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/ 3 September 2007
Information and communication technology (ICT) in South Africa is expected to get a boost from the 2010 Soccer World Cup, with infrastructure providers and local government spending billions to ensure a successful tournament, according to key players at the recent ICT Journalist Media Forum.
No image available
/ 3 September 2007
The JSE continued on a lacklustre path as it edged up slightly from its flat open to trade 0,68% higher at midday on Monday. World markets were also flat at midday amid a continued lack of activity as United States traders took a day off to celebrate Labour Day. By midday on the JSE, the all-share index was up 0,68%.
The JSE was up strongly at midday on Wednesday, taking its cue from a rally in Asian markets. The Hang Seng gained 2,84% and the Shanghai added 0,5%, while the Singapore Straites Times collected 2,61%. At midday on the JSE, the all-share index was up 1,67%. Resources gained 2,31%, and the gold- and platinum-mining indices edged up 0,79% and 0,45% respectively.
The JSE was mixed at midday on Tuesday as world markets started to pull back off their highs after United States futures indicated a weaker opening on Wall Street. At midday on the JSE, the all-share index was 0,52% lower. Resources shed 0,69%, and the gold- and platinum-mining indices retreated 2,22% and 0,38% respectively.
The JSE continued to trade in positive territory in midday trade on Monday with world markets stronger after Wall Street’s recovery on Friday. At midday on the JSE, the all-share index was up 2,29%. Resources climbed 2,78% and the gold and platinum mining indices added 1,20% and 1,22% respectively.
The JSE remained firmly in the red by noon on Thursday as subprime concerns continued to plague investors. At midday, the JSE all-share was off 3,26%. Resources lost 3,87%, the gold-mining index was 3,42% lower and the platinum-mining index fell 2,84%. Financials shed 3,26% and banks tumbled 4,10%, while industrials were down 2,56%.
The JSE continues to hover in weaker territory as credit concerns resurface, leading world markets and the local bourse lower. At midday, the JSE all-share was off 1,28%. Resources lost 1,13%, the gold-mining index was 0,56% lower and the platinum-mining index fell 1,82%. Financials shed 1,44% and banks pulled back 1,54%, while industrials were down 1,35%.
After being down almost 1% earlier, the JSE managed to claw its way back into positive territory by midday on Tuesday as the weaker rand lent some support to resources stocks and Dow futures were up. A trader said that the Dow futures were looking positive — up 30 points — which is an indication of a firmer start on Wall Street later this afternoon.
The JSE was holding on to gains of over 1% at midday on Monday as world markets tread in positive territory after last week’s global credit concerns started to fade. The FTSE was up 1,69%, the Hang Seng added 0,45% and the Nikkei gained 0,21%. At midday, the JSE all-share index climbed 1,10%.
The JSE plummeted a massive 1 132 points — more than 4% — on Friday as global credit fears submerged the local bourse in a bloodbath. The last time the JSE lost almost 1 000 points was on February 27 this year, according to a local trader. However, the 4,02% drop in the market was not the biggest seen by local investors.
The JSE continued its fall at midday on Friday, taking its cue from world markets, which were retreating further as international credit worries weighed heavily. At midday, the JSE all-share index had dipped 3,18%, with resources tumbling 4,01%, the gold mining index losing 3,01% and the platinum mining index falling 3,11%..
The JSE was still firm at midday on Wednesday on the back of firmer world markets and a slight pick-up in emerging markets. At midday, the FTSE was up 0,43%, the Hang Seng was up 2,87% and the Nikkei was up 0,64%. At 12pm, the JSE all-share index was 1,93% higher.
Although still 117 points in the red, the JSE perked up in midday trade on Monday after news that the government would not impose a windfall tax on petrochemicals giant Sasol. The local bourse received added support from signs that global markets were beginning to turn around after last week’s huge sell-offs.
The JSE was in positive territory at midday on Friday, trading 169 points in the black. The resource index was driving the market after Anglo American released good results on Friday. At 12.06pm, the JSE all-share index had gained 0,61%, with the resources adding 1,09% and platinum climbing 0,77%.
The JSE was in positive territory at midday on Thursday, but off its best levels reached earlier in the morning. The all-share was last up 60 points after having been up 304 points at one stage. At 12pm, the JSE all-share index gained 0,22%, with the resources and platinum indices flat (up 0,03% and -0,04% respectively), and the gold-mining index slipping 0,84%.
The JSE was down sharply at midday on Wednesday as United States sub-prime issues and low quality mortgage loan concerns led the Dow lower, which had a knock-on effect on the rest of the world. At 12.03pm, the JSE all-share index fell 2,79%, with resources dumping 3,25%, and the gold and platinum mining indices tumbling 3,75% and 4,63% respectively.
South African fixed-line operator Telkom said on Tuesday that its customers are set to benefit from an overall price reduction of 1,2% as of August 1. Telkom filed price changes on June 13, which have been subsequently approved by the Independent Communications Authority of South Africa.
The JSE was firmer at midday led by the resources sector which was being driven by stronger precious metal prices. At 12.03pm, the all-share index was up 1,39% as resources added 1,80%. The platinum mining index climbed 1,29% and the gold-mining index gained 1,03%.
The Competition Commission said on Monday that it has found that the conduct of MTN of charging Cell C the commercial interconnection rate in the same areas that it charges Vodacom community-service telephone rates amounts to price discrimination. The commission has referred the matter to the Competition Tribunal.
At midday, the JSE was still firm, but was a tad lower than its strong opening this morning as the financial index started to pull back. At 12.01pm, the all-share index was 0,98% better as resources added 1,94% and the platinum-mining index climbed 1,20%. However, the gold-mining index was off 0,64%.
After a see-saw ride in the morning, the JSE was trading sideways at midday on Thursday — seemingly tracking the FTSE 100, according to a trader. At 12:01pm, the all-share index was 0,10% lower from it’s close of 29 105,270 on Wednesday.
The JSE was hovering at tight levels at midday on Tuesday with the all-share a tad lower (-0,17%) and nervousness in the market adding to some profit-taking as the local bourse awaited data to be released this week in the hope of gaining some direction. At 12pm, the all-share index was 0,17% lower.
The JSE all-share index was in positive territory at midday on Friday as the gold-mining index shone brightly on the local bourse after tracking Shanghai on Friday night — which was up 4% — according to a local trader. At noon the all-share index was up 0,62%.
The JSE is following a trend where overseas markets are generally lower, and with the all-share down 1,01%, the local bourse seems to be sitting and waiting for United States markets to open as well as the release later of US data. At 12pm, the all-share index was 1,01% weaker at 29 565,770.
The local bourse was looking a little lifeless at midday on Monday, with the all-share index down most of the morning on the back of profit-taking, and the local market waiting for Wall Street to open to give it some direction.
The JSE came off in the opening on Wednesday but has come back a bit, supported by a tad lower rand at midday. The bourse has also had a little nudge by the resource index, which has improved. At 12.01pm, the all-share index was flat (-0,01%). Resources gained 0,50%, the gold index eased 0,76% and the platinum-index slipped 0,12%.
The JSE was slightly down at noon on Tuesday with all the shares looking toppish after the market’s good run the day before, according to a trader. At 12.01pm, the all-share index was flat (-0,06%). Resources lost 0,70%, the gold index rose 0,98% and the platinum index slipped 1,10%. Banks rallied 1,49%, financials added 0,67% and industrials strengthened 0,24%.
Applying for a home loan through a bond originator has become almost automatic in the past few years. Using a bond originator saves you time and paperwork and often means that banks’ turnaround time is reduced, so that you get quotes faster. Often, your estate agent will pass your name on to a mortgage origination company, meaning that you don’t even have to make the phone call; they’ll call you.
The <i>Financial Gazette</i> reported from Harare that Zimbabwe is in negotiations with Libya for a $2-billion loan to help stabilise the country’s economy, which is facing a huge crisis. This, according to the <i>Gazette</i>, was revealed to them by senior government sources.
The JSE was lacklustre on Friday, still following overseas markets. The rand was a tad softer at midday, which helped give a slight boost to the market. Traders said there was buying interest in metals counters, especially BHP Billiton shares, as well as banks.
The JSE was looking strong at midday, which was once again more resource driven. At 12.01pm the all-share index was up 0,52%. Resources strengthened 0,83%, while the gold index added 0,15% and platinum index lost 0,56%. Industrials climbed 0,30% and financials lifted 0,23%. Banks ascended 0,18%.
There were no major fireworks on the JSE at midday on Wednesday, with the market being stagnant — only slightly up from early trade — as United States markets were closed for the July 4 Independence Day. At 12pm, the all-share index was up 0,39%. Resources strengthened 0,51%, while the gold and platinum indices added 0,30% and 1% respectively.