Jacqueline Mackenzie

A strong performance from its Forest Products division and long-awaited price increases in Europe have helped South African-based pulp and paper producer Sappi produce its best quarter for a number of years. The group reported earnings per share of 25 United States cents for the quarter ended March.

SABMiller said on Thursday that its financial performance was in line with management’s expectations as good revenue growth was partially offset by higher input costs and increased investment across the business. The group said in a trading update ahead of the release of its full year financial results on May 17, that for the year to end March it recorded 23% growth in lager volumes.

After starting firmer, the JSE drifted weaker during the course of Friday morning’s session, but was just barely hanging on to positive territory just after midday on Friday. By 12.25pm, the all-share index was up 0,03% — or just eight points. The resources index was 0,20% higher and the gold mining index was ahead 0,21%.

The JSE remained on the softer side at midday on Wednesday as some sectors fell prey to profit taking. However, there were pockets of strength, notably industrial counters. At 12.21pm, the all-share index was down 0,23%, with resources off 1,34%, the gold miners 1,28% softer and platinums 0,87% in the red.

The JSE continued its upward momentum on Thursday, and although it was off its morning high of 25 075,99, it remained around the 25 000 level. This was the first time that the all share index had moved above the 25 000 level. By noon, the all share index was up 0,26%, aided by a 0,77% increase in resources, a 1,3% rise in golds and a 1,28% jump in platinums.

The JSE touched a fresh all-time high on Wednesday, albeit in thin volumes, aided by strong gains for gold miners and resources. Volumes were very thin as many players are away until the new year, having chosen to take the week between Christmas and New year off.

South African cellular operator Vodacom estimates that the South African market will reach 48-million by 2012. Speaking at the presentation of the group’s interim results on Monday, CEO Alan Knott-Craig said Vodacom is strategically placed for continued market leadership.

The JSE remained firm at midday on Wednesday, due mainly to strong commodities prices and the softer rand. Local investors were showing interest in retail stocks, a trader noted. By noon, the all share and all share industrial indices had added 0,32% and 0,25% respectively.

The JSE was at yet another record high at midday on Tuesday, boosted by resources and gold miners. By 12.04pm, the all share index had added 0,07%, with resources 0,78% ahead and gold miners 0,60% better. Industrials were off 0,22%, financials shed 0,78% and the banks index was 1,56% weaker. Platinum miners retreated 0,78%.

The JSE remained in the black at midday on Thursday, but was off its earlier best levels as resource stocks retreated as the firmer rand came into play. As was the case earlier in the session, banks and financial stocks were a feature. By noon, the all-share index was up 0,16%, aided by a 1,59% rise in the banking index and a 0,63% jump in the financial index.

After ending on a record high on Monday, the JSE was taking a breather on Tuesday, weighed down by weaker metals prices and a firmer rand. By noon, the all-share index was down 1,18%, due largely to a 3,33% fall in the gold-mining index, a 2,16% retreat in the resources index and a 1,74% decline in the platinum-mining index.

The JSE remained in the black at midday on Thursday, with gold and resources stocks giving the bourse support as the bullion price moved back above the $600 an ounce level overnight. Traders noted good demand for retail stocks earlier in the session, but prices for these stocks have come off a shade after worse than expected producer inflation figures.

After ticking slightly higher in early trade, the JSE was a tad softer by noon on Friday, with traders waiting for a lead from external factors. By noon, the all-share index was down 0,19%, with the gold-mining index down 1,93% and resources off 0,39%. Industrials were off 0,2%. Financials firmed 0,21% and banks advanced 1,01%.

The JSE was mostly flat by midday on Tuesday, with no fresh news to give the local market direction. Traders said with the United States market disappointing on Monday — it ended up just nine points after being ahead over 100 at one stage — the local market lacked impetus.

The JSE was firmly in the black at midday on Friday, in line with most European markets which shrugged off Thursday’s foiled airline terror attacks. By 12.13pm, the all-share index was up 0,87%, with resources 1,09% firmer, the gold-mining index 1,2% better and the platinum-mining index up 0,34%.

Airports Company South Africa’s (Acsa) network of airports is well on track to cater for the influx of tourists and visitors expected to arrive in the country for the 2010 Soccer World Cup, MD Monhla Hlahla said on Thursday. Key projects at Johannesburg, Cape Town and Durban International airports are in full swing.

The JSE was in the black at midday on Friday, lifted by resources, which were also firmer in London. The JSE’s gains came despite the firmer rand. By noon, the all-share index was up 0,11%. Resources added 0,79%, the gold-mining index was up 0,48%, while the platinum-mining index advanced 1,24%.

The JSE remained strong at midday on Friday with the overall market up 2% in line with firmer global markets and strong commodities prices. Following the decision by the United States Federal Open Market Committee to increase interest rates, Wall Street surged more than 2% on Thursday, posting its biggest one-day point gain in more than three years.

The South African rand was sharply firmer against the dollar in early trade on Friday after a slide in the dollar following the United States federal open market committee’s (FOMC) decision to increase interest rates on Thursday night. At 8.26am, the rand was bid at R7,1153 per dollar.

The JSE was off its worst levels by midday on Tuesday as some bargain hunting emerged after the all-share index fell over 800 points, or 3,7%, on Monday. The gold-mining index, which was off 4% earlier, had come back and by midday was 2,87% lower. By 11.53am, the all-share index had shed 0,92%, with the platinum-mining index down 3,58% and resources off 1,95%.

The JSE was down 2% at midday on Monday, following a more than 5% drop in both gold and platinum miners. Traders said the local bourse was following world markets, which were under pressure, while lower commodities prices were also weighing on sentiment.

The JSE remained in the red at midday on Thursday amid lower commodities prices, but was off its earlier worst levels as the weaker rand limited losses on the local bourse, traders said. By 11.50am the all share index was off 0,24% as resources shed 0,30%, the gold mining index fell 0,88% and the platinum mining index retreated 1,61%.

The JSE was at a fresh all-time high at noon on Wednesday, boosted by gains in resources as the bullion price moved through the $670 per ounce level. Several resources counters reached lifetime or long-term highs. By 11.47am, the all-share index was up 1% as resources climbed 1,96%, the gold-mining index jumped 2,02% and the platinum-mining index gained 1,50%.

After opening firmer on Thursday morning, the JSE was in negative territory by midday. Traders said there was some profit-taking, but volumes were on the thin side as many players have already left for the long weekend. There was little fresh corporate news, so players will turn to global markets, the rand and commodity prices for direction.

The JSE managed to cling onto its gains by midday on Monday in what traders described as an "unexciting" session. Commodities prices were the main feature on a day that otherwise lacked any market-moving news. By 11.55am, the all-share index had gained 0,19%, while the all-share industrial index declined 0,31%. Resources rose 0,9%, with the gold-mining index gaining 2,66%.

The JSE reversed its earlier losses by midday on Friday and was trading in the black, helped by gains in the resources and platinum-mining indices. By noon, the all-share index was up 0,78%, while the all-share industrials were 0,54% higher. Resources added 1,03% and the platinum-mining index was 1,35% better.

The JSE’s all share index was in the red at midday on Friday despite the weaker rand and mostly higher European markets. There was little corporate news on Friday to give the market direction. Traders were at a loss to explain the weakness, attributing it to selling ahead of the weekend after a good week on the local bourse.

After being pushed up hard towards the close on Thursday, the JSE started Friday in negative territory and remained lower at midday. Both a stronger rand and weaker world markets were weighing on the local bourse. By noon, the all-share index had shed 0,66%, led lower by a 1,39% decline in resources and a 1,44% fall in the gold-mining index.

Commodity stocks continued to be in vogue on Tuesday, pulling the JSE higher during the morning session. Gold and platinum stocks continued to find favour amid rampant precious metals prices, traders said. By 12.07pm, the all-share index was up 1,13%.