Shares in South African steel producer Iscor, which were already under pressure, extended their losses on Thursday afternoon after the group released its results for the March quarter. At 2.23pm, Iscor shares were trading at R36, down 5,26% or two rand from their previous close.
The JSE Securities Exchange South Africa remained in the black, but was well off its intraday highs, in noon trade on Thursday, as lower commodity prices and softer European markets offset the weaker rand’s positive influence. Volumes were impressive, boosted by a late trade in JD Group that was only recorded on Thursday morning.
A red tide was sweeping the JSE Securities Exchange South Africa (JSE) in noon trade on Wednesday, stemmed only by a softer rand. A lower bullion price, a dismal performance by their ADRs in New York overnight and bad news out of AngloGold conspired to make the gold sector the worst performer in a weak market.
Platinum stocks were one of the few features on the JSE Securities Exchange South Africa (JSE) on Tuesday in a market that was extremely thin due to the public holidays on Monday and Wednesday. Overall, the market was firmer, helped by stronger world markets and a softer rand.
The JSE Securities Exchange South Africa (JSE) was marginally firmer in noon trade on Thursday, propped up by Richemont and BHP Billiton, which were up strongly offshore. However, overall the market was quiet and, when compared to the last couple of days, volumes thin.
The JSE Securities Exchange South Africa (JSE) was firmer in noon trade on Friday, buoyed by positive sentiment and strong performances by heavyweight dual-listed stocks offshore. However, as has been the case all week, volumes were fairly light with just more than R700-billion-worth of shares having changed hands.
The JSE Securities Exchange South Africa (JSE) was riding high in noon trade on Thursday, lifted by stronger European markets and a slightly softer rand. However, volumes were fairly light, with R650-million-worth of shares changing hands. At 11.54am, the all-share index was up 0,71%.
The rampant rand wreaked havoc on the JSE Securities Exchange South Africa (JSE) on Tuesday morning, sending heavyweight resources and dual-listed stocks sprawling. Platinum counters, hit by the double whammy of the strong rand and a lower platinum price, were down sharply.
The JSE Securities Exchange South Africa (JSE) was riding high just before noon on Thursday on the back of a softer rand and stronger European markets. Dealers said that bargain hunting was also being seen with several stocks looking cheap after being sold off over the past couple of days.
After opening sharply weaker on the back of world markets, the JSE Securities Exchange South Africa (JSE) was in the black in noon trade on Friday as bargain hunters sought out resources stocks, which were looking cheap after six days of losses. Financials and industrials remained in the red, however.