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/ 29 May 2008

JSE stays weak, banks slump

South African stocks remained modestly weaker at noon on Thursday, with banks weighing heavily on a deteriorating inflation outlook after worse-than-expected producer price inflation data and the South African Reserve Bank governor’s comments that the bank was considering a 200-basis-point interest-rate hike.

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/ 27 May 2008

JSE weaker on poor GDP data

South African stocks were lower at midday on Tuesday, pressured by below-forecast gross domestic product (GDP) data, which showed that the quarterly economic growth rate slowed to 2,1%, traders said. At 12.02pm, the all-share index was down 0,71%. Resources fell 1,01%, while the gold- and platinum-mining indices were off 0,42% and 0,72% respectively.

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/ 23 May 2008

JSE extends losses on profit taking

The JSE extended losses at midday on Friday as profit taking-induced selling on resources offset modest gains among banks and financials, traders said. At 12.03pm, the JSE’s all-share index was down 1,24%, weighed by a 1,75% drop in resources. The gold mining index was off 0.18% but the platinum mining index added 0,17%.

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/ 22 May 2008

JSE hits new record on resources

The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE’s all-share index was up 0,98% at 33 230,590 after earlier touching a fresh all-time high of 33 309,820.

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/ 21 May 2008

JSE stays weaker, but off lows

South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.

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/ 20 May 2008

JSE pauses after strong run

The JSE was taking a breather on Tuesday after its recent strong rally, which took the bourse to successive record highs, as some profit-taking set in. However, earlier the all-share index hit yet another fresh record high when it touched 33 263,148. At noon, the JSE’s all-share index was down 0,88%.

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/ 16 May 2008

Resources boost JSE to new high

South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.

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/ 15 May 2008

JSE mixed, but SAB climbs

South African stocks were a mixed bag with a weaker bias at noon on Thursday, but brewer SABMiller climbed on above-forecasts year end earnings. At noon, the all-share index was down 0,16%. Resources fell 0,67%, the gold mining index was off 1,62% but the platinum mining index added 0,15%.

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/ 12 May 2008

JSE little changed on lack of news

South African stocks pulled back from modest gains achieved in early deals to trade flat at noon on Monday, as traders struggled to find a clear-cut path. At midday, the JSE’s broader all-share index was neither here nor there (+0,06%) at 32 154,700. Resources were up 0,20%, while the gold- and platinum-mining indices added 0,53% and 0,22% respectively.