging.

    Japan's Nikkei share average climbed this morning, to close 2.71% higher. Asian shares climbed, amid broad-based gains led by the technology sector after investors embraced Intel's strongest quarterly results ever.

    In Hong Kong, the Hang Seng average gained 0.64% when positive earnings data lifted global markets. Investor sentiment about global economic recovery improved as Asian markets were lifted by a surge in technology stock.

    The FTSE 100 is trading 0.29% lower at midday SA time, with investor sentiment improved by forecast-beating results on Wall Street. Britain’s bourse is seeing banking shares loose ground offsetting technology sector gains.

    Share price news

    Diversified industrial company, Eqstra Holdings Limited (share code: EQS) gained 3.00% with shares climbing to R5.15 a share at 12:00, as investors traded 2 155 306 shares in 55 deals.

    Metorex Limited (MTX) saw its shares climb to R3.48 a share, showing a gain of 2.35%, as investors traded 1 030 544 shares in 140 deals.

    Telkom SA Limited (TKG) shares lost 2.00% to trade at R32.89 when 1296 deals saw investors trade 4 656 211 shares.

    As 19 deals totaling 703 920 shares, Syfrets And Commercial Union Property Fund (SYC) shares saw a loss of 2.00% as price fell to R22.05 at noon.

    Permalink2010-07-14, 13:02:09, by Carlos MENEZES Email , Leave a comment

    U.S. earnings data boosts optimistic sentiment.

    Local markets

    The JSE is steadier at midday, the All Share index is up 0.45% with investors showing caution ahead of U.S. second quarter earnings data. Resource shares have gained 0.74% by 12:00pm.

    South Africa's rand is steadied against the dollar at midday, trading at 7.57 to the U.S. currency. In light of very little local economic data to offer direction, the currency will look to international markets for guidance.

    Oil prices have improved trading $74.60 per barrel as traders showed concern over U.S. retail and corporate sectors data.

    International markets

    Yesterday the U.S. markets closed higher as quarterly reporting period began. The Dow Jones industrial average gained 0.18%, and the Nasdaq closed 0.09% higher. Investors’ anticipating a strong corporate reporting period has seen the U.S. markets gain more than 5% last week.

    The Nikkei share average edged 0.11% lower this morning, when Shanghai shares lost ground on China’s announcement of no plans to rein in real estate speculation, but falls were slowed by optimism for U.S. earnings data later in the day.

    In Hong Kong the Hang Seng lost 0.18% this morning, the Chinese GDP data, Agricultural Bank of China's trading debut and JPMorgan Chase's quarterly results, all expected later this week, is keeping trade bearish. Investors are however optimistic after a healthy start to the U.S. earnings season.

    The FTSE 100 is trading 1.36% higher at midday SA time, boosting gains as BP stock rallies on hopes a new cap on its well would halt the flow of oil and banks are higher on U.S. earnings optimism.

    Share price news

    Dimension Data Holdings Limited (share code: DDT) gained 2.08% when shares climbed to R11.27 a share at noon, as investors traded 2 783 629 shares in 215 deals.

    British American Tobacco P.L.C (BTI) saw its shares climb to R258.40 a share, showing a gain of 1.93%, as investors traded 453 052 shares in 411 deals.

    Losing ground in the metals & minerals sector was Sentula Mining Ltd (SNU), whose shares fell 4.44% to R2.15 after 21 deals saw the exchange of 433 299 shares.

    Wilson Bayly Holmes-ovcon Limited (WBO) shares lost 2.17% to trade at R108.51 when 37 deals saw investors trade 123 329 shares.

    Permalink2010-07-13, 12:36:07, by Natalie Email , Leave a comment

    U.S. earnings data to steer global markets

    Local markets

    A technical problem saw the JSE open late today to begin trading just before 11:00am. At midday the All Share Index was 0.60% lower, with investors showing caution ahead of U.S. and Asian economic data due but later in the week. Resource shares had weighed heavily on morning trade, losing 0.97%.

    The local currency was a fraction softer but still in range in midday trade, tracking a weaker euro. At midday the rand was trading at 7.59 to the U.S. dollar with a lack of economic data providing little direction for traders.

    Gold saw a strengthening in price, trading at $1205.05 a fine ounce at midday, with investors looking for bargains as the U.S. currency lost ground.

    International markets

    On the U.S. markets on Friday, the Dow Jones average gained 0.58%, with the Nasdaq closing 0.97% higher. U.S. stocks last week, saw their best gains since the beginning of 2010. Investors are optimistic as U.S. earnings data starts to trickle.

    The Nikkei edged lower this morning, losing 0.39%, as the Japan’s currency pared losses and exporter shares dipped, losing previous gains. Investors are also increasingly nervous about U.S. earnings data.

    In Hong Kong the Hang Seng Index closed 0.44% higher, with investors guarded over Chinese GDP data, Agricultural Bank of China’s first appearance on the bourse as well as JP Morgan Chase’s quarterly results, all expected later in the week.

    The FTSE saw modest gains, climbing 0.12% at midday SA time.Britain’s shares had gained, as positive hopes for containment of the oil spill in the Gulf of Mexico saw BP shares climb to offset disappointing data that saw mining shares decline.

    Share price news

    Diversified aviation group, 1time Holdings Limited (share code: 1TM) gained 3.88% with shares climbing to R1.07 a share at 12:00, a as investors traded 14 583 shares in 4 deals.

    African Bank Investments Limited (ABL) saw its shares climb to R32.15 a share, showing a gain of 1.13%, as investors traded 832 295 shares in 569 deals.

    Anglo American Plc (AGL) shares lost 1.79% to trade at R274.15 when 912 deals saw investors trade 984 503 shares.

    After 515 deals totaling 2 709 000 shares, Telkom SA Limited (TKG) lost 8.27% as shares fell to R 34.49 at noon.

    Permalink2010-07-12, 12:41:33, by Natalie Email , Leave a comment

    Global markets firm on positive economic data

    Local markets

    The JSE All Share index gained to trade 0.22% higher at midday in line with global markets, this comes as Asian and U.S. markets rallied on positive economic data and a better euro zone recovery outlook. Resource shares are trading 0.64% higher amid improved commodity prices.

    The local currency is firmer at midday, trading at 7.54 to its U.S. counterpart, as positive global sentiment sees improved risk taking among investors.

    Brent Crude Oil rose to trade at $74.61 a barrel, heading for its biggest weekly gain since May, after positive data showed U.S. demand growth and falling inventories.

    International markets

    In the U.S. yesterday, markets gained with the Dow Jones closing 1.20% higher and the Nasdaq following suit, gaining 0.74%. The markets advanced on improved earnings forecast that boosted financial shares, and with investors welcoming positive economic data that showed a better than expected drop in jobless claims and improved retail sales.

    Tokyo's Nikkei share average firmed this morning to close 0.52% higher, drawing its best weekly rise in seven months. Asian stocks rallied for a second day, edged on by positive U.S. economic data as well as the European Central Bank's optimistic view of the euro zone’s economic recovery.

    In Hong Kong, the Hang-Seng Index rallied to close 1.64% higher, tracking gains on Wall Street for the third consecutive day amid positive economic data and optimistic euro zone outlook.

    The FTSE 100 had fallen 0.05% by 12:00pm local time; Britain's bourse firmed consolidating gains seen in the previous three sessions, with mining shares lifting the market as fears over a double-dip recession faded improving investor sentiment.

    Share price news

    Natural resources company, BHP Billiton Plc (Share code: BIL) saw a rise of 1.03% to trade at R210.65 per share at midday when 578 746 shares were traded in 508 deals.

    Anglo American Plc (AGL) gained 0.50% in 1543 deals totaling 1 481 754 shares pushing the share price to R 278.39 a share.

    Cipla Medpro SA Limited (CMP), in the pharmaceuticals sector, fell 1.77% to R5.00 a share, after 61 deals exchanged 312 894 shares.

    After investors traded 596 092 shares in 34 deals, Allied Electronics Corporation Limited (ATN) lost 0.86% to sell at R23.05 a share at midday.

    Permalink2010-07-09, 12:19:26, by Carlos MENEZES Email , Leave a comment

    Global markets rally as earnings expectations boost Wall Street

    Local markets

    In midday trade, the JSE All-share Index was trading 0.46% higher, boosted by a stronger Wall Street. All sectors are trading higher with resource shares gaining 0.57%.

    The local currency firmed from its earlier levels, trading at R7.57 to the U.S. dollar, on the back of a stronger Dow Jones and better commodity prices.

    The oil price jumped to above a one-week high, trading at $73.67 a barrel at midday today. This comes as U.S. crude inventories plunged last week.

    International markets

    On U.S. markets yesterday, stocks logged their best one-day gain in six weeks. The Dow Jones finished 2.82% higher while the Nasdaq average climbed 3.13%. After positive financial forecasts, Wall Street rallied on investor confidence and optimistic sentiment about the forthcoming earnings season.

    Japan's Nikkei average jumped 2.76% this morning on bullish sentiment, as better than expected earnings forecasts from U.S. raised optimism, helping to calm investor’s fears of a slowdown in the global economy.

    The Hang Seng Index finished 1.11% higher, following gains made on Wall Street. Investors flocked to banking shares as the Agricultural Bank of China completed its IPO, adding liquidity back into the market.

    The FTSE 100 was up 1.08% at midday local time after improved appetite for risk pushed mining shares higher and favorable earnings forecasts out of the U.S. strengthened banking shares.

    Share price news

    Aspen Pharmacare Holdings (share code: APN) rose to R77.45 a share at 12:00, a gain of 1.24% as investors traded 709 257 shares in 768 deals.

    Furniture and household goods supplier, Steinhoff International Holdings Limited (SHF) shares rose 3.37% to sell at R18.11 a share, after 760 deals traded 3 449 763 shares.

    Northam Platinum Limited (NHM) fell 2.14% to trade at R43.53 a share, after 1 052 293 shares were exchanged in 485 deals.

    After 1510 deals totaling 1 605 215 shares, MTN Group Limited (MTN) lost 0.87% as shares fell to R106.56 at noon.

    Permalink2010-07-08, 12:30:49, by Carlos MENEZES Email , Leave a comment

    Rally fades as bearish sentiment returns to global markets

    Local markets

    The JSE All Share was 0.80% lower in midday trade, with resources trading 1.22% lower. The local market is following the global trend as invertors anxiety over the pace of global economic recovery returned.

    The local currency is trading at 7.68 to the U.S. Dollar, remaining range bound amid scarce economic data to prompt movement in either direction. The Rand had failed to firm against all major currencies on Tuesday.

    Brent Crude has fallen to $71.18 a barrel, reversing earlier gains, as prices correlate with global sentiment and traders await further data on U.S. inventories.

    International markets

    Yesterday on the U.S. markets, the Dow Jones ended the day 0.59% higher and the Nasdaq 0.10% higher. Wall Street rebounded, but strong buying interest diminished in the day as bearish sentiment returned. Slow trading is set to continue as investors adopt a wait-and-see approach to Chinese economic data due out next week.

    Japan's Nikkei average drifted down 0.63% this morning as shares of exporters that rose the previous day, gave back some gains.Heightened fears about a slowdown in the U.S. economy have worsened the bearish trend.

    In Hong Kong the Hang-Send finished 1.13% lower. As Tuesday’s rally lost ground in U.S. late trading, the Asian markets followed suit with investors withdrawing amid a return of pessimistic sentiment.

    The FTSE 100 is trading 1.40% lower at midday SA time, pushed lower by mining and banking shares. Britain’s bourse is tracking weaker global markets after U.S. data left sentiment bearish over the sustainability of the global economic recovery.

    Share price news

    Naspers Limited (share code: NPN) saw its shares climb to R268.29 a share, showing a gain of 1.53%, as investors traded 1 083 585 shares in 1367 deals.

    Pangbourne Properties Limited (PAP) in the Real Estate Holdings & Development  sector gained 0.84% with shares climbing to R18.00 a share at 12:00, as investors traded 411 411 shares in 28 deals.

    In 466 deals totaling 3 656 932 shares, luxury goods group Compagnie Fin Richemont (CFR) shares saw a loss of 1.62% as price dropped to R27.34 at noon.

    Exxaro Resources Limited (EXX) shares lost 1.81% to trade at R107.13 when 730 deals saw investors trade 217 094 shares.

    Permalink2010-07-07, 12:25:42, by Natalie Email , Leave a comment

    Optimistic Sentiment Amid Positive Asian Markets

    Local markets

    The JSE opened steadier this morning amid robust trading, at midday the All Share Index was 1.74% up pressed on by recovering resources stocks trading 2.55% higher. This comes as investors show positive sentiment on the back of stronger Asian markets. 

    The rand was firmer at midday, tracking a stronger euro. The local currency was trading 7.68 to its U.S. counterpart. The EUR/USD exchange remains the market indicator to watch for direction.

    Brent Crude Oil reversed earlier losses to trade at $72.17 a barrel at midday as the U.S. Dollar tumbled and Asian markets rebounded.

    International markets

    Yesterday the U.S. markets were closed amid a public holiday celebrating Independence Day. The Dow Jones average lost 0.47%, with the Nasdaq losing 0.46%, at its last close. Trading at next opening is expected to mirror the gains on European markets.

    Japan's Nikkei share average edged up this morning, to close 0.77% higher. As the yen's gains pulled back and as Chinese stocks rose, the benchmark trimmed its losses, closing up on the day.

    The Shanghai Composite Index closed 1.92% higher this morning, lifting other Asian markets of their lows. China's shares reversed earlier losses to trade higher, led by gains in property and bank stocks.

    The FTSE 100 is trading 1.74% higher at midday SA time, as investors see strength in bank and commodity stock, pulling Britain's top share index higher. Positive Asian markets are adding to optimistic economic recovery sentiment.

    Share price news

    Mr. Price Group Limited (share code: MPC) gained 3.07% with shares climbing to R47.41 a share at 12:00, as investors traded 1 358 435 shares in 547 deals.

    Old Mutual Plc (OML) saw its shares climb to R12.37 a share, showing a gain of 3.26%, as investors traded 3 400 147 shares in 416 deals.

    Pick N Pay Stores Limited (PIK) shares lost 1.67% to trade at R43.70 when 340 deals saw investors trade 302 936 shares.

    As 345 deals totaling 295 768 shares, Massmart Holdings Limited (MSM) shares saw a loss of 1.39% as price fell to R 120.68 at noon

    Permalink2010-07-06, 12:24:16, by Natalie Email , Leave a comment

    Global Markets Directionless Amid U.S. Public Holiday

    Local markets

    The JSE All Share today at midday was 0.40% lower, lacking any real direction amid U.S. public holiday, with resource shares losing 0.94% in morning trade.

    The Rand is lacking any clear direction, in the midst of a close of the U.S. markets for Independence Day today. The currency was trading in a narrow range and was at 7.73 to the U.S. dollar at midday.

    Oil was up in Asian trade on Monday as traders bought up bargain crude following a drop in prices last week. At midday brent crude was trading at $71.84 a barrel.

    International markets

    On the U.S. markets on Friday, the Dow Jones average lost 0.47%, with the Nasdaq losing 0.46%. U.S. stocks fell to close out their worst week in two months. The markets will be closed today for Independence Day, and the holiday is expected to diminish volume during the week.

    Japan’s Nikkei edged higher on Monday closing 0.69% higher. The market dismissed last week’s data that showed a loss of 125 000 jobs in the U.S in June and worsening of the unemployment rate to 9.5 percent.

    Asian shares were mixed this morning as weakness in Chinese equities and deal activity reflect on broader sentiment across the region. The Shanghai Composite Index finished 0.80% lower.

    The FTSE 100 was down 0.17% at midday SA time. Britain’s top shares declined early today as banking and mining shares dipped amid Pessimistic sentiment on the sustainability of the global economic recovery after disappointing U.S. job figures in the previous session.

    Share price news

    In the Clothing and Footwear sector, Compagnie Fin Richemont (share code: CFR) gained 1.99% with shares climbing to R27.15 a share at 12:00, a as investors traded 1 258 622 shares in 315 deals.

    Merafe Recourses Limited (MRF) saw its shares climb to R1.21 a share, showing a gain of 0.83%, as investors traded 1 463 885 shares in 74 deals.

    IT Software Solutions company Silverbridge Holdings Limited (SVB) shares lost 8.57% to trade at R1.60 when 8 deals saw 145 100 shares traded.

    After 12 deals totaling 222 440 shares, Sentula Mining Limited (SNU) lost 2.27% as shares fell to R 2.15 at noon, after changes to the board of directors announcement on Friday last week.

    Permalink2010-07-05, 12:53:56, by Natalie Email , Leave a comment

    Cautionary sentiment amid worse than expected economic data

    Local markets

    The JSE All Share today at midday stood 0.08% higher, buoyed by favorable news regarding the proposed Australian mining tax, which is pushing the resources shares, to trade 0.38% higher.

    The South African rand trading at 7.68 to the US dollar, firmed in morning play ahead of US economic data.

    Gold has gained to $1211.80, gaining 1.09%, as investors reacted to news regarding the proposed Australian mining tax.

    International markets

    On the US markets yesterday, the Dow Jones Industrial average lost 0.42%, with the Nasdaq losing 0.37%. Wall Street was once again on the slide, however stocks managed to trim bigger losses after worse than expected manufacturing, housing and labor market data fueled double-dip recession fears.

    Japan’s Nikkei average closed 0.13% up this morning, completing its worst week in over a month. The market managed a positive close amid irregular trade as concern about the strength of the global economic recovery, ahead of U.S. jobs data.

    Hong Kong’s, Hang Seng Index finished 1.11% lower. Asian markets retreated on weak U.S data, and Agricultural Bank of China's initial public offering, which is depleting liquidity out of the market.

    The FTSE 100 was up 0.33% at midday SA time, after seeing a 10 month low close yesterday. Sentiment remains cautionary as negative economic data from US, China and Britain still worries investors with fears of a double-dip recession.

    Share price news

    Electrical equipment manufacturer, Delta Emd Limited (share code: DTA) rose to R14.25 a share at 12:00, a gain of 4.40% as investors traded 103 120 shares in 9 deals.

    Merafe Recourses Limited (MRF) saw its shares climb to R1.21 a share, showing a gain of 3.41%, as investors traded 1 319 707 shares in 77 deals.

    Reinet Investments Sca (REI) shares lost 1.68% to trade at R11.10 when 287 deals saw investors trade 920 506 shares.

    After 109 deals totaling 152 067 shares, Medi-clinic Corporation Limited (MDC) in the Hospital Management sector lost 2.23% as shares fell to R25.85 at noon, after a Rights offer finalisation announcement earlier in the morning.

    Permalink2010-07-02, 15:25:28, by Carlos MENEZES Email , Leave a comment

    Cautionary sentiment amid worse than expected economic data

    Local markets

    The JSE All Share today at midday stood 0.08% higher, buoyed by favorable news regarding the proposed Australian mining tax, which is pushing the resources shares, to trade 0.38% higher.

    The South African rand trading at 7.68 to the US dollar, firmed in morning play ahead of US economic data.

    Gold has gained to $1211.80, gaining 1.09%, as investors reacted to news regarding the proposed Australian mining tax.

    International markets

    On the US markets yesterday, the Dow Jones Industrial average lost 0.42%, with the Nasdaq losing 0.37%. Wall Street was once again on the slide, however stocks managed to trim bigger losses after worse than expected manufacturing, housing and labor market data fueled double-dip recession fears.

    Japan’s Nikkei average closed 0.13% up this morning, completing its worst week in over a month. The market managed a positive close amid irregular trade as concern about the strength of the global economic recovery, ahead of U.S. jobs data.

    Hong Kong’s, Hang Seng Index finished 1.11% lower. Asian markets retreated on weak U.S data, and Agricultural Bank of China's initial public offering, which is depleting liquidity out of the market.

    The FTSE 100 was up 0.33% at midday SA time, after seeing a 10 month low close yesterday. Sentiment remains cautionary as negative economic data from US, China and Britain still worries investors with fears of a double-dip recession.

    Share price news

    Electrical equipment manufacturer, Delta Emd Limited (share code: DTA) rose to R14.25 a share at 12:00, a gain of 4.40% as investors traded 103 120 shares in 9 deals.

    Merafe Recourses Limited (MRF) saw its shares climb to R1.21 a share, showing a gain of 3.41%, as investors traded 1 319 707 shares in 77 deals.

    Reinet Investments Sca (REI) shares lost 1.68% to trade at R11.10 when 287 deals saw investors trade 920 506 shares.

    After 109 deals totaling 152 067 shares, Medi-clinic Corporation Limited (MDC) in the Hospital Management sector lost 2.23% as shares fell to R25.85 at noon, after a Rights offer finalisation announcement earlier in the morning.

    Permalink2010-07-02, 12:53:25, by Natalie Email , Leave a comment

    Global sentiment negative as poor economic data expected

    Local markets

    At midday on Thursday, the JSE All Share had slipped 0.7% led by losses in gold mining and resource shares, as investors warily awaited economic data due to be released later.

    The rand was trading at R7.73 to the US dollar at noon, losing ground against the American counterpart due to negative global sentiment.

    Gold cost $1 240.42 a fine ounce, sliding 0.16% at 12:00 after a recent rally, but analysts expect gold sales to pick up as investors become more risk averse.

    International markets

    The Dow Jones fell 0.98% yesterday, while the Nasdaq lost 1.21% in another day of low volume trade, as investors became increasingly nervous after confusing economic data.

    In Japan, the Nikkei tumbled 2.04% this morning, despite the Bank of Japan's quarterly tankan survey showing positive sentiment amongst large manufacturers due to strong export results.

    Hong Kong markets were closed for public holiday today.

    Britain’s FTSE 100 had fallen 1.24% by noon Johannesburg time, with losses in bank and commodity shares weighing. Risk appetite was on the decline after news of China’s slowing economy.

    Share price news

    In the food retail sector, Pick N Pay Stores Limited (share code: PIK) soared 3.09% to sell at R44.74 a share, after 1 092 deals traded 1 250 917 shares. Pick N Pay announced the sale of the Interfrank Group this morning.

    Firstrand Limited (FSR) climbed 1.33% to R18.30 a share at midday, after investors exchanged 3 855 055 shares in 872 deals.

    Engineering firm Invicta Holdings Limited (IVT) saw a 2.97% drop as share prices fell to R30.08, after 1 489 shares were traded in 2 deals this morning.

    After 141 deals exchanged 774 476 shares, Metorex Limited (MTX) in the metals and minerals sector lost 2.73% as the share price fell to R3.21.

    Permalink2010-07-01, 13:11:01, by Natalie Email , Leave a comment