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    Gains in resources lift JSE

    Local markets

    At 12:00 on Thursday, the JSE All Share had edged up 0.56% with gains in resource shares leading the upward trend.

    The rand was exchanging at R6.95 to the US dollar at noon, weakening slightly after its recent strength.

    Brent crude oil rose 5.18% to $79.94 a barrel, and is expected to finish September at a 7-month high after US inventories fell and a weaker dollar boosted the commodity.

    International markets

    Yesterday on US markets, investors prepared themselves for increased volatility as the best quarter in a year comes to a close. The Dow Jones edged down 0.21% and the Nasdaq gave up 0.13%.

    The Japanese Nikkei index fell 1.99% this morning due to a rising yen, but further losses were limited by hopes that the government will once again intervene and central bank will continue to easy monetary policy.

    In Hong Kong, the Hang Seng dipped 0.09% at its close after Goldman Sachs sold a $2.25 billion stake in Industrial and Commercial Bank of China Ltd.

    In Britain, the FTSE 100 had lost 0.26% by noon as losses in bank shares weighed after news of a price on the Anglo Irish Bank bailout, and Moody's downgraded Spain's credit rating.

    Share price news

    Rising 3.38% by midday was Clicks Group Limited (share code: CLS), whose shares sold at R43.76 after 379 deals traded 377 539 shares.

    Telkom SA Limited (TKG) gained 2.26% after 244 496 shares were exchanged in 261 deals, sending the share price up to R38.40.

    After 14 deals totaling 114 127 shares, Sentula Mining Limited (SNU) fell 2.26% to R2.60 a share at noon.

    In the investment company sector, Reinet Investments SCA (REI) saw the exchange of 356 511 shares in 130 deals, which sent the share price down 1.41% to R11.85 each.

    Permalink2010-09-30, 13:54:53, by Natalie Email , Leave a comment

    Weaker US dollar sees gold reach lifetime high

    Local markets

    The JSE All Share had risen 0.54% by midday on Wednesday, with gains in the oil and gas sector leading the local bourse upwards.

    The rand was trading at R6.95 to the US dollar at noon, looking to reach the R6.90 level as the dollar weakens further.

    Gold cost $1 308 an ounce at 12:00 after reaching a lifetime high earlier, as the dollar weakened against several currencies on possible moves by the US Federal Reserve to help strengthen economic recovery.

    International markets

    Yesterday on US markets, the Dow Jones edged up 0.43% while the Nasdaq rose 0.41% after investors bought outperforming shares.

    Japan’s Nikkei average closed up 0.67% this morning before the end of the first half of the financial year, but further gains were limited by the continued strength of the yen.

    Hong Kong’s Hang Seng climbed 1.22% as investors bought up share majors before the expiration of futures settlement contracts.

    Britain's FTSE 100 had lost 0.16% by midday, after losses in banking shares and continued anxiety over euro zone debt issues offset gains in energy shares.

    Share price news

    Shares in Vodacom Group Limited (share code: VOD) rose 2.38% by noon to sell at R68.80 a share, after investors traded 925 341 shares in 661 deals.

    In the pharmaceuticals sector, Cipla Medpro SA Limited (CMP) gained 2.84% to trade at R7.25, after 87 deals exchanged 228 921 shares.

    Pick N Pay Holdings Limited (PWK) fell to R17.20 a share at 12:00, a loss of 4.18% after 447 449 shares were traded in 137 deals. Pick N Pay announced this morning an expected loss in total HEPS of between 10% and 25%.

    Also losing ground was Pick N Pay Stores Limited (PIK) after 1 360 025 shares were sold in 581 deals, which saw the share price drop 2.62% to R42.30 at midday.

    Permalink2010-09-29, 13:32:25, by Natalie Email , Leave a comment

    JSE edges downwards at midday

    Local markets

    At noon on Tuesday, the JSE All Share had fallen 0.23% after losses in the oil and gas sector weighed on the local bourse.

    The rand was selling at R7.00 to the US dollar at 12:00, strengthening slightly against the greenback.

    Gold slid 0.33% to sell at $1 290.80 an ounce after speculators took profits following a rebound in the US dollar.

    International markets

    The Dow Jones gave up 0.44% yesterday while the Nasdaq closed 0.48% as investors engaged in profit taking after the recent rally. Analysts expect gains to resume in light of several market deals.

    In Japan, the Nikkei average lost 1.12% this morning after the half-year dividend deadline passed and the yen rose to almost its highest level in about a fortnight.

    Germany’s DAX dipped 0.69% by midday while France’s CAC40 lost 0.75%, after investors continued to be anxious about euro zone neighbours’ debt problems.

    In Britain, the FTSE 100 had fallen 0.82% after losses in bank and commodity shares after euro zone debt concerns and economic recovery worries lowered investor confidence.

    Share price news

    At midday, shares in Jubilee Platinum (share code: JBL) rose 5.79% to R3.84, after 373 482 shares were exchanged in 43 deals. This morning, Jubilee reported that an increase of 50% to 70% in earnings per share is expected.

    Once again amongst the top movers upwards was Litha Healthcare Group Limited (LHG) whose shares rose 2.45% to R1.67 at noon, after investors traded 256 521 shares in 47 deals.

    Investment bank Cadiz Holdings Limited (CDZ) fell to R3.20 a share, a loss of 5.88% after 25 deals exchanged 121 132 shares. In a trading statement, Cadiz announced that EPS for the six months ended 30 September 2010 are expected to drop by at least 20%.

    Avusa Limited (AVU) in the media agencies sector lost 3.14% after 4 deals traded 52 182 shares, with the share price dropping to R21.30 by noon.

    Permalink2010-09-28, 12:25:32, by Natalie Email , Leave a comment

    JSE gains in line with stronger global markets

    Local markets

    At midday on Monday, gains in oil, gas and financial shares had helped to lift the JSE All Share up by 1.09%.

    The rand was trading at R7.01 to the US dollar, offsetting earlier gains after Massmart shares rose on news that Wal-Mart Stores could make a R32bn cash offer for the distributor.

    Oil cost $x a barrel at noon, rising x% on a weaker dollar and increasing risk appetite.

    International markets

    On Friday, the Dow Jones rose 1.86% while the Nasdaq climbed 2.33% to end three sessions of losses after a rise in corporate spending.

    In Japan this morning, the Nikkei closed 1.39% higher in line with US markets, but gains were limited by the yen's continued strength against the dollar.

    Hong Kong’s Hang Seng gained 1% at its close following stronger markets in the US and Japan, and investor sentiment improved.

    Britain's FTSE 100 had edged up 0.01% by 12:00, after Unilever gained a US acquisition, and pharmaceutical company AstraZeneca fell after problems with a drug trial.

    Share price news

    After news of a potential acquisition by Walmart, Massmart Holdings Limited (share code: MSM) rose to R149.07 a share, a gain of 10.63% after 1 674 002 shares were sold in 1 140 deals.

    After 48 deals exchanged 450 892 shares, Litha Healthcare Group Limited (LHG) soared 8.22% to sell at R1.58 a share at midday.

    Paladin Capital (PLD) lost 3.57% as shares fell to R2.70, after 55 286 shares were traded in 16 deals.

    By noon, investors had exchanged 47 600 shares in Gold One International Limited (GDO) in 11 deals, which caused the share price to slide 2.44% to R2.

    Permalink2010-09-27, 12:34:39, by Natalie Email , Leave a comment

    JSE slides, lacking direction from global markets

    Local markets

    The JSE All Share had fallen 0.24% by midday, with moderate losses across the board except for gold mining shares, which had gained 0.76% by lunch boosted by higher commodity prices.

    The rand was trading at R7.07 to the US dollar at noon, weakening slightly as the local currency consolidated after reaching a high against the dollar on Wednesday.

    Gold cost $1291.20 an ounce, inching up as safe-haven assets grew in appeal due to continued economic worries.


    International markets

    Yesterday, the Dow Jones fell 0.20% while the Nasdaq lost 0.63% after US markets took a hit from Adobe's pessimistic outlook and a lower-than-expected dividend from Microsoft.

    The Nikkei, Shanghai and Hang Seng indices were all closed for public holidays today.

    European shares continued to decline for a third session, as new economic data compounded worries about the strength of global economic recovery. France’s CAC40 had lost 0.92% and the DAX was down 0.71% around midday.

    Britain's FTSE 100 had fallen 0.77% by noon, as banks continued to lose ground after anxiety over US economic recovery.

    Share price news

    Amongst the top movers upwards this morning was Glenrand MIB Limited (share code: GMB) whose shares rose 3.05% to R1.35, after 114 000 shares were traded in 10 deals.

    DRDGold Limited (DRD) rose to R3.66 a share, a 2.52% gain as investors exchanged 105 259 shares in 27 deals.

    After 12 deals totaling 254 196 shares, Wescoal Holdings Limited (WSL) fell to R1.22, a loss of 2.40% by midday.

    Consumer services company Advtech Limited (ADH) slid 1.64% as shares fell to R6 after 200 000 shares were sold in 30 deals.

    Permalink2010-09-23, 14:47:44, by Natalie Email , Leave a comment

    Global markets lose ground on persistent recovery concerns

    Local markets

    Wednesday at noon saw the JSE All Share down 0.36%, as losses in the oil, gas and industrial sectors weighed. Gold miners bucked the trend, gaining 0.87% by midday.

    The rand was exchanging at R6.97 to the US dollar at 12:00, strengthening to a 2½ year high as the dollar weakened and investors await key economic data from the South African Reserve Bank.

    Oil rose 6.77% to cost $77.94 per barrel, on persistent concerns for the US economy and worrying crude oil inventory levels.

    International markets

    Yesterday, US markets closed flat after a volatile session as the Federal Reserve inched closer to further steps to spur the economy. The Dow Jones edged up 0.07% while the Nasdaq lost 0.28%.

    In Japan, the Nikkei average slipped 0.37% this morning, though losses were limited by a stronger dollar and expectations of further Japanese intervention if the yen strengthened further.

    European shares continued to lose ground this morning, led by banks on continuing concern for the health of global economic recovery. Germany’s DAX had fallen 0.90% while France’s CAC40 had tumbled 0.96% around noon.

    In Britain, the FTSE 100 had fallen 0.51% after losses in banks and energy stocks, after worries over the US economy.

    Share price news

    Gaining 14.52% by midday was Litha Healthcare Group Limited (share code: LHG) whose shares rose to R1.42 after 62 deals traded 725 476 shares.

    Computer services company EOH Limited (EOH) was selling at R13.75 a share after a gain of 1.85%, as traders exchanged 70 220 shares in 20 deals.

    In the construction materials sector, Mazor Group Limited (MZR) lost 5.71% as shares fell to R1.65, after 141 160 shares were traded in 10 deals by midday.

    After 314 672 shares were sold in 8 deals, Metrofile Holdings Limited (MFL) slid 2.50% to R1.56 a share.

    Permalink2010-09-22, 12:41:18, by Natalie Email , Leave a comment

    Global markets cautiously optimistic ahead of today’s US Federal Reserve meeting

    Local markets

    On Tuesday at 12:00, moderate gains almost across the board supported a 0.16% gain in the JSE All Share, despite losses in oil, gas and resources shares. Investors traded cautiously ahead of a US Federal Reserve policy meeting and US housing data due this afternoon.

    The rand was trading at R7.09 to the US dollar at noon, a little stronger before Ireland’s bond auction of up to €1.5 billion, and a meeting of the US Federal Open Market Committee later.

    Oil cost $78.85 a barrel, gaining 2.40% despite initial caution ahead of the US monetary policy meeting. The meeting is expected to provide insight into the health of global economic recovery and the corresponding demand for oil.

    International markets

    Yesterday on US markets, the Dow Jones rose 1.37% and the Nasdaq lifted 1.74% as a wave of optimistic corporate news inspired investors to buy.

    The Japanese Nikkei index fell 0.25% this morning, as investors took profits after the yen’s continued strength against the dollar dampened sentiment.

    In Germany, the DAX had risen 0.47% while France’s CAC40 had gained 0.61%, with mining shares leading the upward trend. Further gains were limited by caution ahead of today’s US Federal Reserve meeting.

    Britain's FTSE 100 had edged up 0.45%, as gains in bank and energy shares continued yesterday’s rally.

    Share price news

    In the furnishings and floor coverings sector, Steinhoff International Holdings Limited (share code: SHF) rose 2.65% to sell at R19.76 a share at midday. Investors traded 2 527 199 shares in 830 deals.

    Metals and minerals firm Metorex Limited (MTX) gained 2.72% after 181 deals exchanged 2 952 812 shares, to trade at R4.15 a share at 12:00.

    Mazor Group Limited (MZR) in the construction materials sector fell 5.71% after 176 532 shares were traded in 17 deals, leaving the share price down at R1.65. Mazor released a trading update this morning, announcing a 70% decrease in EPS and HEPS for the six months ended 31 August 2010.

    After 34 deals of 1 670 466 shares, DRDGold Limited (DRD) lost 1.65% as shares fell to R3.57 each at midday.

    Permalink2010-09-21, 12:13:37, by Natalie Email , Leave a comment

    Financial and industrial share gains lead JSE upwards

    Local markets

    At midday on Monday, the JSE All Share was up 0.57% with financial and industrial shares leading gains, while gold mining shares edged down.

    The rand was exchanging at R7.10 to the US dollar at noon.

    Gold was selling at $1 280.15 at 12:00, an increase of 0.27% as investors expected more quantitative easing in the US to stimulate a healthier economic recovery.

    International markets

    On US markets on Friday, the Dow Jones closed 0.12% higher while the Nasdaq rose 0.54%. Market volatility was less than expected after the expiration of options.

    The Nikkei was closed for a public holiday in Japan.

    China’s Shanghai index lost 0.38% this morning, though bank shares were trading mostly higher as worries of new loan-reserve ratio requirements and central bank rate increase eased.

    Britain’s FTSE 100 had risen 1.05% by noon, with BP rising after finally solving the oil-well crisis in the Gulf of Mexico.

    Share price news

    Investment bank Peregrine Holdings Limited (PGR) rose 3.68% to R11 a share at midday, after 135 439 shares were traded in 62 deals.

    Paladin Capital Limited (PLD) saw the trade of 187 300 shares in 14 deals, which sent the share price up 2.94% to R2.80 a share.

    Losing 2.91% was 1time Holdings Limited (1TM), whose shares fell to R1 after 29 deals exchanged 223 338 shares.

    In the education, business training and employment sector, Adcorp Holdings Limited (ADR) lost 1.64% to sell at R27 a share, after 104 000 shares were traded in 5 deals.

    Permalink2010-09-20, 12:45:16, by Natalie Email , Leave a comment

    Firmer commodity prices boost JSE

    Local markets

    At Friday midday, gains in basic materials and resource shares led the JSE All Share higher by 0.71% supported by firmer commodity prices.

    The rand was trading at R7.11 to the US dollar at noon, weakening on uncertainty ahead of next week's ANC conference and dollar buying by banks.

    Gold rose 0.44% to sell at $1 280.80 an ounce, remaining stable on a weaker dollar and concern over economic recovery.

    International markets

    On US markets yesterday, the Dow Jones edged up 0.21% while the Nasdaq ended flat at 0.08% higher, after mixed economic data and a cautious forecast from FedEx.

    Japan's Nikkei average closed 1.23% up this morning, reaching a six-week closing high thanks to a weaker yen.

    Hong Kong’s Hang Seng rose 1.29%, ending on a positive note to match the rally at the start of the week, after solid economic data from China.

    The British FTSE 100 had risen 1.02% by noon SA time, on increasing appetite for risk.

    Share price news

    At midday, Coal of Africa Limited (share code: CZA) rose 5.77% to R10.99, after 106 568 shares were exchanged in 29 deals.

    Life Healthcare Group Holdings Limited (LHC) rose to R13.90 a share, a gain of 2.06% after 245 deals traded 3 070 730 shares.

    After 17 deals of 841 582 shares, Delta EMD Limited (DTA) in the electrical equipment sector fell to R11.95 a share, a loss of 19.80%.

    Santam (SNT) fell 5.98% to R112.50 a share, after investors sold 1 721 543 shares in 106 deals by noon.

    Permalink2010-09-17, 12:35:52, by Natalie Email , Leave a comment

    JSE lower in line with international markets

    Local markets

    Thursday at noon saw the JSE All Share down 0.04% in line with losses on global markets. Financial shares led the downward trend, though gains in gold miners and oil and gas stocks limited losses overall.

    The rand was exchanging at R7.09 to the US dollar at 12:00, easing slightly after its recent rally and as traders looked to the euro for direction.

    Oil was selling at $78.49 a barrel, up 0.63% at midday. US regulators agreed to Enbridge’s request to restart the biggest Canadian-US pipeline on Friday.

    International markets

    The Dow Jones rose 0.44% and the Nasdaq gained 0.50% yesterday, though US stocks remained in a range after disappointing economic data.

    Japan’s Nikkei closed 0.07% lower this morning, as the government’s intervention did not weaken the yen as much as hoped.

    Hong Kong’s Hang Seng lost 0.16% despite the influence of Wall Street gains, and China’s Shanghai index fell 1.89%.

    Britain’s FTSE 100 had slipped 0.21% around midday after retail sales growth dropped unexpectedly last month.

    Share price news

    Gaining 3.37% by noon was York Timber Holdings Limited (share code: YRK) as share prices rose to R3.68 after 10 deals exchanged 92 954 shares.

    After 7 deals traded 151 500 shares, Country Bird Holdings Limited (CBH) in the farming and fishing sector rose 2% to sell at R2.55 a share.

    Investec Limited (INL) fell to R56.19 a share, a loss of 2.26% after investors sold 214 921 shares in 371 deals. Investec issued a pre-close briefing this morning, reporting a delay in the improvement of the level of non-performing loans and an increase in the number of defaults.

    Investec PLC (INP) lost 2.42% to trade at R54.94 a share, after 1 079 829 shares were exchanged in 622 deals by midday.

    Permalink2010-09-16, 12:18:30, by Natalie Email , Leave a comment

    Losses in gold miners lead JSE down

    Local markets

    Wednesday midday saw gold mining stocks plunge 3.45%, leading the JSE All Share’s downward slide of 0.32%.

    The rand had steadied at R7.08 to the US dollar at noon, with analysts anticipating the local currency to test the key R7 level after reaching its highest rate since 2008 yesterday.

    Gold cost $1 269 an ounce, edging up 0.07% after yesterday’s record high. Analysts expect gold to strengthen further as worry over global economic recovery continues.

    International markets

    On US markets, the Dow Jones lost 0.17% while the Nasdaq gained 0.18%. Investors are still mulling over potentially positive data from the retail sector which suggests that economic recovery continues, though slow.

    The Nikkei index closed 2.34% higher this morning, after the government intervened to weaken the yen, boosting shares of exporters.

    European markets were flat this morning as investors considered the impact of Japan’s intervention in the yen. Germany’s DAX was 0.21% lower while France’s CAC40 had slipped 0.14% by midday.

    Britain's FTSE 100 had given up 0.15% by 12:00, as investors cautiously awaited local unemployment figures and euro zone inflation figures due this afternoon.

    Share price news

    Electrical equipment company Delta EMD Limited (share code: DTA) had risen 3.10% to R14.95 a share at noon, after 605 200 shares were exchanged in 11 deals.

    Coronation Fund Managers Limited (CML) gained 2.85% as investors traded 393 756 shares in 37 deals, sending the share price up to R13.34.

    Losing 4.43% to sell at R317.50 a share was Anglogold Ashanti Limited (ANG), after investors sold 1 788 977 shares in 2 975 deals. Anglogold Ashanti announced a share offering of 15 773 914 ordinary shares this morning.

    Harmony Gold Mining Company Limited (HAR) fell 2.80% to R81.45 a share after 1236 deals exchanged 805 732 shares by midday.

    Permalink2010-09-15, 12:13:51, by Natalie Email , Leave a comment

    Profit taking weighs on JSE

    Local markets

    At noon on Tuesday, the JSE All Share had fallen 0.2% as losses in financial shares weighed on the local bourse, and investors took profits after the recent rally.

    The rand was trading at R7.15 to the US dollar at 12:00, softening slightly, though analysts expect further gains.

    Gold rose 0.61% to sell at $1 252.95 an ounce as investors bought up safe-haven assets as the US dollar weakened.

    International markets

    Yesterday, positive factory data from China and new global banking rules saw US markets strengthen. The Dow Jones lifted 0.78% and the Nasdaq gained 1.93%.

    Japan’s Nikkei average closed 0.24% lower this morning, as Prime Minister Naoto Kan's win in a party leadership vote inspired caution amongst investors.

    China’s Shanghai index edged into the black, up 0.01% this morning, while Hong Kong’s Hang Seng finished slightly up by 0.17% to continue yesterday’s rally.

    Britain's FTSE 100 had lost 0.17% by noon SA time, as investors grew watchful ahead of British inflation data and US retail sales.

    Share price news

    In the farming and fishing sector, Afgri Limited (share code: AFR) rose to R6.66 a share at midday, a gain of 2.78% as investors traded 418 712 shares in 88 deals.

    Blue Label Telecoms Limited (BLU) rose 2.56% to R5.60 a share after 76 deals exchanged 537 489 shares.

    Esorfranki Limited (ESR) in the construction sector fell to R2 a share, after 115 deals traded 598 245 shares, a loss of 5.66%.

    After 1 216 deals totaling 5 506 132 shares, Firstrand Limited (FSR) fell 1.80% to trade at R20.18 a share by noon.

    Permalink2010-09-14, 12:20:19, by Natalie Email , Leave a comment

    Positive data from the US and China boost global markets

    Local markets

    At 12:00 on Monday, stronger resources and basic materials shares led the JSE All Share higher by 0.98%.

    The rand was trading at R7.13 to the US dollar at noon, its firmest level in two-and-a-half years as the local currency followed a strengthening euro.

    Oil cost $77.92 a barrel at midday, rising 1.19% on growing Chinese demand and output, and the continued closure of a major pipeline between the US and Canada.

    International markets

    On Friday, US markets closed higher on expectations of an improved economic outlook after data showed that US wholesale inventories rose the highest in two years in July. The Dow Jones gained 0.46% while the Nasdaq edged up 0.28%.

    The Japanese Nikkei climbed 0.89% this morning to reach its highest close in three weeks, after positive economic data from China and the US boosted sentiment.

    Hong Kong’s Hang Seng finished 0.94% up as Chinese data showed factories increasing production in August, buoying hopes that China’s growth would fortify global recovery.

    Britain’s FTSE 100 had risen 1.17% by midday, as bank stocks gained after proposed new banking rules were more relaxed than expected.

    Share price news

    Rising 3.14% to trade at R3.28 a share at midday was DRDGold Limited (share code: DRD) as investors sold 577 685 shares in 47 deals.

    Merafe Resources (MRF) climbed 3.88% after 151 deals traded 3 809 571 shares, boosting the share price to R1.34.

    After 113 deals of 475 765 shares, real estate firm Emira Property Fund (EMI) fell 3.36% to sell at R12.96 a share at 12:00.

    Also in the real estate sector, Growthpoint Properties Limited (GRT) lost 3.23% after 1 079 397 shares were traded in 212 deals, sending the share price down to R16.50.

    Permalink2010-09-13, 12:32:12, by Natalie Email , Leave a comment

    JSE edges down as resource shares hit by stronger rand

    Local markets

    On Friday at midday, the JSE All Share had edged downs 0.03%, with small gains failing to outweigh losses in resources, oil and gas shares under the influence of a stronger rand.

    The rand was selling at R7.18 to the US dollar at noon, remaining steady after overnight levels.

    Gold cost $1 247.84 an ounce at 12:00, rising 0.3% as bargain hunting eased losses on the back of stronger equity markets.

    International markets

    Yesterday, better-than-expected US jobs and trade data boosted hopes for a stronger economic recovery. The Dow Jones rose 0.72% and the Nasdaq gained 0.33%.

    The Nikkei index closed 1.55% higher this morning, as investors bought up futures and the yen weakened slightly against the US dollar.

    China’s Shanghai index rose 0.26% while Hong Kong’s Hang Seng climbed 0.45% as positive economic data from the US spurred bargain hunting.

    Britain’s FTSE 100 had lost 0.12% by noon, as investors were cautious ahead of the concluding of European banking capital rules this weekend.

    Share price news

    Clothing and footwear firm Compagnie Fin Richemont (share code: CFR) rose to R31 a share at midday, a gain of 2.31% after 4 276 303 shares were exchanged in 608 deals.

    Continuing its recent rally was Amalgamated Appliance Holdings Limited (AMA) whose shares climbed 2.15% to sell at R1.90 each, after 243 092 shares were traded in 16 deals.

    Losing 3.86% by noon was Barnard Jacobs Mellet Holdings Limited (BJM) as shares fell to R4.48. 20 deals saw the exchange of 1 038 288 shares. BJM released a cautionary announcement this morning regarding the disposal of the entire share capital of BJM UK and BJM USA.

    Capital & Counties Property PLC (CCO) fell 1.52% to R14.26 a share, after investors sold 73 031 shares in 28 deals.

    Permalink2010-09-10, 13:16:00, by Natalie Email , Leave a comment

    JSE, global markets mixed

    Local markets

    On Thursday at 12:00, small gains almost across the board saw the JSE All Share rise 0.51%, recovering after losses earlier in the day.

    Top of Form
    The rand was trading at R7.23 to the US dollar at noon, remaining at the low end of its range as investors await the outcome of today’s MPC interest rate decision.

    Brent crude oil rose 0.35% to cost $77.27 a barrel, after an initial report of falling US inventories boosted prices.

    International markets

    Yesterday, the Dow Jones finished 1.03% lower while the Nasdaq gained 0.9%. Investors were caught between positive news from Europe and indications that US economic recovery was slowing down, resulting in mixed markets.

    The Japanese Nikkei closed 0.82% higher this morning, as short-covering after successful bond auctions in Portugal and Poland that eased European debt worries, boosted the index.

    China’s Shanghai index fell 1.44% after a surprise drop in commodities futures and the forthcoming release of more economic data spurred profit taking.

    Britain's FTSE 100 had edged up 0.77% by noon, after rising bank shares offset losses in retail shares after pessimistic remarks from Home Retail and WM Morrison Supermarkets.

    Share price news

    Metorex Limited (share code: MTX) rose 3.17% to R3.90 a share, after 167 deals traded 3 156 423 shares.

    Amalgamated Appliance Holdings Limited (AMA) climbed to R1.90 a share at midday, a gain of 2.15% as investors exchanged 1 043 757 shares in 28 deals.

    Falling 1.11% to R23.97 a share, Sanlam Limited (SLM) saw the trade of 1 821 040 shares in 611 deals. Sanlam released their interim results today and announced the settlement of disputes on pension fund surpluses.

    Computer services company Dimension Data Holdings Limited (DDT) fell to R13.30 a share, a loss of 0.67% as 175 607 shares were traded in 20 deals.

    Permalink2010-09-10, 09:51:57, by Natalie Email , Leave a comment

    JSE retreats on pessimistic global sentiment

    Local markets

    At midday on Wednesday, the JSE All Share had slipped 0.13% in line with weaker global markets, despite earlier gains in resource and gold mining shares after firmer metals prices.

    The rand was trading within a range at noon, exchanging at R7.27 to the US dollar ahead of tomorrow’s interest rate decision by the Monetary Policy Committee.

    Oil cost $76.33 a barrel at 12:00, recovering 0.21% after falling for three sessions as the commodity took a hit from lower equity markets.

    International markets

    On US markets yesterday, the Dow Jones fell 1.03% and the Nasdaq gave up 1.11% after revived concerns about European banks spurred selling.

    In Japan, the Nikkei average lost 2.18% this morning after the yen strengthened to a 15-year high against the dollar, and sent investors running for cover.

    Hong Kong’s Hang Seng fell 1.46% at its close, ending a five-day rally after Vodafone sold its stake in China Mobile at a discount, sending China Mobile shares plummeting.

    Britain's FTSE 100 had lost 0.66% by midday, after banks lost ground on worries over European banks, and mining shares continued to be shaken by concern over Australia's tax plan.

    Share price news

    Petmin Limited (share code: PET) released their preliminary consolidated results, and announced a maiden dividend this morning. The share price climbed 4.17% to R2.50 in response, after 192 250 shares were traded in 29 deals.

    Onelogix Group Limited (OLG) rose to R1 a share, a gain of 2.04% after investors sold 624 847 shares in 10 deals.

    After 12 deals totaling 70 945 shares, Wesizwe Platinum Limited (WEZ) fell to R1.53 a share, a loss of 6.13% by midday.

    Investment bank Sasfin holdings Limited (SFN) fell 2.96% to R36.10 a share, after 18 deals traded 279 065 shares. Sasfin released their audited group results and dividend.

    Permalink2010-09-08, 12:16:15, by Natalie Email , Leave a comment

    JSE slides as international markets weaken on profit taking

    Local markets

    On Tuesday at noon, the JSE had slipped 0.51% led by losses in the oil and gas index. The local bourse was influenced by weaker international markets as profit taking set in after recent gains.

    The rand slipped to R7.26 against the US dollar as investors were cautious ahead of a rate cut due later this week.

    Gold fell 0.28% to $1246.50 an ounce at midday, as dollar strength limited gains after revived concern for the European banking sector and global economic growth.

    International markets

    US markets were closed yesterday for a public holiday.

    Japan’s Nikkei average fell 0.81% this morning, as investors took profits after recent gains, and as the yen remained strong.

    Hong Kong’s Hang Seng gained 0.22% at its close to continue its recent rally.

    England’s FTSE 100 was down 0.83% at noon as losses in banks weighed after renewed concern about the health of European banking sector.

    Share price news

    At midday, Metorex Limited (share code: MTX) rose to R3.74 a share, an increase of 2.75% as 1 562 840 shares were traded in 176 deals. Metorex announced their interim results this morning, reporting an increase in both copper and cobalt production.

    Metropolitan Holdings (MET) gained 1.48% as shares rose to R15.75, as investors exchanged 452 404 shares in 148 deals.

    After 7 deals totaling 65 000 shares, Brimstone Investment Corporation Limited (BRN) fell 6.09% to sell at R5.40 a share around 12:00.

    PSG Group Limited (PSG) fell to R31.60 a share, a loss of 4.16% after 16 deals traded 35 194 shares.

    Permalink2010-09-07, 12:44:24, by Natalie Email , 1 comment

    JSE slides as international markets weaken on profit taking

    Local markets

    On Tuesday at noon, the JSE had slipped 0.51% led by losses in the oil and gas index. The local bourse was influenced by weaker international markets as profit taking set in after recent gains.

    The rand slipped to R7.26 against the US dollar as investors were cautious ahead of a rate cut due later this week.

    Gold fell 0.28% to $1246.50 an ounce at midday, as dollar strength limited gains after revived concern for the European banking sector and global economic growth.

    International markets

    US markets were closed yesterday for a public holiday.

    Japan’s Nikkei average fell 0.81% this morning, as investors took profits after recent gains, and as the yen remained strong.

    Hong Kong’s Hang Seng gained 0.22% at its close to continue its recent rally.

    England’s FTSE 100 was down 0.83% at noon as losses in banks weighed after renewed concern about the health of European banking sector.

    Share price news

    At midday, Metorex Limited (share code: MTX) rose to R3.74 a share, an increase of 2.75% as 1 562 840 shares were traded in 176 deals. Metorex announced their interim results this morning, reporting an increase in both copper and cobalt production.

    Metropolitan Holdings (MET) gained 1.48% as shares rose to R15.75, as investors exchanged 452 404 shares in 148 deals.

    After 7 deals totaling 65 000 shares, Brimstone Investment Corporation Limited (BRN) fell 6.09% to sell at R5.40 a share around 12:00.

    PSG Group Limited (PSG) fell to R31.60 a share, a loss of 4.16% after 16 deals traded 35 194 shares.

    Permalink2010-09-07, 12:41:14, by Natalie Email , Leave a comment

    US jobs data boosts global markets

    Local markets

    Noon on Monday saw the JSE All Share up 0.41%, led by gains in gold mining and oil and gas shares after global equities were boosted by Friday's better-than-expected US nonfarm payrolls data.

    The rand was trading at R7.19 to the US dollar, weakening slightly by midday though still near last week’s highs remaining within a range.

    Brent crude cost $76.37 a barrel, rising 1.38% despite earlier falls due to the end of the US driving season and high inventory levels that suggest weak economic recovery.

    International markets

    On Friday, the Dow Jones climbed 1.24% while the tech-heavy Nasdaq rose 1.53% as US markets gained on a better-than-expected labour market report.

    The Japanese Nikkei closed 2.05% higher this morning, rising for a fourth session after lower US job losses last month buoyed hopes of a stronger economic recovery in their main export partner.

    Though trade was thin due to US markets being closed for a public holiday today, European equities rose after Friday’s positive jobs data from the US. France’s CAC40 had risen 0.51% and Germany’s DAX had gained 0.33% by noon.
    Britain's FTSE 100 had inched up 0.45% by midday, led by gains in banks and commodity stocks as risk appetite rose on the back of positive US economic data.

    Share price news

    Amalgamated Appliance Holdings Limited (share code: AMA) climbed 3.83% to sell at R1.90 a share, after investors sold 447 834 shares in 21 deals by 12:00. AMA released their reviewed consolidated results this morning that announced an increase in EPS and HEPS.

    Merafe Resources (MRF) rose to R1.34 a share, gaining 2.29% after 302 422 shares were exchanged in 25 deals.

    After 33 deals totaling 365 150 shares, Pangbourne Properties Limited (PAP) fell to R18.71, a loss of 3.56% in share price.

    Metropolitan Holdings (MET) lost 1.83% as shares dropped to R15.60, after 2 123 982 shares were traded in 286 deals by midday.

    Permalink2010-09-06, 12:35:03, by Natalie Email , Leave a comment

    Global markets rise tentatively before US payroll data

    Local markets

    On Friday, the JSE All Share had risen 0.2% by midday, in line with global market movement after positive US economic data. However, an element of caution remained before the release of US jobless data this afternoon.

    The rand was exchanging at R7.22 to the US dollar at noon, as rising appetite for risk showed in strengthening emerging market currencies.

    Gold cost $1 253.40 an ounce, edging up 0.17% at 12:00 with physical buying tentative before the announcement of US unemployment data.

    International markets

    Yesterday on US markets, positive housing data saw shares lifting, though further gains were limited ahead of monthly payrolls figures. The Dow Jones closed 0.49% higher while the Nasdaq climbed 1.06%.

    The Japanese Nikkei inched up 0.57% at its close this morning, enjoying a third day of gains after optimistic data from the US spurred short-covering.

    China’s Shanghai index dipped to finish 0.01% lower, led down by losses in banking stocks.

    Britain’s FTSE 100 had gained 0.46% by midday SA time, with stronger miners and energy shares providing support. Moves were cautious however ahead of August’s employment data from the US.

    Share price news

    Amongst the top movers up was Ellies Holdings Limited (share code: ELI), whose shares gained 3.23% to sell at R1.60 at midday. Investors exchanged 393 899 shares in 13 deals.

    In the farming and fishing sector, Afgri Limited (AFR) rose 3.02% to R6.49 a share, after 39 deals traded 391 942 shares.

    Platinum major Wesizwe Platinum Limited (WEZ) fell 8.72% to R1.57 a share at noon, after investors sold 153 911 shares in 30 deals.

    After 14 deals, Advtech Limited (ADH) in the specialized consumer services sector lost 1.75%. Investors had exchanged 386 250 shares by midday, which saw the share price slide to R5.60.

    Permalink2010-09-03, 12:14:58, by Natalie Email , Leave a comment

    JSE loses momentum after yesterday’s rally

    Local markets

    At midday on Thursday, rising gold mining shares led gains as the JSE edged up 0.24%, flattish after yesterday’s rally on upbeat global economic data.

    The rand was trading at R7.26 to the US dollar just after 12:00, somewhat firmer after overnight levels and looking to the euro for direction.

    A barrel of Brent crude oil cost $75.34 at noon, a gain of 0.60%, despite record high US inventories and caution before the release of employment data.

    International markets

    On US markets yesterday, the Dow Jones closed 2.54% higher and the Nasdaq 2.97% up. Investor sentiment improved after better-than-expected factory data from the US and China.

    Japan’s Nikkei index finished 1.52% higher this morning, as US and Chinese manufacturing data continued to calm investor anxiety about the global economy.

    Germany’s DAX had lost 0.02% by midday, on caution before the announcement of the European Central Bank interest rate decision and US home sales.

    England’s FTSE 100 was 0.08% up, creeping back after earlier losses in miners on pessimistic Citigroup comments.

    Share price news

    Blue Label Telecoms Limited (share code: BLU) climbed 8.96% by midday to sell at R5.23 a share. Investors sold 27 379 948 shares in 804 deals.

    Rising 3% to R42.25 a share was Northam Platinum, after 187 deals traded 236 813 shares.

    Losing ground at noon was Brait SA (BAT) in the investment banks sector, whose shares fell 4.70% to R20.49 each. Investors exchanged 555 424 shares in 190 deals.

    Dimension Data Holdings Limited (DDT) lost 1.61% after 26 deals totaling 579 973 shares sent the share price down to R13.45 at noon.

    Permalink2010-09-02, 12:37:19, by Natalie Email , Leave a comment

    Strong growth data from China boosts global sentiment

    Local markets

    On Wednesday, gains in basic materials shares led the upward movement of the JSE All Share, which had risen 1.35% by noon. Optimistic global sentiment helped to lift the local bourse.

    The rand was selling at R7.35 to the US dollar, strengthening in line with the euro, as investors’ risk appetite rose.

    Oil cost $74.72 per barrel at 12:00, rising 0.97% after news that Chinese manufacturing growth sped up in August.

    International markets

    Yesterday, the Dow Jones edged up 0.05% but the Nasdaq lost 0.28% after US markets experienced a volatile session’s trade.

    In Japan, the Nikkei average closed 1.17% higher this morning, as the strengthening of the yen eased after a manufacturing rebound in China, and news of better-than-expected growth in Australia.

    China’s Shanghai index dipped 0.6% despite manufacturing data that showed growth was stabilizing at a moderate but acceptable pace.

    Britain’s FTSE 100 had risen 1.54% by midday, led by gains in mining stocks after firm economic data from China eased concerns about the health of global economic recovery.

    Share price news

    Country Bird Holdings Limited (share code: CBH) in the farming and fishing sector rose 8.70% to R2.50 a share, after 23 deals exchanged 175 060 shares by noon.

    After 422 892 shares were traded in 126 deals, pharmaceutical company Cipla Medpro SA Limited (CMP) climbed 4.52% to sell at R6.47 a share.

    In the hospital management sector, Litha Healthcare Group Limited (LHG) fell 9.09% to R1 a share, after investors sold 696 000 shares in 11 deals.

    Redefine Properties Limited (RDF) lost 2.63% as 1 475 029 shares were traded in 335 deals, leaving share price down at R7.78 at midday.

    Permalink2010-09-01, 12:13:51, by Natalie Email , Leave a comment