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    Mixed global markets as investors eye G20 meeting

    Local markets

    Thursday noon saw the JSE All Share up 0.20%, thanks to solid gains in the gold mining and basic materials sector after bargain hunting.

    The rand was trading at R6.88 to the US dollar at 12:00, staying within a range and following euro-dollar movement, as investors eye the G20 summit that begins today in Seoul, South Korea.

    Gold cost $1 412.65 an ounce, rising 0.81% due to physical demand and as investors closely watched the G20 summit for currency signals.

    International markets

    Yesterday, the Dow Jones edged up 0.09% while the Nasdaq rose 0.62%, as investors sought bargains such as bank shares and betted on a continuation of the overall rally.

    Japan’s Nikkei average rose 0.31% this morning, supported by a weaker yen, though further gains were limited by profit taking and technical selling.

    China’s Shanghai index climbed 1.04% while Hong Kong’s Hang Seng rose 0.82% as banking and resource shares gained.

    Britain’s FTSE 100 had fallen 0.14% by midday as investors were cautious as the G20 meeting begins today, eroding earlier gains from mining shares.

    Share price news

    Anglogold Ashanti Limited (share code: ANG) had risen by 3.38% at midday to sell at R361.70 a share. Investors traded 451 667 shares in 1 270 deals after Ashanti revealed a new gold discovery, Tropicana in Australia.

    After 573 149 shares were exchanged in 1 083 deals, The Spar Group Limited (SPP) rose 2.28% to R99.21 a share at noon.

    Losing ground was African Bank Investments Limited (ABL), whose shares had fallen 2.17% to R36 after 1 295 026 shares were sold in 847 deals.

    RMB Holdings Limited (RMH) saw the trade of 486 613 shares in 677 deals this morning, leading to a loss of 1.84% as the share price slid to R36.81 at midday.

    Permalink2010-11-11, 12:45:35, by Natalie Email , Leave a comment
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