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    Basic materials, resources weigh on JSE

    Local markets

    At midday on Wednesday, the JSE All Share had slipped 0.37% after losses in basic materials and resource shares weighed on the local bourse.

    The rand was selling at R6.84 to the US dollar at noon, taking a lead from this morning’s broad-based dollar movement.

    Brent crude oil was selling at $88.16 a barrel, up 0.18% after news of a fall in oil stockpiles in the US offset the effect of a stronger dollar.

    International markets

    Yesterday, losses in bank and metal shares saw US markets fall, with the Dow Jones slipping 0.53% and the Nasdaq losing 0.66% by end of day.

    In Japan, the Nikkei index rose 1.40% to a four-month closing high at its close this morning, after gains in financial shares came on news that major Asian banks may be spared from new global rules.

    In China, the Shanghai index fell 0.63% after investors became concerned about more monetary policy tightening by Beijing. Property developers shares also fell on fears that interest rates may be raised after the release of October inflation data.

    Britain’s FTSE 100 had slipped 0.35% by midday SA time, after losses in commodity shares due to profit taking followed the recent rally.

    Share price news

    Merafe Resources Limited (share code: MRF) rose 2.80% to R1.47 a share at noon, after 9 655 043 shares were sold in 169 deals.

    Blue Label Telecoms Limited (BLU) gained 2.32% after 42 deals exchanged 1 565 736 shares, sending the price up to R7.05.

    After 1 907 335 shares were traded in 1 263 deals, BHP Billiton PLC (BIL) fell to R264.80 a share, a loss of 2.75%.

    Losing 2.45% by midday was Telkom SA Limited (TKG), whose shares fell to R35.80 after investors exchanged 374 550 shares in 355 deals.

    Permalink2010-11-10, 12:28:55, by Natalie Email , Leave a comment

    Basic materials, resources weigh on JSE

    Local markets

    At midday on Wednesday, the JSE All Share had slipped 0.37% after losses in basic materials and resource shares weighed on the local bourse.

    The rand was selling at R6.84 to the US dollar at noon, taking a lead from this morning’s broad-based dollar movement.

    Brent crude oil was selling at $88.16 a barrel, up 0.18% after news of a fall in oil stockpiles in the US offset the effect of a stronger dollar.

    International markets

    Yesterday, losses in bank and metal shares saw US markets fall, with the Dow Jones slipping 0.53% and the Nasdaq losing 0.66% by end of day.

    In Japan, the Nikkei index rose 1.40% to a four-month closing high at its close this morning, after gains in financial shares came on news that major Asian banks may be spared from new global rules.

    In China, the Shanghai index fell 0.63% after investors became concerned about more monetary policy tightening by Beijing. Property developers shares also fell on fears that interest rates may be raised after the release of October inflation data.

    Britain’s FTSE 100 had slipped 0.35% by midday SA time, after losses in commodity shares due to profit taking followed the recent rally.

    Share price news

    Merafe Resources Limited (share code: MRF) rose 2.80% to R1.47 a share at noon, after 9 655 043 shares were sold in 169 deals.

    Blue Label Telecoms Limited (BLU) gained 2.32% after 42 deals exchanged 1 565 736 shares, sending the price up to R7.05.

    After 1 907 335 shares were traded in 1 263 deals, BHP Billiton PLC (BIL) fell to R264.80 a share, a loss of 2.75%.

    Losing 2.45% by midday was Telkom SA Limited (TKG), whose shares fell to R35.80 after investors exchanged 374 550 shares in 355 deals.

    Permalink2010-11-10, 12:26:51, by Natalie Email , Leave a comment

    JSE up at midday as gold miners soar

    Local markets

    On Tuesday at 12:00, gains in gold miners and basic materials shares supported a 0.67% rise in the JSE All Share.

    The rand was exchanging at R6.82 as investors were cautious of investing in emerging market currencies due to concerns about European debt and the global economic recovery.

    Gold cost $1 413.65 an ounce at noon, rising 0.35% to continue its rally after inflation and euro zone debt concern raised the appeal of precious metals.

    International markets

    Yesterday, the Dow Jones fell 0.33% while the Nasdaq edged up 0.04%, as losses in financial stocks and a stronger dollar pressured US markets.

    Japan’s Nikkei average lost 0.39% by its close this morning, as investors took profits after a four-session rally.

    Hong Kong’s Hang Seng slid 1.02% after property shares corrected on a share placement by Sino Land.

    In Britain, the FTSE 100 had risen 0.61% as solid results from Vodafone and Barclays boosted investor sentiment.

    Share price news

    After just two deals, Country Bird Holdings Limited (CBH) rose 6.90% to R3.10 a share after investors traded 1 751 200 shares this morning.

    In the metals and minerals sector, Royal Bafokeng Platinum Limited (RBP) climbed to R69.35 a share, a 6.86% gain after 1 236 912 shares were sold in 568 deals by midday.

    Pretoria Port Cement (PPC) fell 2.62% to R33.40 a share, after 505 deals traded 648 464 shares.

    Losing 1.91% by noon was London Finance and Investment Group PLC (LNF) as shares fell to R2.05 each after a single trade exchanged 120 000 shares.

    Permalink2010-11-09, 12:28:18, by Natalie Email , Leave a comment

    Losses in gold miners weigh on JSE

    Local markets

    On Monday at midday, the JSE All Share had fallen 0.34%, with losses in gold mining and basic material shares leading the downward slide.

    The rand was exchanging at R6.84 to the US dollar at noon, weakening slightly as dollar gained against the euro.

    Gold cost $1 391.45 an ounce at 12:00, slipping 0.30% after a rebound in the US dollar weighed on prices.

    International markets

    On Friday, sentiment continued to improve after a Republican win in the elections and news of the US Federal Reserve’s plan to supply cheap money. The Dow Jones rose 0.08% while the Nasdaq inched up 0.06%.

    In Japan, the Nikkei average rose 1.11% to reach its highest close in three months this morning, as investors bought more shares on good news from the US.

    In Germany, the DAX had fallen 0.23% by midday, while France’s CAC40 had lost 0.34% as European markets retreated after earlier gains in financial shares.

    Britain’s FTSE 100 had slid 0.26%, ending a recent rally as losses in mining shares weighed on the index.

    Share price news

    Amongst the top movers up at midday was Pan African Resources PLC (share code: PAN) whose shares rose 4.46% to R1.17 after investors traded 1 957 118 shares in 102 deals by midday.

    In the hospital management sector, Litha Healthcare Group Limited (LHG) climbed to R2.49 a share, a gain of 3.32% after 208 153 shares were exchanged in 14 deals.

    Falling 5.28% to sell at R3.41 a share was Cadiz Holdings Limited (CDZ) in the investment banks sector, after 114 deals sold 1 953 415 shares. Cadiz released their interim results this morning, announcing that diluted HEPS had fallen 29.7% for the six months ended 30 September 2010.

    After a volume of 638 883 shares was traded in 1 630 deals, Naspers Limited (NPN) slid 2.03% to R358.02 a share at noon.

    Permalink2010-11-08, 12:39:25, by Natalie Email , Leave a comment

    JSE slips as investors consolidate gains

    Local markets

    Friday midday saw the JSE All Share down 0.30% as investors consolidated recent gains with losses almost across the board excluding the gold mining sector, which had gained 2.50%.

    The rand was trading at R6.81 to the US dollar, relatively stable in spite of news that the central bank would be dramatically increasing foreign reserves.

    Brent crude oil cost $87.35 a barrel at noon, rising 0.40% after US Federal Reserve stimulus measures encouraged greater appetite for risk amongst investors and pressured the US dollar.

    International markets

    The Dow Jones closed 1.96% higher and the Nasdaq rose 1.46% on US markets yesterday, as investors continued to be positive a day following the Federal Reserve’s plan to stimulate economic recovery.

    In Japan, the Nikkei average gained 2.86% on rallies in commodity shares after the Federal Reserve's plans to buy more debt raised risk appetite amongst global investors.

    France’s CAC40 had lost 0.14% around noon SA time, as European investors took profits from six-month highs and energy shares fell on lower oil prices.

    Britain’s FTSE 100 was 0.20% down at noon, retreating from yesterday’s two-year record highs after banking shares lost ground.

    Share price news

    In the oil sector, Sacoil Holdings Limited (share code: SCL) rose 4.32% to R1.69 after investors sold 1 122 341 shares in 77 deals.

    Metair Investments (MTA) in the auto parts sector climbed 4.26% after 94 deals traded 1 556 117 shares, to sell at R11.99 at midday.

    After investors exchanged 178 693 shares in 241 deals, shares in Mondi PLC (MNP) fell to R56.20 each, a loss of 2.26%.

    In the containers and packaging sector, Nampak (NPK) fell 2.06% to R19.54 a share, after 195 262 shares were traded in 54 deals.

    Permalink2010-11-05, 12:25:44, by Natalie Email , Leave a comment

    Positive sentiment boosts markets after US stimulus plan

    Local markets

    At noon on Thursday, the JSE All Share had risen 1.15% led by strong gains in resource shares, and following gains on international markets after investors approved of the US Federal Reserve's latest stimulus package.

    The rand was trading at R6.81 to the US dollar at midday, strengthening after stimulus measures in the US boosted confidence and spurred investors to invest in riskier emerging market assets.

    Oil rose 2.35% to sell at $87 a barrel, achieving new six-month highs as the dollar weakened on news that the US Federal Reserve planned to purchase debt and increase money supply.

    International markets

    Yesterday, US markets were volatile as investors reacted to the Federal Reserve detailed a plan to salvage economic recovery. The Dow Jones closed 0.24% higher and the Nasdaq gained 0.27%.

    The Japanese Nikkei index climbed 2.17% at its close this morning, as investors engaged in short-covering on news of the Fed’s monetary easing and solid economic data from the US.

    Hong Kong’s Hang Seng finished 1.62% higher as investor confidence rose on the back of stimulus news from the US.

    In Britain, the FTSE 100 had gained 1.77% by noon, reaching its highest level in two years as the bourse responded to US stimulus news and tracked gains on US and Asian markets.

    Share price news

    Amongst the top gainers at midday was BHP Billiton (share code: BIL), whose shares rose 4.60% to R263.60 after investors traded 4 096 269 shares in 2 953 deals.

    Auto part manufacturer Metair Investments (MTA) gained 3.51% after 292 276 shares were exchanged in 31 deals, sending the share price up to Rx at 12:00.

    MTN Group Limited (MTN) fell 1.58% to R127.67 a share, after 1 585 deals traded 1 873 581 shares.

    Also losing ground was Naspers Limited (NPN) in the broadcasting contractors sector. Shares slipped 1.21% to R368 after investors sold 837 943 shares in 1 848 deals.

    Permalink2010-11-04, 12:28:20, by Natalie Email , Leave a comment

    Global markets, JSE up ahead of Federal Reserve meeting

    Local markets

    At midday on Wednesday, gains in industrial shares had led the JSE All Share up by 0.43%, though trading volumes were low ahead of the US Federal Reserve meeting later today.

    The rand was exchanging slightly higher at R6.87 to the US dollar, following in the footsteps of a firmer euro and anticipating substantial monetary easing to come out of this afternoon’s US Federal Reserve meeting.

    Gold cost $1359.25 an ounce, edging up 0.14% though investors remained cautious before hearing the details of monetary easing in the US.

    International markets

    On US markets yesterday, the Dow Jones rose 0.58% and the Nasdaq gained 1.14% as investors expected a Republican win in the midterm election, believed to promote a more business-friendly environment.

    In Japan, the Nikkei closed 0.06% higher this morning, thanks to solid earnings by electronics makers and other exporter shares.

    Hong Kong’s Hang Seng gained 2.00%, led by rising bank and oil shares, to reach the index’s highest close in 28 months.

    Britain’s FTSE 100 had recovered 0.08% by midday, after earlier losses came on pessimistic earnings news, and falling miners offset gains in financial shares.

    Share price news

    After 13 deals exchanged 178 869 shares, Rolfes Technology Holdings (RLF) rose to R1.52 a share, a gain of 4.83%.

    Pan African Resource PLC (PAN) gained 2.86% as shares rose to R1.08 at noon, after investors traded 374 952 shares in 39 deals.

    Coal of Africa Limited (CZA) fell 13.73% to R8.23 after 448 116 shares were sold in 117 deals.

    Investors traded 101806 shares in Freeworld Coatings Limited (FWD) in 20 deals by noon, sending the share price down 2.17% to R9.

    Permalink2010-11-03, 12:37:48, by Natalie Email , Leave a comment

    JSE down on profit taking at midday

    Local markets

    The JSE All Share had fallen 0.26% by midday on Tuesday on profit taking, with gold miners leading losses as the sector slid 0.91%.

    The rand had strengthened slightly to R6.93 against the US dollar at noon, but is expected to remain range bound before the US Federal Reserve policy meeting.

    Brent crude oil was 0.60% up at noon, selling at $84.50 a barrel though investors were cautious before the monetary easing that is likely to result from the US Federal Reserve meeting.

    International markets

    The Dow Jones up fractionally by 0.06% while the Nasdaq dipped 0.10% on US markets yesterday. Investors were reluctant to take positions before today’s elections and a Federal Reserve announcement on Wednesday.

    Japan’s Nikkei average finished 0.06% higher this morning, weighed on by a firmer yen and apprehension before the US Federal Reserve policy meeting.

    Hong Kong’s Hang Seng inched up 0.08% this morning, taking a lead from flat finishes on US markets.

    Britain’s FTSE 100 had risen 0.75% by noon SA time, as oil shares rose on the back of solid results from BP and BG.

    Share price news

    Netcare Limited (NTC) rose 1.94% to R15.25 a share, as investors sold 458 885 shares in 195 deals.

    Discovery Holdings Limited (DSY) gained 1.77% as shares rose to R40.19 each, as 442 693 shares were exchanged in 339 deals this morning.

    Losing 3.59% at midday was Eastern Platinum Limited (EPS), whose shares fell to R12.34 after 37 deals traded 249 476 shares.

    Paper producer Mondi Limited (MND) fell to R57.82 a share after investors exchanged 337 797 shares in 588 deals, a loss of 1.33%.

    Permalink2010-11-02, 12:55:50, by Natalie Email , Leave a comment

    Global markets mixed, look to US Fed’s policy meeting for direction

    Local markets

    At midday on Monday, the JSE All Share had risen 0.32% as gains in mining shares supported the upward movement. Trade was light however, as investors acted cautiously before tomorrow’s meeting of the US Federal Reserve.

    The rand strengthened to sell at R6.95 to the US dollar, though analysts expect the local currency to remain range bound as it awaits direction from the euro.

    Gold was selling 0.40% higher at $1362.90 a fine ounce at noon, after increased buying in Asia and a weaker dollar, and as investors set themselves up before US Federal Reserve’s asset buying programme.

    International markets

    On Friday, the Dow Jones edged up 0.04% while the Nasdaq ended flat at 0.0% change, though ending a good month on hopes that the Federal Reserve’s monetary easing will increase liquidity in the market.

    Japan’s Nikkei average fell 0.52% at its close this morning, after Honda Motor’s earnings did not meet expectations, and a strong yen weighed on sentiment.

    China’s Shanghai index climbed 2.52% as gains in commodity stocks came on news of strong manufacturing data.

    Britain's FTSE 100 had risen 0.78% by midday, following gains in Asia after China’s surprisingly strong manufacturing data. Investors looked ahead to events likely to determine market direction for the near future, such as the US Federal Reserve’s policy meeting on Tuesday.

    Share price news

    In the oil sector, Sacoil Holdings Limited (share code: SCL) rose 5.30% after 29 deals traded 145 334 shares, which sent the share price up to R1.59 at midday.

    Imperial Holdings Limited (IPL) in the shipping and ports sector climbed 1.94% to R116.47 after investors traded 480 777 shares in 534 deals.

    After 8 deals, retailer Verimark Holdings Limited (VMK) fell 1.72% to R1.18 a share as investors sold 100 089 shares by noon.

    Investment company Hosken Consolidated Investments Limited (HCI) lost 3.61% after 35 305 shares were exchanged in 23 deals, sending the share price sliding to R80.00.

    Permalink2010-11-01, 12:35:15, by Natalie Email , Leave a comment

    Losses in resource shares lead the JSE down

    Local markets

    At midday the JSE All Share had fallen 0.34% as losses in resource shares weighed on the local bourse, adding to losses in other sectors.

    The rand was trading at R7.02 to the US dollar, remaining steady after credit growth and money supply statistics were better than expected.

    Oil cost $82.54 a barrel around noon, falling 0.24% on apprehension before news of the size and structure of the US Federal Reserve’s plan for monetary easing.

    International markets


    On Thursday, the Dow Jones closed 0.11% lower while the Nasdaq edged up 0.16% little changed from the previous session. Investors were cautious ahead of the release of GDP data for the third quarter.

    In Japan this morning, the Nikkei finished 1.75% lower to reach its lowest close in seven weeks, after poor earnings were released by key companies such as Sharp.

    Hong Kong's Hang Seng index fell 0.49%, after losses in China Life and the release of worse-than-expected quarterly results from other insurers.

    Britain’s FTSE 100 had slipped 0.41% by midday in SA, as losses in miners and caution ahead of US GDP data weighed on the market.

    Share price news

    The Foschini Group Limited (share code: TFG) gained 1.88% after 318 165 shares were exchanged in 488 deals, sending the share price up to R84.50 at noon.

    Fellow retailer MR Price Group Limited (MPC) rose 1.75% to R63.49 a share, after 524 961 shares were traded in 423 deals.

    Metals and minerals firm Assore Limited (ASR) fell to R162 a share, after investors exchanged 4 504 shares in 24 deals, a loss in price of 3.57%.

    Losing 0.98% by noon was platinum firm Lonmin PLC (LON) as shares fell to R192.59 a share. Investors had sold 53 477 shares in 88 transactions.

    Permalink2010-10-29, 13:35:32, by Natalie Email , Leave a comment

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