No image available
/ 26 January 2005
World number six gold miner Harmony Gold on Wednesday fell to a fresh three-year of R50 a share on the JSE Securities Exchange. This was attributable to the fall in the price of group’s American Depository Receipt (ADR) in the United States due to the lower gold price, brokers said.
No image available
/ 24 January 2005
Diversified mining group Kumba Resources on Monday came close to an all-time high on continued speculation about the settlement prices for iron ore, which are currently being negotiated. At 9.40am, Kumba was quoted at R57,49, up 28 cents or 0,5% from its Friday close.
No image available
/ 24 January 2005
The JSE Securities Exchange (JSE) is not aware of any of its grain broker members being in financial difficulty and there are no signs that a grain broker member could be placed in default, JSE agricultural products division general manager Rod Gravelet-Blondin said on Monday.
No image available
/ 20 January 2005
Africa’s largest sugar group, Illovo, on Thursday announced that it expects its headline earnings and earnings per share for the year ending March 31 2005 to be between 50% and 60% lower than the previous year. The existing I-Net Bridge consensus of analysts has Illovo producing 2005 headline earnings per share of 46,4 cents.
No image available
/ 15 January 2005
Glass-packaging manufacturer Consol, which is being unbundled from industrial giant AVI, will be making its reappearance on the JSE Securities Exchange (JSE) on February 28 after an absence of seven years, it emerged on Friday. With a total turnover of about R2,1-billion rand, Consol is South Africa’s largest glassmaker.
No image available
/ 14 January 2005
Global resources BHP Billiton moved to a three-month high on Friday on speculation about the level of 2005/06 iron-ore settlements, brokers said. Shares in South African diversified mining group Kumba Resources climbed to a two-and-half-year high on the strong prospects for iron-ore contract prices.
No image available
/ 13 January 2005
Despite the modest correction in the gold price, the first half of 2005 is expected to see renewed interest in the precious metal. Gold is forecast to average $447 a troy ounce in the six-month period, United Kingdom-based consultancy GFMS said in a report released on Thursday.
No image available
/ 12 January 2005
World number-four gold miner Gold Fields on Tuesday indicated that no viable alternative has emerged from recent talks and that it continues to pursue other alternatives other than rival Harmony’s offer. It is too soon to have expected a viable solution to emerge, Harmony marketing director Ferdi Dippenaar said.
There was a fire in the early hours of Thursday at investment bank Cazenove South Africa’s head office in Dunkeld, Johannesburg, Cazenove said in a statement. The Cazenove trading staff have been moved to an alternative site in Midrand and business is continuing as normal, Cazenove South Africa MD Tony Lederle said.
The rand on Thursday moved above R6 to the dollar for the first time since late November last year on the weaker euro against the dollar, Absa economist Christ Hart said. At 9.25am, the rand was quoted at R6,0128, its weakest level since November 24 2004, from Wednesday’s closing level of R5,9226.