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    Conflict in Asia, euro zone debt worries see markets slide

    Local markets

    Tuesday at noon saw the JSE All Share down 0.79%, tracking international equities and as losses in resource shares weighed on the local bourse.

    The rand was trading at R7.03 to the US dollar at midday, weakening further as investors’ risk appetite declined on debt worries in Europe.

    Gold cost $ 1 364.09 an ounce, edging down 0.18% though still sought out as a safe haven in light of renewed concern over Ireland's political situation.

    International markets

    On US markets, closes were mixed as the Dow Jones lost 0.22% yesterday while the Nasdaq gained 0.37%. Losses in bank shares pressured Wall Street, but tech stocks were given a boost after SanDisk Corporation and Amkor Technology Incorporated were upgraded.

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

    Asian markets fell this morning, after news of artillery fire between North and South Korea made investors nervous. China’s Shanghai index fell 1.94% while Hong Kong’s Hang Seng tumbled 2.67%.

    Britain’s FTSE 100 had slipped 0.58% by noon Johannesburg time, as losses in banks weighed on the index after renewed concern about the eurozone debt situation.

    Share price news

    Wesizwe Platinum Limited (share code: WEZ) had risen 2.58% to sell at R1.99 a share at midday, after investors sold 470 775 shares in 27 deals.

    In the packaging sector, Nampak (NPK) gained 2.20% after 137 deals traded 363 584 shares, which saw the share price rise to R20.44.

    Octodec Investments Limited (OCT) in the real estate sector had slipped 3.26% to R17.80 a share, after 92 865 shares were traded in 9 deals by midday.

    After 475 deals, investors had exchanged 288 350 shares in Exxaro Resources Limited (EXX), whose share price fell 2.17% to R130.99.

    Permalink2010-11-23, 12:29:21, by Natalie Email , Leave a comment
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