Richemont’s full year earnings have slowed in comparison with the last three years, as the Chinese government cracked down on spending by officials.
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Luxury brands have turned their attention to female customers with an aim to have them buy as many watches as they do shoes.
Sales of luxury goods grew at a lower rate than expected as China continues to clamp down on the use of watches and jewellery as bribes.
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Richemont’s revenue growth has slowed in China as a result of more prudent Chinese consumers and a government crack-down on jewellery used as bribes.
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Shell’s Karoo fracking plans have catalysed a battle between the government and farmers as well as conservationists like billionaire Johann Rupert.
We might think we’re big in mining, synthetic fuels, cellphones or banking, but our biggest listed company on the JSE soon will be in tobacco.
The unbundling of British American Tobacco to shareholders — and its secondary listing on the JSE — has been heralded as "a fantastic deal".
South African stocks remained lower at noon on Friday as the mining sector continued to take a pounding on weaker commodity prices. At 12.02pm, the all-share index was down 1,03%. Resources fell 2,15%, while the gold and platinum mining indices lost 1,37% and 0,65% respectively.
The JSE extended losses at midday on Friday as profit taking-induced selling on resources offset modest gains among banks and financials, traders said. At 12.03pm, the JSE’s all-share index was down 1,24%, weighed by a 1,75% drop in resources. The gold mining index was off 0.18% but the platinum mining index added 0,17%.
The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE’s all-share index was up 0,98% at 33 230,590 after earlier touching a fresh all-time high of 33 309,820.
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/ 12 February 2008
The JSE held on to gains at midday on Tuesday as investors chased after bargains following Monday’s sharp losses amid strong metal prices and firmer overseas markets. By 11.59am, the broader all-share index had added 0,82% to 27 860,790 thanks to a 3,27% gain in the platinum-mining index.
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/ 7 February 2008
Platinum-mining stocks continued to shine brightly on the JSE by midday on Thursday, but even this dose of positive news failed to keep the bourse in the black as a slow European market weighed. By noon, the broader all-share index had slipped 0,02% into the red. Banks dropped 1,07% and financials gave up 0,47%, while industrials pulled back 0,83%.
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/ 7 November 2007
The JSE was a touch higher at midday on Wednesday, lifted by miners on soaring metal prices, but weaker overseas markets and the stronger rand dampened the overall mood. At noon, the all-share index was up just 0,12% higher, thanks to a 2,31% and 1,70% gains by the gold and platinum mining indices.
<b>A reader asks:</b>
I am a retired 61-year-old guy, married, with my own house and no debts. But I will have to invest wisely and conservatively for my family’s future. This latest equity crash has made me very, very gun-shy of the stock market. How then would you recommend I invest?