Nedbank increased first-quarter net interest income by 21,9% to R3,87-billion but said it expected slower first-half earnings growth. Shares in Nedbank stood 1,59% down at R111,50 by 7.18am GMT on Wednesday, underperforming the JSE Securities Exchange’s Top-40 index which was 0,27% weaker.
Commodity counters and positive Dow futures kept the JSE firm by midday on Thursday, with platinum counters leading the gains, traders said. At noon, the JSE’s broader all-share index was up 1%. The platinum mining index advanced 2,89%, resources climbed 1,89% and the gold mining index was up 1,59%.
The JSE remained firm by midday on Tuesday as overnight gains in the United States triggered good buying interest among global equities. By noon, the JSE’s broader all-share index was up 2,22%. Banks gained 3,1% and financials lifted 3,06%.
The JSE set a new trading record of 119 548 trades on Thursday March 20, the exchange reported on Tuesday. This follows what it terms "an exceptionally successful" futures close-out on Thursday, which contributed to the record. "Once again, this reaffirms our position as the number one market for single stock futures in the world," said Russell Loubser, CEO of the JSE Ltd.
Power may have to be cut to South Africa’s vital gold and platinum mines if more generators fail because of bad weather, Eskom said on Tuesday, sending local mining shares tumbling. ”At the moment we are in a very tight situation,” said Eskom spokesperson Andrew Etzinger.
Firm resource stocks helped the JSE extend its gains by midday on Thursday, even though bank and financial counters were softer. By noon, the JSE’s broader all-share index lifted 1,17%, led by a 1,94% advance in resources. The gold mining index recovered 0,98% while the platinum mining index edged up 0,04%.
The JSE was up 0,82% at midday on Tuesday as advances in the platinum and resource sectors added support. However, financial and bank stocks had started to weigh. By noon, the JSE’s platinum mining index advanced 2,14%, resources gained 1,75% and the gold mining index edged up 0,08%.
Standard Bank has received a R16-billion boost to its capital base after completion of a deal in which China’s biggest lender ICBC took a 20% stake, it said on Monday. International and Commercial Bank of China, the world’s biggest lender by assets, said in October last year it would pay ,5-billion for the stake in Standard Bank.
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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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/ 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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/ 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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/ 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.
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/ 14 December 2007
A weaker bank sector forced a positive JSE to pull back into the red by midday on Friday, leaving the all-share index 0,14% lower at noon. The JSE’s bank index was down 1,38% at midday as local and international traders questioned whether the move by the central banks to inject liquidity into financial markets was enough to settle global credit concerns.
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/ 29 November 2007
After being sharply firmer earlier in Thursday, weaker local producer price index (PPI) data forced the JSE to pull back at midday, even though world markets were firm. The JSE had been up as much as 533 points during the day, but by midday, it was only 337 points in the black.
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/ 7 November 2007
The JSE, ranked among the top 20 exchanges worldwide in terms of market capitalisation, will celebrate its 120th birthday on Thursday, it said in a statement on Wednesday. ”Today [Wednesday], the JSE’s total market capitalisation is over R6-trillion with approximately 400 companies listed,” said Russell Loubser, CEO of the JSE.
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/ 25 October 2007
South African bank shares leapt on Thursday after reports that China’s biggest bank, Industrial and Commercial Bank of China, has agreed to buy a 20% stake in Standard Bank, in a deal reported to be worth ,5-billion. Trading in Standard Bank shares was halted ahead of the release of a statement by the bank on the outcome of negotiations.
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/ 24 October 2007
Africa’s biggest banking group by assets, Standard Bank, said on Tuesday it was in talks which if successfully concluded might affect its shares, sending the company’s stock higher. Standard Bank said in a statement that it expected to make an announcement soon.
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/ 18 October 2007
The JSE was clutching on to gains at midday on Thursday as heavyweights in the resources and industrial sector kept the bourse firm. BHP Billiton and Anglo American kept the resource index up, and SABMiller lifted the industrial index. By noon, the all-share index was 0,13% higher as industrials advanced 0,25%.
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/ 11 September 2007
The policy of affirmative action in South Africa will remain, despite calls from some labour unions to end it, the chief executive of Business Unity South Africa told Parliament on Tuesday. Since the end of apartheid, the government has targeted black South Africans, women and the disabled for preferential treatment when it comes to jobs which they previously had no access to.