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    Losses in basic materials, gold miners lead JSE down

    Local markets

    The JSE All Share had fallen 0.38% by noon on Friday, as losses in basic materials and gold mining shares led the local bourse downwards.

    The rand had edged up to R6.95 to the US dollar, recovering after weakening slightly following yesterday’s rate cut announcement.

    Brent crude oil had risen 1.74% to sell at $85.46 a barrel, as investor confidence improved somewhat after a better outlook for Ireland's debt crisis.

    International markets

    Yesterday US markets were mixed as the Dow Jones closed 1.59% lower, and the Nasdaq gained 1.80%, though reactions to the possible resolution of Ireland's banking crisis were generally positive.

    Japan’s Nikkei index edged up 0.09% this morning, closing above 10,000 points for a second session, after international hedge fund inflows and a weaker yen.

    China's Shanghai index rose 0.81% to continue the recent rally into its third day, led by technology stocks. Gains were limited by worries over possible further monetary tightening.

    Britain's FTSE 100 had slipped 0.57% by noon, retreating after yesterday’s solid gains, as investors await news of resolution of the Irish debt situation.

    Share price news

    First Uranium Corporation (share code: FUM) rose 7.69% to R7.70 a share, after 15 000 shares were traded in 2 deals.

    After 3 deals exchanged 19 200 shares by midday, Business Connexion Group Limited (BCX) climbed 3.91% to sell at R6.65 a share.

    MR Price Group Limited (MPC) fell 1.92% after investors traded 755 799 shares in 1 064 deals, sending the share price down to R63.47.

    In the paper sector, Mondi PLC (MNP) lost 1.61% as shares fell to R55.07 each after 232 517 shares were sold in 205 deals this morning.

    Permalink2010-11-19, 12:26:37, by Natalie Email , Leave a comment
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