TUESDAY, 5.30PM
BETTER than expected producer inflation figures released on Tuesday helped strengthen capital markets, paving the way for a strengthening of the Johannesburg Stock Exchange’s industrial index.
The industrial index ended the day 28,3 points up on Monday, closing at 9 267,7. The index closed off the day’s highs however, as Wall Street opened by shedding some of Monday’s gains during the last half hour of SA trade. Paving the way for industrials’ gains was the capital market, with the benchmark government R150 long bond strengthening 11,5 points, to return a yield of 14,080%.
The gold index edged up 0,8 points over the day, tracking a lacklustre bullion market. The gold price fell slightly on Tuesday, last quoted at $326,50 from a London afternoon fix of $326,15/oz.
In thin trade on the currency market, the rand ended the day little changed against the dollar. At 4pm the local unit was quoted at R4,6665 to the dollar from Monday’s close of R4,6655.
BUSINESS BRIEFS
E CAPE ZINC MILL DISCUSSED A SENIOR delegation from Gencor and Japanese metals producer Mitsui has left for London to brief Billiton executives on the feasibility of a proposed zinc refinery in Coega in the Eastern Cape. Mitsui is believed to intend to join Gencor in the venture, and paid for the feasibility study. Billiton will decide on the future of the R2,4m proposed refinery at a board meeting on September 4.
AMPLATS CONDENSES SHAREHOLDERS of Anglo American Platinum Corporation have approved the merger of its operations into a single listed entity, Rustenburg Platinum Holdings. Shareholders also agreed to Amplats’s disposal of holdings in unlisted diamond trading companies.
NEW ANGLO DIRECTORS ANGLO American Corporation on Tuesday announced the appointment of six new alternate directors to its board. They are: Peter Arthur, Bill Bragg, David Fish, Rob Lloyd, Kalaa Mpinga and Tony Redman.