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    Ireland, China worries see global markets fall

    Local markets

    At midday on Wednesday, the JSE All Share had fallen 0.26% as the stronger dollar took its toll on gold mining and resources shares.

    The rand was exchanging at R7.03 to the US dollar, weakening further as Irish debt concerns saw investors becoming more risk averse.

    Brent crude oil had fallen 0.24% to $83.80 a barrel, after rumours that China will continue to take measures to slow their economy, and Irish debt worries added to negative sentiment.

    International markets

    Yesterday the Dow Jones fell 1.59% and the Nasdaq tumbled 1.75% as investors worried about the possibility of more European bailouts and tighter inflation controls in China.

    In Japan, the Nikkei index closed 0.15% higher this morning, as investors bought bargains in exporter shares as the yen softened against the dollar.

    Hong Kong’s Hang Seng index dived 2.02% on anxiety that China is likely to
    Raise interest rates to try to halt accelerating inflation.

    In Britain, the FTSE 100 had edged down 0.09% as worries over Ireland’s debt problems and China’s possible inflationary measures made investors cautious.

    Share price news

    Merafe Resources Limited (share code: MRF) climbed 2.56% in share price to sell at R1.60 a share at midday, after 140 deals traded 5 756 983 shares.

    Shares in Stefanutti Stocks holdings Limited (SSK) in the construction sector rose to R11.50 a share, enjoying an increase of 2.77% after 46 deals exchanged 1 060 912 shares.

    Syfrets and Commercial Union Property Fund (SYC) in the real estate sector lost 3.43% in share price as shares traded at R22.50 at noon, after 337 592 shares were sold in 35 deals. Syfrets released their unaudited, condensed interim financial statements this morning.

    Gold One International Limited (GDO) fell to R2.48 a share, a loss of 2.75% after investors exchanged 316 199 shares in 32 deals.

    Permalink2010-11-17, 12:31:14, by Natalie Email , Leave a comment
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