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/ 12 February 2008
The JSE held on to gains at midday on Tuesday as investors chased after bargains following Monday’s sharp losses amid strong metal prices and firmer overseas markets. By 11.59am, the broader all-share index had added 0,82% to 27 860,790 thanks to a 3,27% gain in the platinum-mining index.
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/ 11 February 2008
A tired-looking JSE was 89 points in the red by noon on Monday as weak global markets continued to weigh. By midday, the broader all-share index had shed 0,32%. The gold-mining index pulled back 1,42%, resources added 0,05% and the platinum-mining index was up 0,97%. Industrials fell 0,77%, financials were down 0,29% and banks gave up 0,29%.
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/ 8 February 2008
A firmer United Kingdom equities market added more support to the JSE by midday on Friday, lifting the bourse after a lacklustre start. By noon, the broader all-share index had gained 0,6%. Banks collected 1,36% and financials advanced 0,65%.
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/ 7 February 2008
Platinum-mining stocks continued to shine brightly on the JSE by midday on Thursday, but even this dose of positive news failed to keep the bourse in the black as a slow European market weighed. By noon, the broader all-share index had slipped 0,02% into the red. Banks dropped 1,07% and financials gave up 0,47%, while industrials pulled back 0,83%.
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/ 7 February 2008
BHP Billiton, the world’s biggest mining company, sweetened its takeover bid for rival Rio Tinto on Wednesday to ,4-billion, but its proposal was again rebuffed. Amid reports that Rio Tinto could become the centre of a bidding battle, the company’s management rejected the BHP offer as ”not being in the best interests of shareholders”.
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/ 6 February 2008
BHP Billiton launched a hostile ,4-billion bid for rival Rio Tinto in a move that could trigger a Chinese-led counterbid in the world’s second biggest corporate takeover. Combined, BHP and Rio would create the world’s third-richest company, with a market capitalisation eclipsed only by Exxon Mobil and General Electric.
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/ 5 February 2008
The JSE changed course to turn negative by midday on Tuesday as weaker world markets and a bit of local profit -taking set in. By noon, the broader all-share index had given up 0,99%. Banks pulled back 2,39% and financials retreated 1,87%. Industrials lost 1,08% and the gold-mining index dipped 0,95%.
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/ 4 February 2008
The JSE had been lifted into the black by noon on Monday as firmer world markets and advances in the bank sector helped enliven the bourse after its soft opening. By noon, the broader all-share index had gained 0,92% to 29 016,26 points. Banks perked up 2%, while financials advanced 1,63% and industrials collected 1,66%.
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/ 31 January 2008
A weaker rand drove mining shares higher on the JSE by midday on Thursday, lifting the bourse 0,88% into the black. By noon, the platinum-mining index was 2,74% higher, while the gold-mining index advanced 2,36% and resources were up 2,04%. Industrials edged up 0,16%, but financials and banks were off 0,66% and 1,24% respectively.
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/ 30 January 2008
The JSE ignored CPI data that came in slightly higher than market expectations and continued to gather momentum by midday on Wednesday on news that power had been restored to the mining industry. December CPI came in at 9% year-on-year, while the market expected 8,9%, and CPIX came in at 8,6%, against the expected 8,5%.
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/ 29 January 2008
Mining company Rio Tinto will review plans for a major aluminium investment in South Africa as the country continues to suffer from serious power shortages — the first sign that the current crisis could hit foreign investment, the Financial Times reported on Tuesday.
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/ 29 January 2008
Positive sentiment flowing through from world markets and a boost from the platinum mining sector helped support the JSE on Tuesday. Speculation that mines could return to production after operations had been halted the last few days because of power supply concerns, underpinned the rally in the mining and resources sector.
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/ 28 January 2008
A pull back in global equity markets as well as local concerns about power-supply shortages continued to keep the JSE at weak levels by midday on Monday. By noon, the JSE’s broader all-share index was down 2,79%. Banks pulled back 3,89% and financials were off 2,55%. The platinum-mining index gave up 3,65% and the gold-mining index weakened 1,11%.
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/ 26 January 2008
The ”nightmare” of South Africa’s major gold, platinum and diamond mines shutting down because of power failures became a reality on Friday. ”Tens of millions of rands a day are being lost. It’s a nightmare,” said T-sec chief economist Mike Schussler. The JSE gold mining sub-sector closed almost 6% lower on Friday. The move contributed to the gold price rising.
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/ 25 January 2008
Gold and platinum mining stocks were sharply in the red by midday, led by news that local mines had halted production over power supply concerns. However, the JSE was still holding onto its gains, which was underpinned by the rally in Asian markets.
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/ 24 January 2008
Bargain hunting among global equity markets underpinned a solid performance on the JSE on Thursday, lifting it by 3,3% at noon. By the same time, resources had collected 4,74%, the platinum-mining index advanced 5,1% and the gold-mining index added 1,51%. Industrials perked up 2,25%, financials gained 2,2% and banks were 2,07% higher.
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/ 23 January 2008
The JSE was only 0,42% in the black in midday trade on Wednesday, having pulled back after being up sharply earlier, as it started to track the FTSE and negative Dow futures, according to a trader. By 12.18pm, resources gained 1,11% and the platinum-mining index added 0,17%, but the gold-mining index was off 0,76%. Financials climbed 1,01% and banks edged up 0,11%.
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/ 22 January 2008
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%.
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/ 21 January 2008
South Africa was set on Monday to ration electricity in a bid to stem a spiralling crisis that has dealt a severe blow to its status as the continent’s economic powerhouse. After mounting anger over daily power cuts that have cost business hundreds of millions of rands, the government said it was drawing up plans that could see consumers fined if they exceed set quotas.
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/ 21 January 2008
A sharp decline in global equity markets driven by fears of a global economic slowdown and a United States recession has led to a big sell-off on the JSE on Monday. By noon, the JSE’s broader all-share index had lost 3,32% to 25 768,400 points.
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/ 17 January 2008
South Africa’s future growth could be severely compromised by the country’s lack of sufficient power capacity, the Democratic Alliance (DA) said on Thursday. DA spokesperson Hendrik Schmidt said: ”South Africa’s lack of reserve power capacity has now reached catastrophic proportions and if left unchecked threatens to undermine future growth prospects.”
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/ 17 January 2008
Resource heavyweights Anglo American and BHP Billiton forced the JSE to turn around from its positive start, dragging it lower by midday on Thursday. At noon, the broader all-share index shed 0,44% as resources lost 2,07%. The platinum- and gold-mining indices pulled back 1,14% and 0,27% respectively.
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/ 16 January 2008
The JSE remained sharply weaker by midday on Wednesday, in line with other world markets, which were also experiencing a bumpy ride. At noon, the JSE’s all-share index was 2,97% in the red. The gold- and platinum-mining indices slumped 4,09% and 4,07% respectively, while resources were off 3,27%.
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/ 15 January 2008
Lower gold-mining stocks as a result of profit-taking weighed on the JSE on Tuesday, leaving the bourse 0,31% in the red by midday. At noon, the gold-mining index had pulled back 2,51%, but the platinum-mining index was 0,49% firmer, while resources added 0,54%. Industrials gave up 1,16%, banks lost 0,88% and financials were off 0,76%.
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/ 14 January 2008
The JSE was in the red at midday on Monday, taking its cue from lower overseas equity markets. By noon, the broader all-share index had shed 0,13% to 27 474,230 points. Industrials were down 0,56%, while banks lost 0,43% and financials were off 0,29%.
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/ 10 January 2008
The JSE was under pressure by midday on Thursday as investors were uncertain about the outcome for European markets ahead of the European Central Bank and Bank of England interest-rate decisions later in the day. By noon, the broader all-share index had pulled back 0,49%. The gold-mining index gave up 1,12%, while resources were a slight 0,01% in the red.
The JSE was firmer by midday on Tuesday as a weaker United States dollar helped precious metals boost mining stocks on the bourse. By noon, the broader all-share index was 0,57% better, led by a 1,74% climb in the gold-mining index. The platinum-mining index gained 1,4% and resources added 1,17%.
An indication from positive United States futures that a battered Wall Street could open firmer on Monday, led to a slight recovery on the JSE by noon. The JSE was down over 1,5% in the morning session on concerns that the US market could go into a recession after job numbers came out worse than expected on Friday.
South African stocks extended gains at midday on Friday, bolstered by strong gains among miners amid rampant commodity prices, while a healthy start in European markets added to the upbeat sentiment. But volumes remained thin as some players remained on the sidelines ahead of the United States December non-farms payrolls data due out later in the day.
South African stocks were sharply higher at noon on the first trading day of 2008, but volumes remained low as most traders are still on their festive-season break. By noon on the JSE, the all-share index was 1,05% higher. Resources added 1,24%, the platinum-mining index was up 1,88% but the gold-mining index was flat.
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/ 28 December 2007
The JSE had recovered some of its earlier losses by midday on Friday, but was still over half a percent in the red. It had been down as much as 0,93% for the day. By noon on the JSE, the all-share index was 0,55% lower. The gold- and platinum-mining indices pulled back 2,42% and 1,17% respectively, while resources lost 0,46%.
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/ 24 December 2007
The gold mining index added some cheer to the JSE ahead of Christmas celebrations, helping the bourse to close 0,59% firmer on Monday. The JSE closed at midday ahead of the two-day Christmas holiday and will reopen on Thursday. The gold mining index ended 2,95% higher, while resources added 0,81% and the platinum mining index recovered 0,62%.