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/ 1 November 2007
After being up about 280 points from its previous close at one stage, the JSE had turned around by midday on Thursday in what traders described as "solid profit-taking." By noon, the all-share index was off 0,31%, led by a 0,57% fall in resources, a 0,98% decline in the gold-mining index and a 1,58% easing in the platinum-mining index.
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/ 17 October 2007
At the end of an emotional day of testimony, murder accused Fred van der Vyver on Wednesday formally denied that he killed his student girlfriend Inge Lotz. Van der Vyver was in the witness box for the second day, following a successful application by his defence team to reopen its case to hear his testimony.
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/ 16 October 2007
Murder victim Inge Lotz broke down in tears on the morning of her murder, her former boyfriend, Fred van der Vyver, who is accused of killing her, told the Cape Town High Court on Tuesday. Van der Vyver took the stand after an apparently precedent-setting ruling by Judge Deon van Zyl, which allowed the defence to reopen its case when final arguments were already under way.
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/ 11 October 2007
South African petrochemicals and fuels group Sasol has sold 20% of its mining subsidiary to a black women-controlled mining company for R1,9-billion, the company said on Thursday. Sasol said the black women-controlled firm, Ixia Coal, will acquire the stake through the issue of new shares.
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/ 10 October 2007
The JSE remained firm at midday on Wednesday but was off its earlier all time high of 31 291,74. The initial spurt had been prompted by a record close on Wall Street overnight, but European markets are lower and the United States futures are also negative, which brought the JSE back from its record level reached earlier in the session.
The benefits of your pension fund might not necessarily go to the people you nominate. Ultimately trustees of pension funds have to consider financial dependency and financial needs over your own wishes when making payments. This is to ensure that your dependants are taken care of and that those who most need financial help receive it.
Insurer Old Mutual plans to buy back £350-million of its shares, roughly 4% of its capital, as part of a programme to improve capital efficiency, it said on Wednesday. South Africa’s largest insurer had said earlier this year it was not considering major acquisitions and could hand excess cash back to shareholders.
The JSE was firm at midday on Wednesday, driven higher by sharply stronger banks and financial stocks. By noon, the all-share index had collected 0,49% as banks and financials advanced 3,07% and 2,30% respectively. The platinum mining index recovered 0,94% and resources edged up 0,12%.
Murder accused Fred van der Vyver’s legal team has told the Cape High Court it wants him to testify in his own defence. The surprise move came on Tuesday afternoon after the state had already delivered its closing arguments, and Van der Vyver’s advocate Dup de Bruyn had begun his.
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/ 28 September 2007
The Premier Soccer League’s (PSL) newly announced R500-million sponsorship deal with Absa and the five-year R1,6-billion broadcast deal it struck with SuperSport International confirm South Africa as one of the richest football leagues in Africa and the developing world.
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/ 27 September 2007
Foreign-owned companies in Zimbabwe said on Thursday they were assessing the likely effects on their business of a new law forcing them to give local owners majority holdings. The Empowerment Bill, pushed through Parliament by the government on Wednesday, will give Zimbabweans a 51% stake in foreign firms, including the important mining and banking sectors.
The JSE remained firm at midday on Thursday, with platinum miners a feature following strong results from Impala Platinum earlier in the day. A 2% gain on Wall Street overnight and generally firm global bourses were also helping. By noon, the all-share index was 0,82% higher. Resources were 0,75% better and the gold-mining index advanced 0,90%.
The JSE was off its earlier lows by midday on Wednesday as investors looked for value after the recent sharp sell-off. After starting weaker on the back of a sharp fall on Wall Street overnight, the JSE was looking a little better late morning. The Dow shed 2% on Tuesday and Tokyo shares ended down 1,7%, but London shares have turned around.