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    Losses in resource shares lead the JSE down

    Local markets

    At midday the JSE All Share had fallen 0.34% as losses in resource shares weighed on the local bourse, adding to losses in other sectors.

    The rand was trading at R7.02 to the US dollar, remaining steady after credit growth and money supply statistics were better than expected.

    Oil cost $82.54 a barrel around noon, falling 0.24% on apprehension before news of the size and structure of the US Federal Reserve’s plan for monetary easing.

    International markets


    On Thursday, the Dow Jones closed 0.11% lower while the Nasdaq edged up 0.16% little changed from the previous session. Investors were cautious ahead of the release of GDP data for the third quarter.

    In Japan this morning, the Nikkei finished 1.75% lower to reach its lowest close in seven weeks, after poor earnings were released by key companies such as Sharp.

    Hong Kong's Hang Seng index fell 0.49%, after losses in China Life and the release of worse-than-expected quarterly results from other insurers.

    Britain’s FTSE 100 had slipped 0.41% by midday in SA, as losses in miners and caution ahead of US GDP data weighed on the market.

    Share price news

    The Foschini Group Limited (share code: TFG) gained 1.88% after 318 165 shares were exchanged in 488 deals, sending the share price up to R84.50 at noon.

    Fellow retailer MR Price Group Limited (MPC) rose 1.75% to R63.49 a share, after 524 961 shares were traded in 423 deals.

    Metals and minerals firm Assore Limited (ASR) fell to R162 a share, after investors exchanged 4 504 shares in 24 deals, a loss in price of 3.57%.

    Losing 0.98% by noon was platinum firm Lonmin PLC (LON) as shares fell to R192.59 a share. Investors had sold 53 477 shares in 88 transactions.

    Permalink2010-10-29, 13:35:32, by Natalie Email , Leave a comment

    Resource shares lead JSE upwards at noon

    Local markets

    Thursday midday saw the JSE All Share up by 0.63% with gains in resource shares leading the upward movement.

    The rand had strengthened slightly against the US dollar at noon, exchanging at R7.02 to the dollar though still hovering near its lowest level in five weeks after new efforts by treasury to limit its strength.

    Gold cost $1 327.15 an ounce, rising 0.16% as a weaker dollar gave support and investors looked to the upcoming decision by the Federal Reserve on monetary easing.

    International markets

    Yesterday the Dow Jones slipped 0.39% while the Nasdaq edged up 0.24% as investors had mixed expectations of how the US Federal Reserve planned to stimulate the economy.

    The Japanese Nikkei index fell 0.22% this morning, its lowest close in six weeks after the Bank of Japan announced details of its asset-buying scheme, which failed to properly stimulate buying.

    Hong Kong’s Hang Seng managed to gain 0.20% despite the influence of a weak close on US markets, as investors took confidence in record profits from top Chinese banks.

    Gains in commodity shares saw Britain’s FTSE 100 rise 1.07% by midday, with energy giant Shell amongst the top movers upwards.

    Share price news

    Gaining 6.48% by midday was Litha Healthcare Group Limited (LHG) whose shares rose to R2.30 after investors traded 685 550 shares in 34 deals. Litha announced this morning that they have entered into negotiations that could affect the share price.

    In the metals and minerals sector, BHP Billiton PLC (BIL) rose 2.25% to sell at R245.00 a share at noon, after 719 deals exchanged 1 046 521 shares.

    Platinum producer Wesizwe Platinum Limited (WEZ) lost 8.39% after investors sold 129 681 shares in 16 deals, sending the share price sliding to R1.42.

    Murray and Roberts Holdings Limited (MUR) in the construction sector fell 2.95% to R42.70 after 968 670 shares were traded in 407 deals.

    Permalink2010-10-28, 12:11:48, by Natalie Email , Leave a comment

    JSE edges down ahead of finance minister’s budget speech

    Local markets

    At noon on Wednesday, the JSE All Share had fallen 0.10% as investors acted cautiously ahead of Finance Minister Pravin Gordhan's Medium-Term Budget Policy Statement to be made later today.

    The rand was selling at R7.00 to the US dollar, weakening slightly before the release of inflation data, which may support further interest rate cuts. Today’s Budget Policy Statement may also signal changes in exchange rate policy.

    Oil cost $82.37 a barrel at noon, recovering 0.45% after the price took a hit from a firmer dollar and higher-than-expected crude oil inventories.

    International markets

    On US markets yesterday, the Dow Jones inched up 0.05% at its close, while the Nasdaq edged up 0.26% before midterm elections and next week’s meeting of the US Federal Reserve.

    Japan’s Nikkei average closed 0.10% higher this morning, after falls in other Asian markets and losses in Japanese banking shares spurred investors to take profits.

    China's Shanghai Composite Index fell 1.46% after commodity prices dropped and weighed on shares.

    Britain’s FTSE 100 had slipped 0.44% by midday, as a strengthening US dollar put pressure on commodity shares.

    Share price news

    Gold miner Pan African Resource PLC (share code: PAN) rose 2.94% to R1.05 at noon, after 45 900 shares were traded in 9 deals.

    After 559 deals that totaled 1097888 shares, Murray and Roberts Holdings Limited (MUR) climbed 2.15% to sell at R45.13 a share. M&R announced this morning that their order book had improved by 16% to R49 billion in the quarter ended 30 September 2010.

    In the electrical equipment sector, Delta EMD Limited (DTA) fell to R9.99 a share, a loss of 3.48% after investors traded 85 182 shares in 12 deals.

    Gold One International Limited (GDO) lost 2.45% after 20 deals exchanged 126 500 shares, sending the share price down to R2.39 around midday.

    Permalink2010-10-27, 12:24:48, by Natalie Email , Leave a comment

    Losses in basic materials, resources lead JSE downwards

    Local markets

    The JSE All Share had fallen 0.75% by midday on Tuesday, with losses in basic materials and resources leading the downward slide.

    The rand was steady at around R6.90 to the US dollar at noon, after the euro could not continue at the $1.40 level which weighed on the local currency.

    Gold cost $1 335.69 an ounce, falling 0.30% by 12:00 as physical buyers were cautious ahead of potential monetary easing by the US Federal Reserve.

    International markets

    The Dow Jones rose 0.28% while the Nasdaq gained 0.46% yesterday on US markets, after the dollar weakened and investors expected additional stimulus by the Federal Reserve.

    In Japan, the Nikkei index lost 0.25% this morning at its close, after the yen almost reached a record high against the dollar.

    Investors were wary before the release of most corporate earnings.
    China’s Shanghai index gained 2.24% this morning, while Hong Kong’s
    Hang Seng lost 0.11% after investors took profits after recent gains in insurance, coal and metals shares.

    Bank and commodity shares lost ground this morning in Britain, sending the FTSE 100 down by 0.84% at midday SA time.

    Share price news

    In the construction sector, Aveng Limited (share code: AEG) rose 0.90% after investors traded 1 534 421 shares in 647 deals, sending the share price up to R43.94 at noon.

    After 116 deals of 100 473 shares, construction firm Group Five Limited (GRF) rose 1.41% to sell at R38.24 a share.

    Esorfranki Limited (ESR) fell 3.37% to R2.01 a share, after 21 deals exchanged 134 561 shares. Esorfranki released their interim results this morning, noting that revenue had fallen 26% in the six months ended 31 August 2010.

    Steel company ArcelorMittal SA Limited (ACL) fell 2.34% after investors sold 2 164 560 shares in 742 deals, which saw the share price slide to R81.35 at midday. ArcelorMittal released their unaudited group earnings this morning, announcing “significantly lower” earnings compared to last quarter.

    Permalink2010-10-26, 12:17:16, by Natalie Email , Leave a comment

    Global markets up after G20 meeting

    Local markets

    Noon on Monday saw the JSE All Share up 0.66% following gains on global markets, after finance ministers and central bankers at the G20 meeting signaled that they won’t devalue their currencies.

    The rand was trading at R6.89 to the US dollar at 12:00, as the dollar weakened on after the weekend’s G20 meeting.
    Brent crude oil cost $83.06 a barrel at midday, up 2.54% as the dollar sunk to new 15-year lows after the G20 meeting.

    International markets

    On US markets on Friday, the Dow Jones fell 0.13% while the Nasdaq rose 0.80% after the release of more positive corporate earnings.

    In Japan, the Nikkei index fell 0.27% after the yen strengthened to a 15-year high against the dollar, but trading was moderate as investors were cautious of commitment before the main earnings period.

    In Europe, gains in basic resources came after G20 nations agreed not to engage in competitive currency devaluations. Germany’s DAX had risen 0.65% while France’s CAC40 had lifted 0.46% by midday.

    In Britain, the FTSE 100 was 0.59% up at noon, as stronger mining shares led the bourse higher in line with global markets.

    Share price news

    Foneworx Holdings Limited (FWX) rose to R1 a share, a gain of 5.26% after 90 386 shares were traded in 11 deals by midday.

    Metorex Limited (MTX) rose 3.09% to R4.34 a share, after investors exchanged 508 470 shares in 139 deals.

    Diamond firm Trans Hex Group Limited (TSX) fell to R3.30, a loss of 8.59% after 89 deals traded 222 476 shares. Trans Hex reported this morning an expected R103 million loss for the six months ended 30 September 2010.

    After 190 320 shares were traded in 44 deals by noon, Wesizwe Platinum Limited (WEZ) fell to R1.49 a share, a loss of 1.97%.

    Permalink2010-10-25, 12:36:21, by Natalie Email , Leave a comment

    Global markets cautious ahead of G20 meeting

    Local markets

    Just after midday the JSE had fallen 1.21% with losses in gold miners leading the downward slide, as investors took profits after yesterday’s gains.

    The rand was trading at R6.95, recovering from part of its losses overnight in quiet trade before this weekend’s G20 meeting.

    Oil cost $81.67 a barrel, up 0.83% after employment and business activity data indicated that extra stimulus was needed.

    International markets

    The Dow Jones closed 0.35% higher yesterday, with the Nasdaq inching up 0.09% in a mixed session as solid earnings were slightly offset by a stronger US dollar.

    This morning, the Japanese Nikkei rose 0.54%, recovering after two sessions of losses, but further gains were limited by caution ahead of the G20 meeting.

    Hong Kong’s Hang Seng fell 0.56% contrary to analysts expectations of gains following strong corporate earnings and continued capital inflows.

    Britain’s FTSE had dipped 0.51% by midday, as losses in mining shares saw the bourse drift away from a six-month high.

    Share price news

    Litha Healthcare Group (LHG) saw 183 283 shares traded in 41 deals, raising the share price 2.50% to R2.05 after midday.

    Investors exchanged 1 524 391 Pick N Pay Stores Limited (PIK) shares in 747 deals, which saw the share price climb 1.49% to R43.64.

    Sacoil Holdings Limited (SCL) fell 8.75% to sell at R1.46 around noon, after 172 deals exchanged 2 491 489 shares.

    Aspen Pharmacare Holdings (APN) saw shares fall 3.18% after investors traded 232 597 shares in 543 deals, which left the share price down to R90.72.

    Permalink2010-10-22, 12:33:58, by Natalie Email , Leave a comment

    Industrial shares lead JSE upwards at midday

    Local markets

    On Thursday at midday, the JSE All Share had risen 0.62% following positive movements on US markets, with industrial shares leading gains.

    The rand was trading at R6.88 to the US dollar at 12:00, remaining steady at its overnight levels.

    Gold cost $1 345.15 an ounce, inching down 0.03% after the dollar rebounded on defensive comments by US Treasury Secretary Tim Geithner.

    International markets

    Yesterday the Dow Jones climbed 1.18% while the Nasdaq gained 0.84% on rising industrial and commodity-linked shares, after the dollar fell and more solid corporate earnings were released.

    Japan’s Nikkei index fell 0.05% at its close this morning, despite the strengthening of the dollar against the yen on comments by the US Treasury Secretary.

    Hong Kong’s Hang Seng closed 0.39% higher after strong GDP and inflation data from the Chinese mainland.

    Britain’s FTSE 100 had risen 0.60% by noon due to gains in mining and bank shares after positive corporate results from the US and Europe.

    Share price news

    Merafe Resources Limited (MRF) rose 4.44% to sell at R1.41 a share at midday. Investors had traded 1 602 723 shares in 76 deals.

    Grand Parade Investments Limited (GPL) had gained 5.37% as shares rose to R2.55 after 24 deals traded 368 331 shares.

    Losing 1.60% by midday was Redefine Properties International Limited (RIN), whose shares fell to R6.15 after investors exchanged 1 374 982 shares in 82 deals.

    After 604 deals that sold 3 582 395 shares, Old Mutual PLC (OML) shares slid 1.67% to R14.74 at noon.

    Permalink2010-10-21, 12:18:56, by Natalie Email , Leave a comment

    Surprise hike in Chinese interest rate weighs on global markets

    Local markets

    The JSE All Share was 0.03% lower at midday, following international markets after yesterday’s surprise interest rate hike in China pressured world equities.

    The rand was trading at R6.94 by noon, recovering after yesterday’s losses which came on the back of increasing risk aversion after China’s rate hike.

    Oil was selling at $81.37 a barrel at midday, up 0.46% rebounding after the previous session’s losses after China’s interest rate news.

    International markets

    Yesterday, fears that fears banks might face defaults on billions of dollars in mortgage bonds sent US markets sliding. The Dow Jones lost 1.48% while the Nasdaq fell 1.76%.

    Japan’s Nikkei average closed 1.65% lower this morning on profit taking after China unexpectedly raised interest rates.

    Just after midday, Germany’s DAX index had risen 0.13% while France’s CAC40 inched up 0.21%. European shares rose after minutes from the latest Bank of England Monetary Policy Committee supported hopes of further easing.

    Britain’s FTSE 100 was 0.10% up at midday, recovering after initial losses as gains in mining shares offset losses in energy stocks.

    Share price news

    Sacoil Holdings Limited (share code: SCL) rose 17.36% to R1.42 at midday, after investors exchanged 1 376 149 shares in 123 deals.

    After 10 deals that saw the trade of 7 769 357 shares, Country Bird Holdings (CBH) in the farming and fishing sector rose 7.69% to sell at R2.80 a share.

    Shares in Gold One International Limited (GDO) fell to R2.35, a loss of 5.24% after 159 933 shares were traded in 14 deals.

    DRD Gold Limited (DRD) slid to R3.46 after 51 deals sold 243 752 shares, resulting in a loss of 2.54% in share price.

    Permalink2010-10-20, 12:38:38, by Natalie Email , Leave a comment

    Oil and gas shares lead JSE gains

    Local markets

    At midday, the JSE All Share had risen 0.53% with gains in oil and gas shares leading the upward movement.

    The rand was selling at R6.90 to the US dollar at 12:00, slightly weaker but remaining range bound, following in the footsteps of a weaker euro.

    Precious metal gold cost $1 367.90 an ounce at noon, edging down 0.09% after the dollar strengthened.

    International markets

    Yesterday on US markets, the Dow Jones rose 0.73% while the Nasdaq edged up 0.48% after better than expected profit figures from Citigroup eased foreclosure anxiety in the finance sector.

    In Japan, the Nikkei closed 0.43% higher this morning, with gains in banking shares after the release of Citigroup results.

    China's Shanghai index climbed 1.58% after rising coal and new energy stocks offset losses in steel producers.

    In Britain, the FTSE 100 had recovered 0.10% after earlier losses in miners and technology stocks as bank shares gained strength.

    Share price news

    Sacoil Holdings Limited (share code: SCL) climbed 5.26% to sell at R1.20 a share at noon, after 777 364 shares were traded in 61 deals.

    Mr Price Group Limited (MPC) rose to R58.60 a share, a gain of 3.72% as investors exchanged 853 301 shares in 548 deals.

    Investment bank Cadiz Holdings Limited (CDZ) fell to R3.26, a loss of 4.12% after 52 444 shares were sold in 13 deals.

    After 383 deals that exchanged 1 045 568 shares, Telkom SA Limited (TKG) fell to R36.80 a share, a loss in price of 1.68%.

    Permalink2010-10-19, 12:19:08, by Natalie Email , Leave a comment

    JSE slides, global markets mixed

    Local markets

    At noon on Monday, the JSE All Share had slipped 0.05% after mixed trade in line with international markets, and falling commodity prices weighed on resource shares.

    The rand was trading at R6.86 to the US dollar, after the American greenback firmed on speculation that stimulus from the US Federal Reserve may not be sufficient to boost the recovering economy.

    Gold cost $1 361.35 an ounce, falling 0.65% after the dollar rebounded on US economic stimulus concerns.

    International markets

    On Friday in the US, the Dow Jones lost 0.29% while the Nasdaq rose 1.37%. Markets were mixed after uncertainty surrounding the US Federal Reserve economic stimulus measures.

    In Japan, the Nikkei average edged down 0.02% this morning, weighed on by a stronger yen and looming corporate earnings season.

    In China, the Shanghai index lost 0.54% after recent gains, while Hong Kong’s Hang Seng fell 1.21% at its close.

    The British FTSE 100 had edged up 0.08% around midday, with gains in mining shares supporting the index.

    Share price news

    Litha Healthcare Group Limited (share code: LHG) rose 7.03% to R1.98 a share after investors traded 436 935 shares in 60 deals by noon.

    In the chemicals sector, Spanjaard Limited (SPA) gained 6.06% after 13 deals exchanged 119 691 shares, sending the share price up to R3.85.

    Wescoal Holdings Limited (WSL) lost 3.08% as shares fell to R1.26 after investors traded 106 325 shares in 5 deals.

    After 30 deals totaling 494 425 shares, construction firm Esorfranki Limited (ESR) fell to R2.05 at noon, a loss of 1.91%.

    Permalink2010-10-18, 12:35:36, by Natalie Email , Leave a comment

    JSE slides as Nedbank and Old Mutual shares fall

    Local markets

    At noon on Friday, losses in financial shares led the downward slide, leaving the JSE All Share 0.53% lower. Nedbank and Old Mutual lost ground after rumours that HSBC may cancel its bid to take over Nedbank.

    The rand was trading at R6.80 to the US dollar at 12:00, continuing its strength as investors remained interested in high-yielding assets.

    Brent crude oil cost $83.44 a barrel, up 0.53% ahead of the US Federal Reserve chairman’s speech which is likely to signal the prevailing economic outlook.

    International markets

    Yesterday, the Dow Jones edged down 0.01% while the Nasdaq dipped 0.24% after banks fell on fears of a widespread foreclosure crisis in the US.

    Japan’s Nikkei average finished 0.87% lower this morning, as investors took profits and financial stocks followed US markets lower on foreclosure worries.

    In China, the Shanghai index climbed 3.18% to record its best weekly gain since February 2009 after a rally in bank shares.

    Britain's FTSE 100 had edged down 0.11% just before midday, after losses in insurer shares and investors remain cautious ahead of Federal Reserve Chairman Ben Bernanke’s speech later today.

    Share price news

    After 50 deals exchanged 99 673 shares, diamond company Trans Hex Group Limited (share code: TSX) rose 3.86% to sell at R3.50 a share at midday.

    Also amongst the top movers upwards was computer services company Datacentrix Holdings Limited (DCT), whose shares rose to R4.60, a gain of 2.22% after investors traded 1 277 112 in 8 deals.

    Nedbank Group Limited (NED) lost 8.58% as shares fell to R134.20, after 5 833 542 shares were exchanged in 4 266 deals this morning.

    After 15 838 566 shares were sold in 1 979 deals, Old Mutual PLC (OML) fell to R15 a share, a loss in share price of 5.30%.

    Permalink2010-10-15, 12:18:17, by Natalie Email , Leave a comment

    Global markets positive ahead of earnings season

    Local markets

    At 12:00 on Thursday, the JSE All Share had edged up 0.02% on higher commodity prices and a weakening dollar-euro exchange rate.

    The rand was trading at R6.76 to the US dollar at noon, with traders anticipating further strengthening.

    Gold had risen 0.45% to cost $1 377.90 an ounce, reaching a record high as the euro pushed past €1.41 to the US dollar.

    International markets

    On US markets yesterday, the Dow Jones closed 0.69% higher while the Nasdaq rose 0.96% after corporate earnings were better than expected and dollar weakness raised appetite for shares.

    Japan’s Nikkei average rose 1.91% to reach its best level in a month, after firmer commodity prices spurred buying of resource stocks.

    Germany’s DAX had risen 0.58% around noon while France’s CAC40 had edged up 0.20%, thanks to gains in mining shares as well as positive expectations for US monetary easing and solid corporate profits.

    Britain's FTSE 100 had lost 0.13% by midday SA time, eroding earlier gains in mining shares after stronger commodity prices.

    Share price news

    Rising 6.25% to sell at R1.02 a share at midday was Sacoil Holdings Limited (share code: SCL) in the oil sector, after investors traded 749 152 shares in 49 deals.

    Litha Healthcare Group Limited (LHG) climbed 4.60% to R1.82 a share, after 47 deals exchanged 456 948 shares.

    Losing 2.70% was gold miner Pan African Resources PLC (PAN) whose shares fell to R1.08 after 1 226 383 shares were sold in 73 deals.

    116 deals saw the trade of 1 478 665 Merafe Resources (MRF) shares, which sent the share price down 3.36% to R1.44 a share at noon.

    Permalink2010-10-14, 12:25:41, by Natalie Email , Leave a comment

    Possible monetary easing by US Federal Reserve boosts sentiment

    Local markets

    At midday on Wednesday, gains almost across the board supported a 1.09% rise in the JSE All Share, as global markets were lifted by positive sentiment.

    The rand-US dollar exchange rate was R6.82 at 12:00, remaining steady around its overnight levels.

    Gold cost $1 360.05 at noon, up 0.72% as a weaker dollar provided support, after a US Federal Reserve meeting indicated that monetary easing might be needed in the near future.

    International markets

    On US markets, the Federal Reserve indicated that the central bank may once again flood markets with cheap cash to revive economic recovery. The Dow Jones ended 0.09% higher, while the Nasdaq gained 0.65%.

    In Japan, the Nikkei average edged up 0.16% at its close this morning after positive forecasts by Intel Corp improved sentiment and led to short-covering by investors.

    Hong Kong’s Hang Seng rose 1.45% to reach its highest level in 28 months after gains in blue-chip shares and rebounding property shares.

    Britain's FTSE 100 had risen 1.32% by midday SA time, as gains in commodity shares came after optimistic economic data from Asia, and possible further monetary easing in the US raised risk appetite.

    Share price news

    After 10 deals totaling 13 875 029 shares, Grand Parade Investments Limited (share code: GPL) rose to R2.45 at noon, a gain of 4.26%.

    In the metals and minerals sector, Petmin Limited (PET) rose 3.15% to R2.95 a share after 2 232 067 shares were traded in 47 deals.

    Mobile Industries ORD (MOB) in the shipping and ports sector fell to R2.62 a share, a loss of 1.13% as investors exchanged 22 221 shares in 4 deals.

    Construction firm Basil Read Holdings Limited (BSR) lost 0.95% as shares fell to R12.47 each at midday, after 38 466 shares were traded in 22 deals.

    Permalink2010-10-13, 12:30:43, by Natalie Email , Leave a comment

    Losses in resource shares lead JSE down

    Local markets

    The JSE All Share was 0.51% lower at noon on Tuesday, following movements on global markets. Resources led losses as investors took profits and commodity prices fell.

    The rand was selling at R6.92 to the US dollar around midday, after the dollar strengthened and the rand following a weaker euro.

    Oil fell 0.53% to sell at $82.56 a barrel, after Opec looked likely to continue current production levels at the group's meeting towards the end of this week.

    International markets

    Yesterday, the Dow Jones edged up 0.04% while the Nasdaq clung on to a 0.02% gain after the lightest trading volume of the year on Monday. Investors were cautious ahead of key company results due this week.

    In Japan, the Nikkei index lost 2.09% at its close this morning, after the yen rose to new 15-year highs against the dollar. Investors were cautious ahead of possible intervention in the currency markets.

    Hong Kong’s Hang Seng fell 0.37% as investors took profits after recent gains in property companies, and Chinese banks fell after a report that China has for the moment raised the reserve requirement for six mainland lenders.

    The British FTSE 100 had fallen 0.84% just before noon, after disappointing news from the oil exploration sector and investors act cautiously before news of fresh stimulus measures in the US.

    Share price news

    Gaining 4.08% to sell at R1.02 at midday was Pan African Resources PLC (PAN) in the gold mining sector, after 1 458 330 shares were traded in 53 deals.

    Naspers Limited (NPN) in the broadcasting contractors sector rose 3.79% to R348.20 a share, after 2207 deals exchanged 1 704 081 shares.

    Losing 16.67% by noon was Silverbridge Holdings Limited (SVB), whose shares fell to R1.60 after 152 054 shares were sold in 14 deals. Silverbridge announced this morning that EPS and HEPS for the six months ended 31 August 2010 are expected to decline in comparison to the same period last year.

    Insurance brokers Glenrand MIB Limited (GMB) fell 3.12% to R1.55 a share, after 8 deals exchanged 119 157 shares by midday.

    Permalink2010-10-12, 12:14:18, by Natalie Email , Leave a comment

    Global markets up on hopes for further stimulus in US

    Local markets

    At midday on Monday, the JSE All Share had risen 0.23% despite losses in resource and oil and gas shares, as the local bourse looked to stronger US markets for direction.

    The rand was trading at R6.87 to the US dollar at noon, mostly unchanged from weekend levels after thin trade.

    Oil had gained 1.12% to sell at $83.93 a barrel, on hopes that the US Federal Reserve would announce new economic stimulus measures.

    International markets

    On Friday on US markets, the Dow Jones closed 0.53% higher while the Nasdaq climbed 0.77% after weak jobs data provided further motivation for a monetary injection by the US Federal Reserve.

    The Nikkei was closed today for a public holiday in Japan.

    In Hong Kong, the Hang Seng closed 1.15$ higher this morning, reaching above a 2-year peak and leading a general rally in Asian equities.

    In Britain, the FTSE 100 had edged up 0.24% just before midday as investors anticipated further stimulus by the US Federal Reserve after Friday’s weak jobs report.

    Share price news

    Amongst the top movers up at midday was Coal of Africa Limited (share code: CZA) whose shares rose to R9.88, a gain of 5.89% after 175 455 shares were traded in 35 deals.

    Brait SA (BAT) in the investment bank sector rose 3.02% to R23.50 a share, after investors exchanged 126 685 shares in 85 deals by noon.

    In the construction sector, Aveng Limited (AEG) fell 3.50% to R40.55, after 368 deals saw the trade of 271 215 shares.

    After 939 deals of 3 781 782 shares, Firstrand Limited (FSR) slid to R20.53 a share, a loss of 2.14%.

    Permalink2010-10-11, 12:19:21, by Natalie Email , Leave a comment

    Global markets wary ahead of US employment data

    Local markets

    On Friday at 12:30, the JSE All Share had lost 0.26% as investors act cautiously ahead of US employment statistics due later today.

    The rand had weakened fractionally to trade at R6.92 to the US dollar, as the market awaits the key US employment data due later.

    Gold fell 0.54% to $1 325.45 an ounce after a rebound in the dollar, as investors expect new stimulus measures from the US Federal Reserve.

    International markets

    Yesterday, the Dow Jones lost 0.17% while the Nasdaq ended flat, up 0.13% after US markets were pressured by losses in commodities and a firmer dollar.

    Japan's Nikkei index fell 0.99% this morning after the yen rose to almost a 15-year high against the dollar, and as investors took profits after recent gains.

    In China, the Shanghai index closed 3.13% higher as investors returned from a public holiday. In Hong Kong, the Hang Seng also gained slightly, edging up 0.26% by its close.

    Britain’s FTSE 100 had slipped 0.50% by 12.30, with losses in banks offsetting gains in mining shares, as investors watch out for September’s US non-farm payrolls report.

    Share price news

    South Ocean Holdings Limited (share code: SOH) soared 12.37% this morning to sell at R2.18 a share at 12.30, after 117 400 shares were traded in 20 deals.

    Petmin Limited (PET) rose to R2.84, a gain of 3.27% after investors exchanged 45 750 shares in 10 deals.

    DRDGold Limited (DRD) fell 3.69% to R3.65 after 37 deals exchanged 113 893 shares.

    After 227 deals of 417 431 shares, Sappi Limited (SAP) lost 2.32% as shares fell to R34.58 each just after midday.

    Permalink2010-10-08, 12:46:01, by Natalie Email , Leave a comment

    JSE flat; awaits US jobs data for direction

    Local markets

    At 12:30 on Thursday, the JSE All Share had risen 0.27% as investors were on the lookout for the release of US jobs data tomorrow for direction.

    The rand was trading at R6.85 to the US dollar, strengthening slightly as the dollar continued to come under pressure.

    Brent crude oil cost $85.14 a barrel, up 1.36% as investors anticipate central banks will ease monetary policy to revive economic recovery.

    International markets

    Yesterday on US markets, the Dow Jones edged up 0.21% while the Nasdaq fell 0.80% after tech shares were hit by concerns about demand for semiconductors and data storage.

    Japan's Nikkei index slid 0.07% at its close this morning, as investors factored in the Bank of Japan’s surprise rate cut on Tuesday.

    European shares were mixed just after midday, with France’s CAC40 up 0.33% and Germany’s DAX down 0.14% ahead of interest rate decisions and policy indications from the European Central Bank.

    Britain's FTSE 100 was 0.19% up after gains in pharmaceuticals managed to offset losses in bank shares, as investors awaited interest rate decisions from the Bank of England.

    Share price news

    Redfine Property International Limited (share code: RIN) had gained 4.38% by 12.30 to sell at R6.20 a share, after 585 706 shares were traded in 35 deals.

    Coal of Africa Limited (CZA) rose 4.05% to R9 after 22 deals exchanged 114 688 shares.

    Builders’ merchants Winhold Limited (WNH) fell to R1.31 a share, a loss of 2.96% after 518 630 shares were sold in 14 deals.

    After 611 deals in which 1 105 776 shares were traded, Steinhoff International Holdings Limited (SHF) fell 1.23% to R20.84 a share.

    Permalink2010-10-07, 13:12:55, by Natalie Email , Leave a comment

    Global markets strengthen on hopes for further stimulus

    Local markets

    On Wednesday at midday, the JSE All Share had risen 0.82% with gains in basic materials shares leading the upward movement. However, gold mining and industrial stocks were losing ground.

    The rand was exchanging at R6.88 to the US dollar, strengthening slightly as the dollar weakened.

    Gold climbed 0.46% to cost $1 346.20 an ounce at noon, selling at a record high after dollar weakness and on expectations that the US Federal Reserve may ease policy.

    International markets

    Yesterday, the Dow Jones gained 1.80% and the Nasdaq soared 2.36% as investors became more convinced that central banks would further boost weak economic recovery worldwide.

    Japan’s Nikkei average climbed 1.81% this morning to reach its highest close in two months after the Bank of Japan's credit easing boosted financial and property shares.

    Hong Kong’s Hang Seng rose 1.07%% despite technically overbought conditions, taking a lead from gains on US markets on hopes of further intervention by international central banks.

    The FTSE 100 had risen 1.02% by midday Johannesburg time, on hopes for further stimulus measures worldwide, which spurred gains in commodity shares.

    Share price news

    Gold One International (share code: GDO) had risen 5.79% to R2.01 a share by midday, as 187 063 shares were traded in 18 deals.

    In the metals and minerals sector, Anglo American PLC (AGL) saw the exchange of 4 973 707 shares in 3 633 deals, which boosted the price by 3.27% to sell at R301.25.

    After 78 deals exchanged 563 694 shares, Esorfranki Limited (ESR) in the construction sector experienced a 4.12% loss as shares fell to R1.86 each.

    Shares in Jasco Electronics Holdings Limited (JSC) slid 2.26% to R1.30 at noon, after investors traded 149 937 shares in 7 deals.

    Permalink2010-10-06, 12:13:00, by Natalie Email , 1 comment

    JSE up after investors consolidate gains

    Local markets

    Tuesday noon saw gold mining shares leading the JSE All Share up 0.17x% higher after yesterday’s profit taking, as investors consolidated gains.

    The rand was trading at R6.99 to the US dollar, following a weaker euro-dollar exchange rate.

    Gold cost $1 325.32 an ounce at 12:00, recovering 0.78% after a recent dip as Asian jewelers bought the physical precious metal.

    International markets

    On US markets, the Dow Jones fell 0.72% while the Nasdaq lost 1.11% yesterday after profit taking, and as neutral economic data and euro zone debt concerns spurred selling.

    The Japanese Nikkei rose 1.47% this morning after the Bank of Japan effectively reduced interest rates to zero, which softened the yen and boosted exporters.

    Hong Kong’s Hang Seng ended flat, edging up 0.09% as investors felt conditions were overbought, and were influenced by losses on US markets.

    Britain's FTSE 100 had risen 0.52% by noon, after gains in banks and oil shares offset losses in mining stocks.

    Share price news

    At midday, UCS Group Limited (share code: UCS) in the software sector had gained 5.13% as shares rose to R2.05 each, after investors traded 27 100 shares in 4 deals.

    Also amongst the top movers up was 1time Holdings Limited (1TM), as investors exchanged 44 451 shares in 2 deals, sending the share price up 2.97% to R1.04.

    Blue Label Telecoms Limited (BLU) fell 2.33% to R6.29 a share, after 69 deals sold 5 547 546 shares.

    In the construction sector, Murray and Roberts Holdings Limited (MUR) lost 1.51% after 644 521 shares were exchanged in 440 deals, which saw the share price fall to R44.32 at noon.

    Permalink2010-10-05, 12:12:10, by Natalie Email , Leave a comment

    Losses in gold miners weigh on JSE


    Local markets

    Gold mining shares had lost 0.84% by noon on Monday, dragging the JSE All Share down 0.02%.

    The rand was selling at R6.95 per US dollar at 12:00, remaining near last week's highest rate in two-and-a-half years.

    Brent crude oil was selling at $83.40, up 1.71% on hopes that US economic recovery will trigger a monetary boost that would increase energy consumption.

    International markets

    On Friday, US markets rallied on gains in resource stocks after the release of positive Chinese manufacturing data. The Dow Jones closed 0.39% higher while the Nasdaq inched up 0.09%.

    Japan’s Nikkei fell 0.25% this morning, ahead of a Bank of Japan policy decision that investors expect will ease the market.

    Hong Kong's Hang Seng rose to end 1.17% higher this morning, thanks to gains in oil-related shares such as CNOOC Ltd.

    Britain’s FTSE 100 had lost 0.64% by noon SA time, due to losses in energy shares and falling investor confidence before the release of economic data later this week.


    Share price news

    Micromega Holdings Limited (share code: MMG) in the business support services sector rose 10.74% to R1.65 at noon, after 2 deals traded 28 000 shares.

    After 48 500 shares were exchanged in 14 deals, shares in Anooraq Resources Corporation (ARQ) climbed 8.49% to sell at R7.28.

    Clicks Group Limited (CLS) fell 2.50% to R41.65 a share, after investors sold 691 160 shares in 649 deals.

    Losing 1.99% at midday was Mr Price Group Limited (MPC) whose share price fell to R53.80 after 334 deals traded 190 539 shares.

    Permalink2010-10-04, 13:48:04, by Natalie Email , Leave a comment

    JSE slides despite gains on global markets

    Local markets

    On Friday at noon, losses practically across the board had dragged the JSE All Share down 0.38%. Resource shares bucked the trend, edging up 0.24% by lunch.

    12:00 saw the rand sell at Rx to the US dollar, strengthening fractionally ahead of the weekend.

    Oil climbed 3.9% to $82.42 a barrel, returning to above $80 to reach a new seven-week high. Investor confidence was given a boost after better-than-expected economic data from the US and China.

    International markets

    On Thursday the Dow Jones closed 0.44% lower, while the Nasdaq lost 0.33%, though US markets ended their best quarter in a year, after data showed the economy was healthier than expected.

    The Japanese Nikkei rose 0.37% this morning on short-covering after yesterday’s slide and better-than-expected US economic data.

    European markets looked optimistic at midday, after gains in the energy sector and positive Chinese manufacturing data. France’s CAC40 had risen 0.53% while the German DAX lifted 0.75%.

    Britain’s FTSE 100 had gained 0.93% by noon, thanks to stronger energy shares after increasing confidence spurred a rise in crude prices.

    Share price news

    Diamond company Trans Hex Group Limited (share code: TSX) rose 2.35% to R3.48 a share at noon, after 87 deals traded 266 925 shares.

    In the electrical equipment sector, Arb Holdings Limited (ARB) rose 1.75% after investors exchanged 288 500 shares in 13 deals, which sent their share price up to R2.90.

    After 1 110 deals totaling 640 761 shares, Naspers Limited (NPN) fell 2.14% to sell at R333.52 at 12:00.

    Woolworths Holdings Limited (WHL) fell 2% to trade at R26.50, after 922 771 shares were exchanged in 346 deals.

    Permalink2010-10-01, 12:25:34, by Natalie Email , Leave a comment