The crisis in the United States sub-prime mortgage market was the hot topic on the JSE just after midday on Wednesday as the local bourse, together with its global counterparts, followed Wall Street south. With commodities also taking strain, the local bourse was hit by a double whammy.
The JSE was in positive territory in noon trade on Tuesday boosted by futures-related buying ahead of Thursday’s close-out. A weaker rand was also assisting the local bourse, dealers said. By 12.03pm, the all share index added 0,4%. Resources rose 0,69%, the gold mining index mining index gained 0,91% and the platinum mining index perked up 0,32%.
The JSE was slightly weaker in noon trade on Friday, taking its cue from its European counterparts. With key United States non-farm payrolls and trade data both due out at 3.30pm, caution was the order of the day. By 12.01pm, the all-share index shed 0,19%. Industrials dipped 0,1%, while the financial and banks indices fell 0,53% and 1,2% respectively.
The JSE was up across the board in noon trade on Thursday, lifted by stronger Asian markets and higher commodity prices. There was also an element of futures-buying related to next Thursday’s close-out, dealers said. By 12.05pm, the all-share and all-share industrial indices added 1,44% and 1,08% respectively.
The JSE was looking a bit greener in noon trade on Tuesday after a pick-up in both Asian markets and metals prices helped it recover from Monday’s scorching. Dealers, however, were sceptical about the sustainability of the move, describing it as "a dead-cat bounce".
The JSE headed back below the 25 000 level on Monday hit by the double whammy of weaker world markets and lower commodity prices. A softer rand did little to stem the bourse’s losses. The all-share index tumbled 2,51% to close at 24 919,460. It was its lowest close since January 12.
The JSE was in positive territory in noon trade on Thursday after a recovery in United States markets overnight helped it bounce following two days of losses. A higher gold price also lent the bourse some support. By 11.55am, the all-share index added 0,62%. The all-share industrial and financial indices firmed 0,47% and 0,78% respectively, while the banks index was 0,64% better.
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/ 28 February 2007
Following its sharp fall on Tuesday, the JSE remained in the red in noon trade on Wednesday, with world markets generally on the negative side. However, dealers said that the local bourse was already starting to find its feet again having taken a much-needed breather.
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/ 27 February 2007
The JSE was awash with red in noon trade on Tuesday with a media report of a proposed windfall tax on the resources industry and weaker world markets prompting profit taking in a market that had enjoyed a phenomenal run. The JSE had reached record highs in seven of the nine sessions prior to Tuesday’s retreat.
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/ 23 February 2007
The JSE was pausing for breath in noon trade on Friday after its rally on Thursday to a closing high, which came on the back of higher commodity prices. By 12.12pm, the all-share index was off 0,35% at 26 603,220, although it did touch a record trading high of 26 770,949 mid morning. Resources retreated 0,49%, with the gold-mining index surrendering 0,62%.