Nicole Rego

Guest Author

Banks help pare JSE losses

The JSE was down only 0,83% at noon on Tuesday, as buying interest among banks helped it recover from sharp losses of over 4% in the morning session. By noon, the platinum mining index fell 2,27%, resources were down 1,72%, and the gold mining index pulled back 1,47%.

JSE flat as investors remain nervous

The JSE had inched down into the red by midday on Friday as investors remained nervous amid global concerns of a possible United States recession. Subprime worries carried over from last year have also continued to weigh on markets globally, spreading concern over the outcome for financial stocks.

JSE inches up slightly

The JSE inched up slightly by noon on Monday, but with no real driver as markets have started to feel the slowdown effects of the holiday season. By midday, the JSE all-share was only 0,1% in the black. Financials and banks edged up 0,33% and 0,08% respectively, and resources were up a slight 0,11%.

JSE flat after weak opening

A weaker rand offset the JSE's earlier losses on Tuesday and the bourse was flat by midday. The JSE initially opened weaker following an overnight drop on Wall Street. At noon, the JSE's all-share index was barely changed (+0,02%). The gold mining index climbed 0,62%, and resources lifted 0,24%.

JSE up strongly on Asian rally

The JSE was up strongly at midday on Wednesday, taking its cue from a rally in Asian markets. The Hang Seng gained 2,84% and the Shanghai added 0,5%, while the Singapore Straites Times collected 2,61%. At midday on the JSE, the all-share index was up 1,67%. Resources gained 2,31%, and the gold- and platinum-mining indices edged up 0,79% and 0,45% respectively.

Credit bugbear tugs at JSE

The JSE remained firmly in the red by noon on Thursday as subprime concerns continued to plague investors. At midday, the JSE all-share was off 3,26%. Resources lost 3,87%, the gold-mining index was 3,42% lower and the platinum-mining index fell 2,84%. Financials shed 3,26% and banks tumbled 4,10%, while industrials were down 2,56%.

Resources drive JSE firmer

The JSE was firmer at midday led by the resources sector which was being driven by stronger precious metal prices. At 12.03pm, the all-share index was up 1,39% as resources added 1,80%. The platinum mining index climbed 1,29% and the gold-mining index gained 1,03%.

JSE still firm but financials dip

At midday, the JSE was still firm, but was a tad lower than its strong opening this morning as the financial index started to pull back. At 12.01pm, the all-share index was 0,98% better as resources added 1,94% and the platinum-mining index climbed 1,20%. However, the gold-mining index was off 0,64%.

JSE lacklustre ahead of US opening

The local bourse was looking a little lifeless at midday on Monday, with the all-share index down most of the morning on the back of profit-taking, and the local market waiting for Wall Street to open to give it some direction.

JSE finds support at midday

The JSE came off in the opening on Wednesday but has come back a bit, supported by a tad lower rand at midday. The bourse has also had a little nudge by the resource index, which has improved. At 12.01pm, the all-share index was flat (-0,01%). Resources gained 0,50%, the gold index eased 0,76% and the platinum-index slipped 0,12%.

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