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    JSE follows Asian markets upwards at midday

    Local markets

    At noon on Thursday, the JSE All Share had risen 1.08% as industrial stocks led across-the-board gains.

    The rand was trading at R6.97 to the US dollar, firming slightly before news of the central bank's interest rate decision at 1pm this afternoon.

    Gold had risen 1.62% to sell at $1 357.40 at midday, after the dollar rally took a breather after positive inflation news from the US.

    International markets

    US markets closed down yesterday, after the Dow Jones fell 1.59% and the Nasdaq dropped 1.75% as losses in financial stocks weighed in light-volume trade.

    In Japan, the Nikkei average climbed 2.06% this morning, closing above the 10,000 mark for the first time since end of June, as a weaker yen boosted financial shares.

    In Hong Kong, the Hang Seng rose 1.82% following gains in China and as investors bought up bargains in the financial and resource sectors.

    Britain’s FTSE 100 had risen 1.25% by midday SA time, as gains in commodity and bank shares lifted the index.

    Share price news

    Merafe Resources Limited (share code: MRF) had lifted 5.10% to R1.65 a share, after 4 815 267 shares were traded in 168 deals this morning.

    In the brewers sector, SABMiller PLC (SAB) had risen 3.56% to trade at R239.22 a share, after 1 644 950 shares were sold in 1 023 deals. SABMiller released their interim results this morning, reporting a group revenue increase of 7% for the six months ending 30 September 2010.

    Firstrand Limited (FSR) had lost 1.17% by noon, after 1 370 deals traded 10 078 723 shares, sending the share price down to R21.94.

    Falling 1.15% to R41.96 a share was Capital Shopping Centres Group PLC (CSO), after investors exchanged 305 423 shares in 202 deals.

    Permalink2010-11-18, 12:12:47, by Natalie Email , Leave a comment
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