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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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/ 16 January 2008
Despite a significant dip in real retail sales in South Africa, analysts feel that risks remain for another rate hike on January 31. However, the central bank may also have to ponder that real retail sales could head into negative territory in the months ahead and lead consumers into a recession.
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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%.
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 remained weak at noon on Thursday in line with overseas markets, but a rally among miners helped soften the blows as gold continues to lead the commodities stampede. By noon on the JSE, the all-share index was 0,82%, or 239,2 points, weaker at 29 050,940, after dipping more than 350 points just after the opening.
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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%.
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/ 21 December 2007
The JSE extended its gains by midday on Friday as firmer world markets continued to direct it higher. By 12.02pm, the JSE’s all-share index had collected 1,95%, led by a 2,95% advance in the platinum mining index. Resources added 2,73% and the gold mining index rose 1,83%.
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/ 20 December 2007
The JSE continued on its upward path by midday on Thursday, unaffected by surprisingly better PPI data but encouraged by the futures market close-out. By 1158am, the JSE’s all-share index had improved 0,83%. The platinum mining index climbed 3%, and the gold mining index added 0,94%,
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/ 19 December 2007
South African consumer inflation raced further away from the central bank’s band in November, backing the case for another interest rate rise, despite a slowdown in retail sales. The targeted CPIX gauge — which strips out mortgage costs — jumped to 7,9% year-on-year from 7,3% in October.
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/ 19 December 2007
South Africa’s targeted CPIX inflation rate quickened to 7,9% year-on-year in November from 7,3% in October, official data showed on Wednesday. Statistics South Africa also said that the all-items consumer price index increased by an annual rate of 8,4%, compared to 7,9% in October.
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/ 18 December 2007
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Sanele ”Shanee” Moroka was a girl trapped in a boy’s body with feet trapped in too tight pumps in the voting queue in Polokwane. She doesn’t believe the ANC should remain a multi-class organisation and is wondering what will happen to her poor calloused palms after having tugged the comrades ”forward towards enlightenment”.
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/ 14 December 2007
At about 6pm last Sunday, after the Alfred Dunhill Championship at Leopard Creek in Malelane, the usual happened. Ernie Els gave a loser’s speech at a time when everyone was expecting him to threaten Tiger Woods. Even John Bickerton was in shock after having to be hauled from the clubhouse to collect the R1,4-million.
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/ 7 December 2007
A few friends and I collect R1 000 a month like a stokvel, but we need to invest this money instead of giving it to one person a month. We want to invest from February until November. There are five of us, so we will be putting in R5 000 a month. Please advise on how to invest this.
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/ 6 December 2007
South African Reserve Bank Governor Tito Mboweni on Thursday raised the repo rate by 50 basis points following a two-day meeting of the bank’s monetary policy committee. The increase pushes the repo rate to 11%, the prime overdraft rate to 14,5% and the tightening cycle that began in June last year to 400 basis points.
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/ 6 December 2007
The JSE posted strong gains in early trade on Thursday ahead of the Monetary Policy Committee’s interest rate decision expected later in the afternoon, with higher world markets adding some incentive for buying interest. At 9.21am, the all-share index was up 0,73% as the platinum mining index gained 1,19%.
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/ 5 December 2007
The JSE remained firm at noon on Wednesday in line with overseas markets, while ongoing mergers and acquisitions talk and higher commodity prices boosted miners. But investors remained jittery ahead of the local central bank’s interest rate decision on Thursday afternoon.
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/ 4 December 2007
Resource heavyweights Anglo American and BHP Billiton continued to weigh on the JSE in midday trade on Tuesday, with the all-share pulling back almost half a percent from its earlier levels. By midday, the JSE all-share index dropped 0,69% as resources gave up 0,96%. The gold-mining index shed 0,12% but the platinum-mining index improved 0,42%. Industrials lost 0,53%.
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/ 2 December 2007
South Africa’s Trevor Immelman won the 27th edition of the Nedbank Golf Challenge on Sunday, in spite of bogeying the final three holes at the Gary Player Country Club. He outplayed England’s Justin Rose, who blew up with a double-bogey six at the last, in what turned into a nervy two-horse race between the two players in the final round.
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/ 1 December 2007
A terrific duel between Justin Rose of England and South Africa’s Trevor Immelman at the Nedbank Golf Challenge continued at the Gary Player Country Club on Saturday. Both players scored five-under-par 67s to share the 54-hole lead on 16-under-par 200.
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/ 1 December 2007
Ernie Els believes he still has what it takes to catch Tiger Woods at the top of the world rankings. The South African is one year into his stated three-year plan to catch Woods, and believes he’s made significant strides towards this goal in 2007. ”I feel I’ve made some improvements,” Els said of Friday.
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/ 30 November 2007
Justin Rose of England fired a seven-under-par 65 on Friday, which equalled the day’s best round, while South Africa’s Trevor Immelman signed for a 66 as the pair shared the second-round lead on 11-under 133 in the Nedbank Golf Challenge. Heavy mid-morning rain before play started softened the Gary Player Country Club course.
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/ 30 November 2007
This weekend’s Nedbank Golf Challenge has already made the headlines, but it is likely to be remembered mostly for the late withdrawals by big-name stars. First it was world number three and two-time defending champion Jim Furyk withdrawing on ”doctor’s” orders. Then reluctant genius Sergio Garcia said he needed to rest for three months.
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/ 29 November 2007
Adam Scott of Australia and Trevor Immelman of South Africa both scored five-under-par 67s to share the first-round lead in the Nedbank Golf Challenge at Sun City on Thursday. English pair Justin Rose and Luke Donald are lying one off the pace on 68, with tournament favourite Ernie Els of South Africa, who is trying for a record fourth title in this annual 12-man event.
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/ 29 November 2007
The continued strong rises in credit extension provided little counter to the shocking inflation figures released on Wednesday and the chances of an interest-rate hike next week now seemed an almost assured fact, the Efficient Group said on Thursday. This comes after the South African Reserve Bank released both the October monetary aggregates and credit extension figures.
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/ 27 November 2007
Three of the world’s top 10 golfers and eight of the top 20 will contest the annual Nedbank Golf Challenge over the Gary Player Country Club course at Sun City, beginning on Thursday. South Africa’s world number five, Ernie Els, who is chasing a record four victories in the 27th edition of the tournament, is the highest ranked player in the 12-man line-up.
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/ 26 November 2007
The JSE was forced to give up some of its earlier gains but the gold mining index was keeping it in the black at midday on Monday. Shortly after its open, the JSE was up over 1%, but by midday, the all-share index had given up almost half of its gains as bank and financial stocks weighed.
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/ 21 November 2007
Miserable world markets dragged the JSE deeper into the red by noon on Wednesday. At noon, the all-share index dropped 1,23% and banks retreated 1,98%. Financials retreated 1,57% and industrials were off 1,81%. The platinum-mining index was down 1,36% and the gold-mining index pulled back 0,56%, while resources gave up 0,52%.
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/ 20 November 2007
Volatility in resource stocks, as well as in the mining indices, buried the JSE in the red at midday on Tuesday. At noon, the all-share index gave up 0,69%, led by a 1,69% pull back in the gold-mining index. Resources dipped 1,59% and the platinum-mining index was off 0,42%. Financials eased 0,27% and banks were unchanged (+0,01%), but industrials inched up 0,15%.
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/ 14 November 2007
The JSE was higher at midday on Wednesday as positive local results extended its gains from the morning session. In the morning, the JSE had opened stronger on Wall Street’s overnight rally, which created positive sentiment for overseas markets. By noon, the JSE’s all-share index had climbed 1,09%.
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/ 12 November 2007
The JSE started to show a slight turnaround on Monday as a renewed announcement by BHP Billiton added some buying interest among resource stocks. By midday, the JSE’s all-share index lifted 0,3% as resources collected 0,79%. However, the gold and platinum mining indices pulled back 0,91% and 1,4% respectively.