The JSE remained firm at midday on Wednesday but was off its earlier all time high of 31 291,74. The initial spurt had been prompted by a record close on Wall Street overnight, but European markets are lower and the United States futures are also negative, which brought the JSE back from its record level reached earlier in the session.
The JSE remained firm at midday on Thursday, with platinum miners a feature following strong results from Impala Platinum earlier in the day. A 2% gain on Wall Street overnight and generally firm global bourses were also helping. By noon, the all-share index was 0,82% higher. Resources were 0,75% better and the gold-mining index advanced 0,90%.
The JSE was off its earlier lows by midday on Wednesday as investors looked for value after the recent sharp sell-off. After starting weaker on the back of a sharp fall on Wall Street overnight, the JSE was looking a little better late morning. The Dow shed 2% on Tuesday and Tokyo shares ended down 1,7%, but London shares have turned around.
After ending 1,5% higher on Monday, the JSE was back in the red on Tuesday morning following a decline in the Dow overnight. However, the local bourse was being cushioned somewhat by the softer rand and good interest in direct miners. By 12.11pm, the all-share index was off 0,15%.
Diamond giant De Beers said on Tuesday that its 2006 Diamond Trading Company sales reached $6,15-billion -- the second highest figure ever achieved. The 2006 sales were down from 2005's record $6,5-billion, reflecting reduced purchases from Alrosa in line with the commitments given to the European Commission.
A strong performance from its Forest Products division and long-awaited price increases in Europe have helped South African-based pulp and paper producer Sappi produce its best quarter for a number of years. The group reported earnings per share of 25 United States cents for the quarter ended March.
SABMiller said on Thursday that its financial performance was in line with management's expectations as good revenue growth was partially offset by higher input costs and increased investment across the business. The group said in a trading update ahead of the release of its full year financial results on May 17, that for the year to end March it recorded 23% growth in lager volumes.
After starting firmer, the JSE drifted weaker during the course of Friday morning's session, but was just barely hanging on to positive territory just after midday on Friday. By 12.25pm, the all-share index was up 0,03% -- or just eight points. The resources index was 0,20% higher and the gold mining index was ahead 0,21%.
The JSE remained on the softer side at midday on Wednesday as some sectors fell prey to profit taking. However, there were pockets of strength, notably industrial counters. At 12.21pm, the all-share index was down 0,23%, with resources off 1,34%, the gold miners 1,28% softer and platinums 0,87% in the red.
The JSE continued its upward momentum on Thursday, and although it was off its morning high of 25 075,99, it remained around the 25 000 level. This was the first time that the all share index had moved above the 25 000 level. By noon, the all share index was up 0,26%, aided by a 0,77% increase in resources, a 1,3% rise in golds and a 1,28% jump in platinums.
The JSE touched a fresh all-time high on Wednesday, albeit in thin volumes, aided by strong gains for gold miners and resources. Volumes were very thin as many players are away until the new year, having chosen to take the week between Christmas and New year off.
South African cellular operator Vodacom estimates that the South African market will reach 48-million by 2012. Speaking at the presentation of the group's interim results on Monday, CEO Alan Knott-Craig said Vodacom is strategically placed for continued market leadership.