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/ 1 November 2007
After being up about 280 points from its previous close at one stage, the JSE had turned around by midday on Thursday in what traders described as "solid profit-taking." By noon, the all-share index was off 0,31%, led by a 0,57% fall in resources, a 0,98% decline in the gold-mining index and a 1,58% easing in the platinum-mining index.
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/ 1 November 2007
Oil leaped more than 1% on Thursday, briefly topping for the first time and extending the previous day’s 5% jump after an unexpected sharp fall in United States crude stocks and data showing strong economic growth. The rise toward oil’s inflation-adjusted peak of ,70 from April 1980 was also supported by US dollar weakness after a Federal Reserve interest rate cut.
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/ 31 October 2007
The JSE was lower at noon on Wednesday on pockets of profit taking amid caution ahead of the United States interest rate decision later in the day. At noon, the all-share index was off 0,49%. Resources fell 0,96%, the platinum mining index gave up 0,11% but the gold mining index was up 1,70%.
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/ 22 October 2007
The euro rose to a new all-time high against the dollar on Monday after a weekend meeting of the Group of Seven finance ministers ended without a clear statement of concern about the 13-nation currency’s strength. The euro rose as high as ,4348 in Asian trading, breaking a previous record of ,4319, set on Friday.
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/ 27 September 2007
The dollar fell to a new record low against the euro for a sixth successive session on Thursday, as investors braced for more economic reports that could reinforce expectations of another United States interest-rate cut in October. US economic data this week has provided no respite for the beleaguered dollar.
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/ 25 September 2007
The euro resumed its record-setting run against the dollar on Tuesday, climbing to ,4153 after a pair of economic reports painted a dismal picture for United States consumers and the ailing home sales market. The strength of the euro drew concern, with Spain’s finance minister warning of problems.
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/ 19 September 2007
The JSE extended its gains by midday on Wednesday following the rally in world markets that was driven by a strong performance on Wall Street overnight. Wall Street surged on news that the United States Federal Reserve had cut interest rates by 50 basis points, creating a positive sentiment for investors for bargain-hunting.
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/ 19 September 2007
The United States Federal Reserve on Tuesday night slashed interest rates in a dramatic move designed to prevent the ailing US economy falling into recession. Abandoning its previous hardline stance against inflation, the Fed cut by half a point both its federal funds rate and the discount rate at which banks lend to each other.
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/ 18 September 2007
Traders said South African markets may be under pressure on Tuesday as credit worries persist, but the upcoming United States interest rate decision will be the main focus. At 6.35am GMT, the rand stood at 7,23 to the dollar, softer than its New York close of 7,22 on Monday. Traders said the rand will probably trade in a ,17 to ,27/range.
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/ 17 September 2007
Alan Greenspan, the Washington insider and long-time head of the United States central bank, has said the invasion of Iraq was motivated by oil. His claim comes in his newly published autobiography, The Age of Turbulence, in which he also castigates George Bush’s administration for making ”grave mistakes” in economic policy.
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/ 16 September 2007
Svetlana Kuznetsova saved two match points in the second set tiebreaker before beating Francesca Schiavone 4-6 7-6 7-5 in the first reverse singles on Sunday to give Russia their third Fed Cup title in four years. Kuznetsova’s victory gave the home team an unassailable 3-0 lead over last year’s surprise winners Italy in the final at Moscow’s Luzhniki arena.
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/ 16 September 2007
Former Federal Reserve chairperson Alan Greenspan, in a memoir to be released on Monday, criticised President George Bush and congressional Republicans for abandoning fiscal discipline and for putting politics ahead of sound economics. In his book, Greenspan said he was surprised Bush was unwilling to temper his campaign promises with fiscal reality once elected.
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/ 12 September 2007
The dollar plunged to a record low against the euro on Wednesday as an expected interest-rate cut next week from the Federal Reserve has dampened the United States currency’s appeal. The dollar also dropped to a fresh 15-year trough against a basket of currencies.
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/ 10 September 2007
European stocks fell by midday on Monday in a choppy session as gains in commodity stocks were overshadowed by mounting concern that the United States economy could be headed for recession after Friday’s dismal jobs report. Oil and gas shares were the top performers on the broader European market in spite of a fall in crude oil futures.
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/ 8 September 2007
The Bush administration defended its economic record on Friday, following a report that showed the economy lost 4 000 jobs in August, the first job loss in four years. The administration said that the tax cuts enacted in Bush’s first term in office were ”helping keep our economy strong, flexible and dynamic”.
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/ 5 September 2007
South Africa’s business confidence slipped further in August to its lowest level in 2007, affected by global financial market turbulence, the South African Chamber of Business (Sacob) said on Wednesday. The Sacob Business Confidence Index declined to 98,1 from 99,6 in July, confirming a downward trend as most of the indicator’s sub-indices deteriorated during the month.
United States stocks rose on Friday amid optimism a White House-proposed mortgage assistance package could ease liquidity conditions. President George Bush set out measures to help homeowners with subprime mortgages refinance into new loans, but warned that the government’s job was not to bail out speculators.
United States President George Bush will outline reforms on Friday to help struggling subprime mortgage borrowers and his central bank chief will deliver a speech which will be pored over for hints of a looming rate cut. Federal Reserve chairperson Ben Bernanke speaks on ”Housing and Monetary Policy” at around 2pm GMT.
After a lavish ceremony to commemorate the 50th anniversary of Althea Gibson’s first United States title, Venus and Serena Williams, the two women who carry the hopes of the nation at this year’s US Open, played their first-round matches back-to-back in the Arthur Ashe Stadium.
After ending 1,5% higher on Monday, the JSE was back in the red on Tuesday morning following a decline in the Dow overnight. However, the local bourse was being cushioned somewhat by the softer rand and good interest in direct miners. By 12.11pm, the all-share index was off 0,15%.