The JSE continued to advance by noon on Friday as BHP Billiton's announcement from Thursday flowed through the market. On Thursday, BHP Billiton admitted to having made a play for rival Rio Tinto, which put to rest days of market speculation over whether BHP Billiton was in fact courting Rio Tinto over a potential tie-up.
The takeover bid of media company Johncom by Koni Media Holdings -- belonging in part to President Thabo Mbeki's political adviser Titus Mofolo -- was met with strong opposition by the Democratic Alliance and the South African Communist Party on Monday.
The JSE remained weak at midday on Monday, in line with overseas markets as the troubled US subprime housing market continues to unsettle investors worldwide. At noon, the JSE's all-share index was off 0,96%, resources fell 1.70%, the platinum mining index weakened 1,74%, but the gold mining index added 0,98% as the gold price stayed above $800/oz.
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%.
The JSE rose modestly at noon on Tuesday as investors became more optimistic that the United States Federal Reserve would cut interest rates, which would bolster Wall Street. Investors cheered the news that Tokyo Sexwale's Mevelaphanda group plans to buy up to 30% of Johncom's to-be-formed Opco.
South African media group Johnnic Communications (Johncom) on Tuesday announced a proposed change of name to Avusa, subject to shareholder and regulatory approval. Johncom said the name change to Avusa was relevant because of the ongoing confusion between the company and Johnnic Holdings.