Information and communication technology (ICT) in South Africa is expected to get a boost from the 2010 Soccer World Cup, with infrastructure providers and local government spending billions to ensure a successful tournament, according to key players at the recent ICT Journalist Media Forum.
The JSE continued on a lacklustre path as it edged up slightly from its flat open to trade 0,68% higher at midday on Monday. World markets were also flat at midday amid a continued lack of activity as United States traders took a day off to celebrate Labour Day. By midday on the JSE, the all-share index was up 0,68%.
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.
The JSE was mixed at midday on Tuesday as world markets started to pull back off their highs after United States futures indicated a weaker opening on Wall Street. At midday on the JSE, the all-share index was 0,52% lower. Resources shed 0,69%, and the gold- and platinum-mining indices retreated 2,22% and 0,38% respectively.
The JSE continued to trade in positive territory in midday trade on Monday with world markets stronger after Wall Street’s recovery on Friday. At midday on the JSE, the all-share index was up 2,29%. Resources climbed 2,78% and the gold and platinum mining indices added 1,20% and 1,22% respectively.
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%.
The JSE continues to hover in weaker territory as credit concerns resurface, leading world markets and the local bourse lower. At midday, the JSE all-share was off 1,28%. Resources lost 1,13%, the gold-mining index was 0,56% lower and the platinum-mining index fell 1,82%. Financials shed 1,44% and banks pulled back 1,54%, while industrials were down 1,35%.
After being down almost 1% earlier, the JSE managed to claw its way back into positive territory by midday on Tuesday as the weaker rand lent some support to resources stocks and Dow futures were up. A trader said that the Dow futures were looking positive — up 30 points — which is an indication of a firmer start on Wall Street later this afternoon.
The JSE was holding on to gains of over 1% at midday on Monday as world markets tread in positive territory after last week’s global credit concerns started to fade. The FTSE was up 1,69%, the Hang Seng added 0,45% and the Nikkei gained 0,21%. At midday, the JSE all-share index climbed 1,10%.
The JSE plummeted a massive 1 132 points — more than 4% — on Friday as global credit fears submerged the local bourse in a bloodbath. The last time the JSE lost almost 1 000 points was on February 27 this year, according to a local trader. However, the 4,02% drop in the market was not the biggest seen by local investors.