The JSE was higher at midday on Friday, supported by solid gains for resource stocks after metals prices staged a slight recovery, while stronger European markets provided additional support. At 12pm the all-share index was up 1,02%, thanks to a 1,39% rise in resources.
The JSE was virtually unchanged at noon on Thursday as investors juggled a sharp retreat in commodity prices and the Dow Jones Industrial Average’s record-breaking performance overnight. At noon, the all-share index was up just 0,07%. Resources gained 0,21%, the platinum mining index edged up 0,15% but the gold mining index gave up 0,08%.
South African-based media group Naspers will terminate its listing on the Nasdaq Global Market and apply for secondary listing on the London Stock Exchange. Naspers said the decision to delist driven by high costs of maintaining the listing and complying with US obligations, especially the provisions of the Sarbanes-Oxley Act of 2002.
The JSE was a touch higher at noon on Wednesday with further gains capped by a weaker tone in gold-mining stocks, while grocer retailer Shoprite fell on news that takeover talks have been terminated. At 12pm, the all-share index was up 0,18%. Resources gained 0,28%, the platinum-mining index was up 0,44%, but the gold-mining index gave up 0,73%.
South Africa is on the right track in its efforts to set up a profitable biofuels industry, said Ernst Janosky, head of agriculture at First National Bank, on Tuesday. Speaking on the sidelines of the 41st annual Nampo harvest week, Janosky said that for a biofuels industry to be profitable, local fuel prices need to be above R10 a litre.
The JSE retained its firmer tone at noon on Monday, supported by solid buying of platinum stocks, while media reports that BHP Billiton could be stripped and sold boosted the resource heavyweight. At 12pm, the all-share index was up 0,33% thanks to a 2,22% gain in the platinum-mining index.
The JSE remained firm at midday on Friday buoyed by gains in resource stocks while most players stayed on the sidelines ahead of the United States jobs data. At 12pm, the all-share index was up 1,04% thanks to a 2,29% solid gain in resources. The platinum-mining index was up 1,45% but the gold-mining index lost 0,22%.
The JSE turned red at noon on Thursday on the back of a stronger rand but Sasol climbed after announcing it will hedge 30% of its synfuels production. At noon the all-share index was off 0,47%. Resources lost 0,21%, the gold mining index fell 1,07% but the platinum mining index added 0,24%.
The JSE retained its strong tone at midday on Wednesday, boosted by firmer performances on overseas markets while Kumba Iron Ore soared following the upgrade of its target price by Merrill Lynch. At 12.01pm, the all-share index was up 0,50%. Resources gained 0,77%, the platinum-mining index climbed 2,11%, but the gold-mining index gave up 0,37%.
The JSE extended gains at midday on Monday helped by the solid buying for resources heavyweights after the rand weakened — but trade was sluggish as most players were still on leave. South African markets will be closed on Tuesday May 1 for Workers’ Day.