XML Feeds

What is RSS?

Categories

Top Rated

    Negative sentiment sees global markets fall

    Local markets

    At midday on Tuesday, losses in resource shares had led the JSE All Share down 0.96%. The local bourse also responded to negative sentiment on global markets, which were down on concerns about the economic outlook.

    The rand was trading at R7.38 to the US greenback, weakening slightly as it followed movements of the euro.

    Despite an increase in consumer spending data from the US, oil continued to lose ground, falling below $74 a barrel midmorning.

    International markets

    Yesterday saw US markets fall in the year's lightest volume after investors continued to worry about the pace of economic recovery, in spite of data showing an increase in consumer spending and income. The Dow Jones lost 1.39% while the Nasdaq fell 1.56%.

    The Japanese Nikkei index closed 3.55% lower this morning, with sellers getting out of the market after the Bank of Japan’s efforts failed to slow the strengthening yen.

    China's Shanghai index lost 0.52% led by losses in financial and real-estate shares, after anxiety over rising domestic inflation and the government’s latest promise of property tightening measures.

    Britain’s FTSE 100 had given up 0.92% led by falls in banks and commodity stocks as investors continued to fret over the sustainability of global economic recovery.

    Share price news

    Top mover up at midday was IPSA Group Limited (share code: IPS), whose shares rose 11.83% to R1.04, after 6 677 shares were exchanged in 2 deals.

    Ellies Holdings Limited (ELI) rose to R1.59 a share, a gain of 8.90% after 6 deals traded 87 955 shares.

    Amongst the top movers downwards was Coal of Africa Limited (CZA), selling at R9 a share after 37 659 shares were exchanged in 19 deals, resulting in a share price loss of 5.26%.

    Gold One International Limited (GDO) fell 5.13% to sell at R1.85 a share, after investors sold 132 000 shares in 3 deals by midday.

    Permalink2010-08-31, 12:33:00, by Natalie Email , Leave a comment

    Markets gain after positive comments from Bernanke on Friday

    Local markets

    At noon on Monday, basic materials and resource shares had led the JSE All Share up 1.61%, following US and Asian markets higher after positive comments from Fed Reserve Chairman Ben Bernanke on Friday.

    The rand dipped marginally to R7.29 against the US dollar at midday, after concern that the public service strike might spread to the private sector.

    Gold cost $1 234.80 an ounce, down 0.18% despite earlier gains. Investors were awaiting the outcome of important US employment reports for signs of economic health.

    International markets

    On Friday, both the Dow Jones and the Nasdaq climbed 1.65% after fairly optimistic comments from US Federal Reserve Chairman Ben Bernanke.

    In Japan, the Nikkei average closed higher by 1.76% this morning, though pared earlier gains after a disappointing Bank of Japan decision.

    News of mergers and acquisitions boosted European markets this morning, sending the CAC40 edging up by 0.09% and the German DAX higher by 0.17% around midday.

    The British FTSE 100 was closed today for a bank holiday.

    Share price news

    In the computer hardware sector, Pinnacle Technology Holdings Limted (PNC) rose 5.87% to R4.87 a share, after 1 253 977 shares were sold in 43 deals. This morning, Pinnacle reported an increase in earnings per share of between 35% and 40% since their last 12-month statement.

    Retailer Truworths International Limited (TRU) gained 3% after shares rose to R57.60 each at noon, after investors exchanged 665 117 shares in 460 deals.

    Losing 4.17% was construction firm Esorfranki Limited (ESR), whose shares fell to R2.30 each after 25 deals traded 167 942 shares.

    Gold One International Limited (GDO) lost 3.55% after 163509 shares were exchanged in 19 deals, sending the share price sliding to R1.90 at midday.

    Permalink2010-08-30, 12:59:23, by Natalie Email , Leave a comment

    Markets gain after positive comments from Bernanke on Friday

    Local markets

    At noon on Monday, basic materials and resource shares had led the JSE All Share up 1.61%, following US and Asian markets higher after positive comments from Fed Reserve Chairman Ben Bernanke on Friday.

    The rand dipped marginally to R7.29 against the US dollar at midday, after concern that the public service strike might spread to the private sector.

    Gold cost $1 234.80 an ounce, down 0.18% despite earlier gains. Investors were awaiting the outcome of important US employment reports for signs of economic health.

    International markets

    On Friday, both the Dow Jones and the Nasdaq climbed 1.65% after fairly optimistic comments from US Federal Reserve Chairman Ben Bernanke.

    In Japan, the Nikkei average closed higher by 1.76% this morning, though pared earlier gains after a disappointing Bank of Japan decision.

    News of mergers and acquisitions boosted European markets this morning, sending the CAC40 edging up by 0.09% and the German DAX higher by 0.17% around midday.

    The British FTSE 100 was closed today for a bank holiday.

    Share price news

    In the computer hardware sector, Pinnacle Technology Holdings Limted (PNC) rose 5.87% to R4.87 a share, after 1 253 977 shares were sold in 43 deals. This morning, Pinnacle reported an increase in earnings per share of between 35% and 40% since their last 12-month statement.

    Retailer Truworths International Limited (TRU) gained 3% after shares rose to R57.60 each at noon, after investors exchanged 665 117 shares in 460 deals.

    Losing 4.17% was construction firm Esorfranki Limited (ESR), whose shares fell to R2.30 each after 25 deals traded 167 942 shares.

    Gold One International Limited (GDO) lost 3.55% after 163509 shares were exchanged in 19 deals, sending the share price sliding to R1.90 at midday.

    Permalink2010-08-30, 12:43:18, by Natalie Email , Leave a comment

    Global markets lose ground ahead of Bernanke’s speech

    Local markets

    At midday on Friday, the JSE All Share had lost 0.63% with losses across the board led by falling resource shares. The local bourse lacked direction and investors continued to worry about global economic recovery.

    The rand had weakened by 0.95% and was trading at R7.35 to the US dollar at noon.

    Gold had fallen 0.09%% to $1 235.60 at midday, as investors awaited US Federal Reserve chairman Ben Bernanke’s speech later today, and expected the release of a lower revised second-quarter economic growth figure.

    International markets

    Yesterday, the Dow closed 0.74% down, while losses in tech shares sent the Nasdaq falling 1.07% ahead of an expected downward revision in US economic growth for the second quarter.

    The Japanese Nikkei average finished higher by 0.95% this morning, after investors sold super-long Japanese debt to buy shares, and on hopes for government action to ease the strong yen.

    Germany’s DAX had slipped 0.03% while France’s CAC40 had fallen 0.36% by midday in SA, heading towards a third week of losses. Investors continued to fret about the pace of economic recovery after gloomy economic data.

    Britain's FTSE 100 slid 0.16% by noon, as investors waited for the second release of second-quarter UK GDP, and Ben Bernanke’s speech later today.

    Share price news

    Retailer Massmart Holdings Limited (share code: MSM) rose to R121.65 a share at midday, a gain of 3.75% after 836 542 shares were traded in 2472 deals.

    Esorfranki Limited (ESR) gained 2.13% to sell at R2.40 a share, after investors exchanged 112 154 shares in 34 deals.

    Impala Platinum Holdings Limited (IMP) fell to R172 a share, a loss of 2.82% after 1 230 deals exchanged 807 725 shares by noon.

    After 699 deals totaling 721130 shares, African Bank Investments Limited (ABL) dipped to R30.76 a share, a loss of 2.26%.

    Permalink2010-08-27, 12:36:01, by Natalie Email , Leave a comment

    JSE recovers 0.82% at noon as global markets rebound

    Local markets

    Thursday midday saw the JSE All Share recovering 0.82% after yesterday’s losses, with resources leading gains as investors sought bargains.

    At noon, the rand was relatively unmoved, trading at R7.28 to the US dollar while the euro and dollar rebounded.

    Oil was selling at $73.69 a barrel, gaining 2.45% after it reached 11-week lows. Analysts said the underlying outlook was still bearish with sufficient stocks to cover any surge in demand.

    International markets

    On US markets yesterday, the Dow Jones edged up 0.20% while the Nasdag gained 0.84%, recovering after recent economic data triggered losses, as key technical support encouraged bargain-hunting.

    Japan’s Nikkei average rose 0.69% this morning, ending a four-day losing streak after short-covering and a slight technical rebound.

    Hong Kong's Hang Seng closed 0.11% lower, after China Life Insurance tumbled a day after it reported better-than-expected growth, as Citigroup and Credit Suisse cut the company's price targets.

    Britain’s FTSE 100 had recovered 0.67% by midday after yesterday’s losses, on gains in mining stocks after the release of Kazakhmys's first-half results.

    Share price news

    Old Mutual PLC (share code: OML) rose 0.64% after 1 123 deals exchanged 4 756 415 shares, which saw the share price climb to R14.09 at midday.

    After 1 983 465 shares were sold in 2 135 deals, MTN Group Limited (MTN) gained 1.91% as share prices increased to R119.23.

    In the real estate sector, Fortress Income Fund Limited (FFA) fell 1.77% to R11.10 a share at noon, after 55 deals traded 7 000 000 shares.

    Firstrand Limited (FSR) lost 0.16% after 1 397 deals totaling 3 365 705 shares, which saw the share price slide to R18.55.

    Permalink2010-08-26, 12:21:28, by Natalie Email , Leave a comment

    Poor US housing data feeds concern over health of economic recovery

    Local markets

    On Wednesday at midday, the JSE All Share had fallen 0.71%, as losses across the board came on renewed fears for continued global economic recovery. The oil and gas index led the downwards trend, sliding 1.10% by noon.

    The rand was trading at R7.35 to the US dollar, strengthening marginally but remaining within a range amidst uncertainty and fears of a double dip recession.

    Gold rose 0.57% to sell at $1236.15 an ounce at 12:00, after weak data from the United States increased concern over the health of the global economy.

    International markets

    A surprisingly large fall in US home sales saw equities hit their lowest level in seven weeks yesterday. The Dow Jones slid 1.32% while the Nasdaq lost 1.66%.

    The Japanese Nikkei index closed 1.66% lower this morning, after disappointment at the lack of Japanese policy response to ease the strong yen.

    Hong Kong’s Hang Seng slid 0.11% in another session of losses after weak US housing data spurred selling of risky assets.

    Britain's FTSE 100 had given up 0.40% by noon Johannesburg time, despite upbeat corporate results, as caution prevailed following Standard & Poor's downgrade of Ireland's credit ratings.

    Share price news

    Diversified industrial Eqstra Holdings Limited (share code: EQS) was amongst the top movers at midday, gaining 1.89% as shares rose to R5.40. Investors traded 167 944 shares in 15 deals.

    Telkom SA Limited (TKG) rose 1.95% to R34.06 a share, after 275 deals traded 305 354 shares.

    In the construction sector, Basil Read Holdings Limited (BSR) fell 5.45% to R11.10 a share, after investors exchanged 122 719 shares in 103 deals.

    After 624 deals, investors traded 380 116 shares in Naspers Limited (NPN), sending the share price down 2.01% to R287.50 at midday.

    Permalink2010-08-25, 12:11:08, by Natalie Email , Leave a comment

    JSE tracks global markets lower

    Local markets

    The JSE All Share followed gloomy international markets lower, losing 1.18% by midday on Tuesday. Leading losses were resources and basic materials shares.

    The rand fell to trade at R7.40 to the US dollar at noon, before the release of GDP data which might spur another interest rate cut.

    Gold cost $1 217 an ounce, sliding 0.67% after weaker equity markets prompted speculators to sell bullion to offset their losses.

    International markets

    The Dow Jones fell 0.38% and the Nasdaq gave up 0.92% yesterday on US markets in light trade. Tech shares lost ground after news of a possible bidding war between Hewlett-Packard and Dell over data storage company 3PAR.

    The Japanese Nikkei average closed 1.33% lower this morning on increasing worry that authorities' inaction on a strong yen will threaten a vulnerable economic recovery.

    France’s CAC40 had lost 1.39% by midday, while the German DAX had slipped 1.01% following losses on US markets and oils, miners and bank shares fell.

    Britain's FTSE 100 had fallen 1.17% on concern over the health of the global economic recovery, which offset gains from recent mergers and acquisitions.

    Share price news

    Blue Label Telecoms Limited (share code: BLU) rose to R4.30 a share at noon, a 1.90% gain after investors traded 250 306 shares in 95 deals. The company published their audited results this morning, reporting an 11% increase in revenue.

    Food and drug retailer Shoprite Holdings Limited (SHP) rose 0.96% to R83.11 a share, after 777 810 shares were traded in 793 deals. Shoprite also released their results this morning, reporting an increase of 15.6% in diluted headline earnings per share.

    In the metals and minerals sector, Merafe Resources Limited (MRF) fell to R1.28 a share, a loss of 3.03% after 1 134 383 shares were exchanged in 88 deals.

    After just 15 deals totaling 253 000 shares, Gold One International Limited (GDO) slid 2.58% to R1.89 a share at noon.

    Permalink2010-08-24, 12:20:43, by Natalie Email , Leave a comment

    JSE rises on potential acquisition of Nedbank by HSBC

    Local markets

    Monday midday saw the JSE All Share up 0.81%, led by gains in basic materials shares, and boosted by news that HSBC Holdings PLC had offered to acquire a controlling shareholding in Nedbank Group from Old Mutual.

    The rand strengthened to R7.29 to the US dollar at noon, as sentiment improved in response to local news about Nedbank and Old Mutual.

    Oil rose 1.42% to sell at $74.04 a barrel, but further gains were limited by weak economic indicators and increasing risk aversion.

    International markets

    On US markets on Friday, the Dow Jones lost 0.56% while the Nasdaq edged up 0.04% as investors continued to worry that the global economic recovery has dimmed.

    Japan’s Nikkei average closed 0.68% lower this morning, reaching a nine-month closing low after selling of hedge funds and concern over the impact of the strong yen.

    Hong Kong’s Hang Seng finished 0.44% down after positive corporate results were offset by investor worry about the pace of global economic recovery.

    Britain’s FTSE 100 had gained 0.47% by midday, as rising mining shares offset losses in energy stocks, after an inconclusive election in Australia made the dismissal of a proposed punitive mining tax more likely.

    Share price news

    Insurance brokers Glenrand MIB Limited (share code: GMB) rose 22.68% to sell at R1.19 a share at noon, after investors exchanged 503 928 shares in 9 deals.

    Nedbank Group Limited (NED) climbed 6.72% to R139.91 a share after HSBC made an offer for a controlling stake to current holder Old Mutual. By midday, investors had traded 3 439 754 shares in 2 481 deals.

    After 6 deals sold 32 700 shares, specialized consumer services company Advtech Limited (ADH) fell 4.10% to R5.61 a share. Advtech announced this morning that headline earnings per share were down 7% for the six months ended 30 June 2010.

    Real estate firm Redefine Properties Limited (RDF) lost 1.57% after 135 deals traded 2 247 547 shares, leaving the share price down at R7.52 at 12:00.

    Permalink2010-08-23, 12:32:50, by Natalie Email , Leave a comment

    Global markets sink after gloomy economic data

    Local markets

    Just after midday on Friday, the JSE All Share was 0.70% down with losses almost across the board, led by industrial stocks. Investors were anxious after the release of a stream of disappointing global economic data.

    The rand was selling at R7.33 to the US dollar, a fraction firmer as it looked to the euro for direction.

    Gold cost $1 230.45 an ounce at noon, down 0.15% despite overnight gains as the precious metal ramped up its appeal as a safe-haven asset after worrying economic data.

    International markets

    US markets took a blow yesterday after economic data indicated that the economy was indeed slowing. The Dow Jones finished 1.39% lower, while the Nasdaq ended 1.66% down.

    Japan’s Nikkei slid 1.96% in response to poor economic data from the US, as well as fears of how the Japanese government might react to the recent strengthening of the yen.

    In China, the Shanghai index closed 1.70% lower after Beijing announced measures to restrict property, including a crackdown on land hoarding and misuse by developers.

    In Britain, the FTSE 100 had lost 0.48% by noon SA time, after speculative gains in BG Group were offset by losses in mining shares.

    Share price news

    In the metals and minerals sector, BHP Billiton PLC (BIL) rose 0.17% to sell at R206.50 a share at 12:10, as investors exchanged 1 459 310 shares in 1 108 deals.

    After 13 deals totaling 708 153 shares, Capital Property Fund inched up 0.12% to trade at R8.11 a share.

    Old Mutual PLC (OML) fell 1.15% to R13.78 just after midday, as investors sold 3 668 193 shares in 621 deals.

    In the wireless telecom services sector, MTN Group Limited (MTN) lost 0.41% as share prices fell to R118.51, after 2276 deals traded 3 450 462 shares.

    Permalink2010-08-20, 12:44:23, by Natalie Email , Leave a comment

    JSE rebounds from yesterday’s oversold position

    Local markets

    The JSE All Share had edged up 0.51% by noon on Thursday, rebounding after yesterday’s overselling as international equities improved. Investors were keeping their eyes and ears out for the weekly US jobless claims and British retail sales due this afternoon.

    The rand was exchanging at $7.24 to the US dollar at midday, following movements on the euro.

    Oil cost $76.16 a barrel, an increase of 1.55% despite concern for possible slowing of the US economy which could dampen demand for crude.

    International markets

    US markets gained yesterday as the Dow Jones inched up 0.09% and the Nasdaq rose 0.28%, after consumer stocks strengthened on a sales forecast from Target, which temporarily dispelled worries over consumer demand.

    Japan's Nikkei index closed 1.32% higher after short-covering and bargain hunting, but the stronger yen limited further gains.

    China’s Shanghai index rose 0.81% while Hong Kong’s Hang Seng finished 0.24% higher as Asian markets gained despite a general lack of direction from global markets.

    Britain's FTSE 100 had lost 0.22% by midday, after bank shares gave up ground after uncertainty regarding global economic recovery, and oil shares also fell.

    Share price news

    In the forestry sector, York Timber Holdings Limited (share code: YRK) rose 3.01% to R3.42 a share, after 2 085 709 shares were sold in 4 deals.

    Compagnie Fin Richemont (CFR) in the clothing and footwear sector gained 2.75% after 571 deals totaling 5 120 674 shares, which saw the share price rise to R29.12 at noon.

    After 91 456 share were traded in 23 deal, Hospitality Property Fund B (HPB) fell 2.09% to R11.25 a share.

    Vodacom Group Limited (VOD) fell to R60.19 a share at 12:00, losing 1.62% after investors exchanged 611 467 shares in 605 deals.

    Permalink2010-08-19, 12:33:23, by Natalie Email , Leave a comment

    Losses in gold miners lead JSE down

    Local markets

    At noon on Wednesday, losses across the board led by gold mining shares saw the JSE All Share fall 0.55%. Lower global markets inspired caution amongst local investors.

    The rand was selling at R7.24 to the US dollar, remaining range bound before the release of June retail sales data.

    Gold cost $1223 an ounce at midday, losing 0.12% on continued concerns about the health of the global economic recovery.


    International markets

    After Wal-Mart and Home Depot announced positive earnings, boosting investor confidence, the Dow Jones rose 1.01% and the Nasdaq climbed 1.26% on US markets yesterday.

    Japan’s Nikkei closed 0.86% higher this morning, as investors sought bargains after the index slumped to an eight-month closing low the previous session.

    Hong Kong’s Hang Seng lost 0.54%, as profit taking offset earlier gains driven by a government land auction of two prime sites.

    Britain's FTSE 100 had fallen 0.54% by noon SA time, as losses in bank shares came on continuing worry about global recovery, and energy and mining shares followed lower commodity prices.

    Share price news

    Builders merchants Marshall Monteagle (share code: MTE) gained 9.04% by noon as shares rose to R10.25, after traders exchanged 140 000 shares in 2 deals.

    Rising 1.79% to R2.85 a share at midday was ARB Holdings Limiited (ARH) in the electrical equipment sector, after 8 deals traded 110 500 shares.

    In the hospital management sector, Litha Healthcare Group Limited (LHG) fell 2.61% to sell at R1.12 a share, after 5 deals sold 39 893 shares.

    RMB Holdings Limited (RMH) lost 2.16% after 478 deals totaling 471 561 shares, which saw the share price fall to R31.73 at 12:00.

    Permalink2010-08-18, 12:23:13, by Natalie Email , Leave a comment

    JSE edges up, awaiting direction from global markets

    Local markets

    At noon on Tuesday, the JSE All Share had risen 0.58% after gains in basic materials and resources boosted the local bourse.

    The rand was trading at R7.23 to the US dollar at 12:00, remaining within a range after yesterday’s rally.

    The Brent crude oil price rose 2.86% to $76.12 a barrel at midday, though further gains were limited by concern over signs of a slowing global economic recovery.

    International markets

    Yesterday, the Dow Jones dipped 0.01% at its close, while the Nasdaq gained 0.39% as US stocks managed to recover after initial losses.

    Japan’s Nikkei average fell 0.38% this morning, hitting its lowest close in over eight months as investors’ appetite for risk dimmed after poor economic growth data.

    China's Shanghai index climbed 0.38%, bringing the recent rally into its fourth session, with gains in property developer shares.

    Britain's FTSE 100 had risen 0.77% by midday, after gains in British Airways, which came after BAA and the Unite union closed a deal to halt a ground staff strike.

    Share price news

    Jubilee Platinum PLC (JBL) rose to R3.20 a share at midday, a gain of 4.58% after 339 245 shares were traded in 14 deals.

    In the building and construction materials sector, Mazor Group Limited (MZR) sold for R1.85 a share at 12:00, a 3.35% increase as 147 346 shares were exchanged in 8 deals.

    Losing 2.29% was Gold One International Limited (GDO) whose shares fell to R1.71 each after 95 255 shares were traded in 7 deals this morning.

    In the same sector, Harmony Gold Mining Company Limited (HAR) dropped 1.49% after 727 deals exchanged 887 529 shares, sending the share price sliding to R76.20 at noon.

    Permalink2010-08-17, 12:33:48, by Natalie Email , Leave a comment

    All Share slips 0.15% by midday

    Local markets

    Only oil, gas and resource shares were in the black at midday on Monday, as the JSE All Share slipped 0.15% despite some bargain hunting earlier in the day.

    The rand was trading quietly at R7.30 to the US dollar at noon, remaining within a range.

    Gold cost $1222.50 an ounce at 12:00, rising 0.69% as its safe haven appeal grew on news of disappointing economic data from Japan, which revived concern about global economic recovery.

    International markets

    On US markets on Friday, the Dow Jones lost 0.16% while the tech-heavy Nasdaq slumped 0.77% after poor economic data spurred selling.

    Japan’s Nikkei average closed 0.61% lower this morning, after news that the Japanese economy slowed sharply between April and June compared to the previous two quarters.

    China's Shanghai index rose 2.11% to reach its highest close in a week, with gains in healthcare and bank shares leading the upward trend.

    Britain's FTSE 100 was 0.23% lower at midday, despite earlier gains in commodity stocks that came after Vedanta Resources moved for a controlling stake in Cairn India.

    Share price news

    In the electrical equipment sector, ARB Holdings Limited (ARH) rose to R2.80 a share at midday, an increase of 6.87% after investors traded 530 930 shares in 55 deals.

    After 131 deals exchanged 601 275 shares, Cipla Medpro SA Limited (CMP) climbed to R5.99 a share, a gain of 4.17%. Cipla released a trading statement this morning announcing that headline earnings per share were expected to be between 50% and 60% higher this period.

    Mvelaphanda Group Limited (MVG) fell 43.81% to R4.90 a share, after 1 020 654 shares were traded in 113 deals.

    Diversified industrial Remgro Limited (REM) fell to R95.63 a share, a loss of 2.96% after investors exchanged 112 770 shares in 288 deals.

    Permalink2010-08-16, 12:27:51, by Natalie Email , Leave a comment

    Losses in gold miners lead JSE down at midday

    Local markets

    Gold mining shares had tumbled 1.49% by midday on Thursday, leading the JSE All Share down by 0.60%, with losses across the board.

    The rand remained steady at overnight levels, trading at R7.30 to the US dollar despite the strength of the American currency.

    Gold rose 0.52% to sell at $1203.75 an ounce at noon on bargain hunting after yesterday’s retreat, though a firmer dollar is likely to limit gains.

    International markets

    Yesterday, the Dow Jones fell 2.49% and the Nasdaq gave up 3.01% as investors sold off equities and exchanged them for government bonds on worries of a slowing global economic recovery.

    Japan’s Nikkei index lost 0.86% this morning, reaching its lowest level in just over a year after the US dollar fell to its weakest in 15 years against the yen.

    Hong Kong’s Hang Seng slid 0.89% as investors’ risk appetite continued to decline after increasing concerns about a weakening global economic recovery.

    Britain's FTSE 100 had inched up 0.07% by 12:00 SA time after gains in mining shares offset losses in banks and energy stocks.

    Share price news

    Eqstra Holdings Limited (share code: EQS) in the diversified industrials sector rose 3.45% to R5.40 a share at midday, as investors traded 417 710 shares in 32 deals.

    Gaining 1.58% by noon was SABMiller PLC (SAB) after 1 292 673 shares were exchanged in 509 deals, sending the share price up to R216.50.

    In the platinum sector, Wesizwe Platinum Limited (WEZ) lost 6.32% after 77 548 shares were traded in 12 deals. Share prices fell to R1.63.

    Litha Healthcare Group Limited (LHG) fell 2.54% to R1.15 a share, after 6 deals saw the sale of 609 269 shares by 12:00.

    Permalink2010-08-12, 12:13:29, by Natalie Email , Leave a comment

    US Fed’s pessimism seeps into global markets

    Local markets

    The JSE All Share had lost 0.44% by noon on Wednesday, with losses in basic materials and resource shares leading the local bourse downwards.

    The rand had weakened to an exchange rate of R7.28 to the US dollar at 12:00, as investors became increasingly concerned about a slowing global economic recovery, which diminished risk appetite.

    Oil cost $78.60 a barrel, recovering 0.77% though remaining below $80 after news of higher US crude imports and lower refinery operating rates dampened confidence.

    International markets

    After the US Federal Reserve’s pessimistic assessment of the economy yesterday, the Dow Jones ended 0.51% lower while the Nasdaq closed 1.24% down.

    Japan’s Nikkei average fell 2.70% after a thin session this morning, as a stronger yen added to concern over the longer-term future of Japan's economy.

    China’s Shanghai index rose 0.47% though elsewhere in Asia markets reacted negatively to confirmation by the US Federal Reserve about the poor health of economic recovery. The Hang Seng lost 0.83% as falling technology shares also weighed.

    Britain's FTSE 100 had fallen 1.47% by midday, led by losses in bank and commodity shares after the US Federal Reserve’s plans to bolster its economy failed to inspire.

    Share price news

    After 758 deals, investors traded 550 253 shares of Harmony Gold Mining Company Limited (share code: HAR), which saw the share price rise 2.37% to R78.62 at noon.

    Gold Fields Limited (GFI) climbed 1.83% to sell at R103.10 a share, after 516 deals exchanged 465 663 shares.

    Losing 4.92% by midday was New Europe Property Investments PLC (NEP), whose shares fell to R29 after 497 428 shares were traded in 45 deals.

    Anglo American PLC (AGL) once again made the list of top movers down today, as shares fell 2.17% to R275.20 after investors exchanged 3 190 010 shares in 2946 deals.

    Permalink2010-08-11, 12:34:11, by Natalie Email , Leave a comment

    US Fed’s pessimism seeps into global markets

    Local markets

    The JSE All Share had lost 0.44% by noon on Wednesday, with losses in basic materials and resource shares leading the local bourse downwards.

    The rand had weakened to an exchange rate of R7.28 to the US dollar at 12:00, as investors became increasingly concerned about a slowing global economic recovery, which diminished risk appetite.

    Oil cost $78.60 a barrel, recovering 0.77% though remaining below $80 after news of higher US crude imports and lower refinery operating rates dampened confidence.

    International markets

    After the US Federal Reserve’s pessimistic assessment of the economy yesterday, the Dow Jones ended 0.51% lower while the Nasdaq closed 1.24% down.

    Japan’s Nikkei average fell 2.70% after a thin session this morning, as a stronger yen added to concern over the longer-term future of Japan's economy.

    China’s Shanghai index rose 0.47% though elsewhere in Asia markets reacted negatively to confirmation by the US Federal Reserve about the poor health of economic recovery. The Hang Seng lost 0.83% as falling technology shares also weighed.

    Britain's FTSE 100 had fallen 1.47% by midday, led by losses in bank and commodity shares after the US Federal Reserve’s plans to bolster its economy failed to inspire.

    Share price news

    After 758 deals, investors traded 550 253 shares of Harmony Gold Mining Company Limited (share code: HAR), which saw the share price rise 2.37% to R78.62 at noon.

    Gold Fields Limited (GFI) climbed 1.83% to sell at R103.10 a share, after 516 deals exchanged 465 663 shares.

    Losing 4.92% by midday was New Europe Property Investments PLC (NEP), whose shares fell to R29 after 497 428 shares were traded in 45 deals.

    Anglo American PLC (AGL) once again made the list of top movers down today, as shares fell 2.17% to R275.20 after investors exchanged 3 190 010 shares in 2946 deals.

    Permalink2010-08-11, 12:33:56, by Natalie Email , Leave a comment

    Markets fall ahead of US Federal Reserve monetary policy meeting

    Local markets

    On Tuesday at midday, the JSE All Share had fallen 0.34% with resource shares leading losses, ahead of the US Federal Reserve's latest policy statement due this afternoon.

    The rand was trading at R7.24 to the US dollar at noon, slipping after reaching 30-month highs overnight, on worries that a strike by public employees might end in violence.

    Gold cost $1195.90 an ounce at 12:00, retreating 0.39% on uncertainty ahead of the US Federal Reserve’s monetary policy meeting later.

    International markets

    The Dow Jones rose 0.42% while the Nasdaq climbed 0.75% yesterday on expectations that the US Federal Reserve would announce further steps to boost the sluggish economic recovery.

    The Japanese Nikkei average ended 0.22% lower this morning, after the Bank of Japan did not adjust interest rates as hoped.

    In China, the Shanghai index fell 2.37%, weighing on Asian markets, after poor import data for July fueled concern that consumption demand was weakening.

    Britain’s FTSE 100 had slipped 0.60% by midday in response to falling risk appetite. Losses in commodity and bank shares led the index downwards.

    Share price news

    Business support service company Mvelaphanda Group Limited (share code: MVG) saw the exchange on 177 873 shares in 15 deals by noon, raising the share price 2.69% to R8.79.

    Old Mutual PLC (OML) rose 1.83% to R14.50 a share, after investors traded 2 517 421 shares in 699 deals.

    In the metals and minerals sector, Merafe Resources Limited (MRF) fell 2.84% after 71 deals exchanged 660 181 shares, which saw the share price slide to R1.37.

    Anglo American PLC (AGL) saw share prices dive 1.69% to sell at R285.50 each, after 1862556 shares were sold in 1 572 deals by noon.
    Anglo American announced a share incentive plan this morning, under which Anglo employees would be able to buy ordinary shares in the company via monthly salary deductions.

    Permalink2010-08-10, 12:14:36, by Natalie Email , Leave a comment

    Small gains on JSE ahead of US non-farm payrolls data

    Local markets

    By midday on Friday, the JSE All Share had edged up 0.20% with gains in oil, gas and resource shares leading the upward trend.

    The rand was selling at R7.24 to the US dollar, remaining relatively unchanged before the announcement of US non-farm payrolls data this afternoon.

    Oil cost $80.81 a barrel, down 1.45% after US employment data showed an increase in jobless claims, leading to concern over the strength of the US economy.

    International markets

    Yesterday, discouraging news about increasing unemployment in the US saw the Dow Jones dip 0.14% while the Nasdaq lost 0.46% by its close.

    The Japanese Nikkei index closed 0.12% lower this morning, after higher than expected US jobless claims signalled a weak global economy.

    Hong Kong’s Hang Seng rose 0.59% despite expectations of profit taking by analysts and bank losses after recent tightening up of mortgage rules.

    Britain's FTSE 100 had gained 0.31% by midday, recovering after losses over the last three days, as banks and commodity shares rallied.

    Share price news

    Sovereign Food Investments Limited (share code: SOV) rose 10.58% to R5.75 a share, after 1 007 798 shares were exchanged in 4 deals.

    After a flurry of news, Old Mutual PLC (OML) gained 2.11% this morning. Shares rose to R14.53 each after investors traded 9 295 807 shares in 1015 deals. Old Mutual announced an interim dividend, the appointment of new non-executive directors, the sale of US Life operations, as well as their six-months interim results.

    Platinum company Lonmin PLC (LON) tumbled 3.37% after 751 deals traded 645 232 shares, sending the price down to R183.02 at noon.

    SABMiller PLC (SAB) fell 1.89% to R216.00 a share, after 689 046 shares were exchanged in 1 009 deals.

    Permalink2010-08-06, 12:33:59, by Natalie Email , Leave a comment

    JSE inches up, though lacking direction from global markets

    Local markets

    The JSE All Share had inched up 0.35% by noon, with small gains across the board with the exception of the gold mining sector, which had lost 0.22%.

    The rand was trading at R7.26 to the US dollar at midday, remaining in a range with no significant movement expected for the rest of the day.

    Oil cost $82.27 a barrel, up 0.33% though dollar strength limited further price gains and somewhat dampened the impact of positive US employment data and falling crude inventories.

    International markets

    The Dow Jones closed 0.51% higher while the Nasdaq climbed 0.88% as strong retailer earnings injected confidence into US markets.

    Japan’s Nikkei finished 1.73% higher this morning, recovering as the dollar strengthened against the yen after positive US employment and service sector data.

    European shares rose before the release of new interest rate decisions from the European Central Bank and the Bank of England, with the CAC40 up 0.82% and the DAX gaining 0.39%.

    Britain's FTSE 100 had inched up 0.32% as solid results from insurers were offset by disappointing earnings from Barclays and Unilever.

    Share price news

    Exxaro Resources Limited (share code: EXX) rose 2.88% to R121.40 a share, after 798 deals exchanged 338 566 shares. Exxaro released a trading statement this morning, which announced an expected 60% to 73% increase in headline earnings per share.

    After 661 648 shares were traded in 975 deals, Truworths International Limited (TRU) rose 1.51% to R58.57 at midday.

    Coal of Africa Limited (CZA) lost 8.07% as shares fell to R10.71 after 24 deals saw the trade of 58 752 shares.

    5 deals exchanged 25 000 shares in Grand Parade Investments (GPL), which saw the share price slide 1.75% to R2.25.

    Permalink2010-08-05, 14:37:42, by Natalie Email , Leave a comment

    Weak economic data from the US sees global markets falter

    Local markets

    At midday on Wednesday, losses in financial and basic materials shares had led the JSE All Share down by 0.52%. Gold mining shares managed to buck the trend, rising 1.06%.

    The rand was trading at R7.30 to the US dollar at noon, slightly weaker from overnight levels but remaining within a range.

    Gold cost $1194.80 an ounce, gaining 0.75% to reach its highest level in a week after poor economic data from the US sparked concerns about the global economic recovery.

    International markets

    The Dow Jones lost 0.36% while the Nasdaq dipped 0.52% yesterday as Procter & Gamble published poor results, and data showed US home sales fell to a record low in June.

    Japan’s Nikkei index closed dropped 2.11% this morning, after exporters were hit by a falling dollar-yen exchange rate and worse-than-expected economic data from the US.

    Hong Kong’s Hang Seng rose 0.43% despite analysts expecting a pullback after a lower close on Wall Street on sluggish consumer spending data and corporate results.

    Britain's FTSE 100 had fallen 1.14% by 12:00 Johannesburg time, following losses on US markets which dented investor confidence. Commodity and bank shares led the index downwards.

    Share price news

    Investment bank Cadiz Holdings Limited (CDZ) rose to R3.40 a share at midday, an increase of 1.49% after investors traded 161 000 shares in 4 deals.

    In the clothing and footwear sector, Compagnie Fin Richemont (CFR) climbed 1.44% to sell at R28.91 a share, after 3 660 134 shares were exchanged in 547 deals.

    After 892 deals traded 5 881 316 shares, Nampak (NPK) fell 8% to R17.71 a share at noon.

    Gold mining company Simmer and Jack Mines Limited (SIM) lost 1.90% after 233 262 shares were exchanged in 32 deals, which saw the share price slide to R1.03.

    Permalink2010-08-04, 12:46:54, by Natalie Email , Leave a comment

    Solid corporate earnings see July close on a good note

    Local markets

    On Monday at noon, the JSE All Share had risen 1.02% in line with movements on Asian markets. Gains in basic materials and oil and gas stocks helped to lift the local bourse.

    The rand was trading at R7.25 to the US dollar, strengthening slightly. Analysts expect the local currency to test its best levels this cycle.

    Gold cost $1177.35 an ounce at 12:00, falling 0.39% as confidence in the financial markets rose and investors sold off safe-haven assets.

    International markets

    On US markets on Friday, the Dow Jones closed 0.01% lower and the Nasdaq finished 0.13% higher. July proved to be the best month in a year after the earnings season closed on the release of a strong selection of results.

    Japan’s Nikkei average rose 0.35% this morning as investors bought up shares of companies with solid earnings, offsetting losses due to a strong yen and weak economic data from the US.

    Hong Kong’s Hang Seng climbed 1.82% to reach its highest close in three months, on hopes of strong earnings for HSBC and on news that Foxconn International Holdings has restarted operations at a factory in India.

    Britain's FTSE 100 had risen 1.92% by noon SA time, recovering after three days’ losses thanks to gains in banking shares as investors welcomed first-half results from HSBC.

    Share price news

    1time Holdings Limited (share code: 1TM) gained 11.11% to sell at R1.50 a share, after investors traded 1 051 672 shares in 57 deals.

    Paladin Capital Limited (PLD) rose 6.19% to R2.40 a share, after 23 deals saw the exchange of 9 360 889 shares by midday.

    In the financial sector, Zeder Investments Limited (ZED) fell to R1.98 a share, after 8 008 500 shares were traded in 50 deals.

    After 180 932 shares were sold in 120 deals, marine transportation company Grindrod Limited (GND) fell 2.15% to sell at R15 a share at noon.

    Permalink2010-08-02, 12:25:13, by Natalie Email , Leave a comment