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/ 22 January 2008

Rainbow nation, red tape

I have spent most of my life trying to fight injustice — and thankfully there is still the space to do so in South Africa. But not once did I consider the impact of South Africa’s archaic public- and private-sector rules on people who were born elsewhere. Of course, for many if not most political and economic refugees, coming to South Africa is a harrowing experience.

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/ 21 January 2008

House-price growth flat in December, says bank

South African median home prices were flat in December last year after moderating to 6,5% year-on-year (y/y) in November from 10,2% y/y growth in October, the Standard Bank’s property gauge showed on Monday. In level terms, the median house price was recorded at R550 000, bringing the five-month moving average growth rate to 5,6% y/y.

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/ 17 January 2008

Weaker Anglo, BHP Billiton soften JSE

Resource heavyweights Anglo American and BHP Billiton forced the JSE to turn around from its positive start, dragging it lower by midday on Thursday. At noon, the broader all-share index shed 0,44% as resources lost 2,07%. The platinum- and gold-mining indices pulled back 1,14% and 0,27% respectively.

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/ 4 January 2008

JSE extends gains on miners, world markets

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.

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/ 3 January 2008

Gold shines at new record high near $868

Gold struck a new all-time peak of almost $868 dollars on Thursday as the precious metal benefited from its safe-haven status amid record high oil, a struggling dollar and Pakistan tensions, analysts said. The price of gold reached a historic $867,90 an ounce on the London Bullion Market. It later slipped slightly to stand at $866,90.

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/ 3 January 2008

JSE stays weak, but miners rally

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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/ 2 January 2008

JSE extends gains, volumes thin

South African stocks were sharply higher at noon on the first trading day of 2008, but volumes remained low as most traders are still on their festive-season break. By noon on the JSE, the all-share index was 1,05% higher. Resources added 1,24%, the platinum-mining index was up 1,88% but the gold-mining index was flat.

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/ 28 December 2007

JSE down, but off earlier lows

The JSE had recovered some of its earlier losses by midday on Friday, but was still over half a percent in the red. It had been down as much as 0,93% for the day. By noon on the JSE, the all-share index was 0,55% lower. The gold- and platinum-mining indices pulled back 2,42% and 1,17% respectively, while resources lost 0,46%.

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/ 24 December 2007

Gold miners add to Christmas cheer

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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/ 14 December 2007

JSE softer as banks fall on concerns

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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/ 7 December 2007

The ideal stokvel account

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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/ 4 December 2007

Bank still optimistic on house prices

A soft landing for the residential property market is expected after strong double-digit growth between 2003 and 2006, Standard Bank said on Tuesday. The bank’s median house-price index moderated to 6,5% year-on-year in November following a relatively strong growth of 10,2% y/y recorded in October.

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/ 4 December 2007

Anglo, Billiton still weigh on JSE

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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/ 27 November 2007

JSE flat after weak opening

A weaker rand offset the JSE’s earlier losses on Tuesday and the bourse was flat by midday. The JSE initially opened weaker following an overnight drop on Wall Street. At noon, the JSE’s all-share index was barely changed (+0,02%). The gold mining index climbed 0,62%, and resources lifted 0,24%.

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/ 27 November 2007

Emerging equity markets increasingly attractive

Equity markets in the emerging world have weathered the subprime credit crunch in developed markets more easily than any previous market turmoil, and are expected to remain a sought-after investment destination — if not a safe haven — for many years to come, according to the head of equity research at Old Mutual Investment Group South Africa.

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/ 23 November 2007

World markets boost a recovering JSE

World markets injected some life into the JSE at midday on Friday as the all-share index lifted 0,90%, led by a 1,78% gain in resources. By noon the gold mining index collected 0,35%, but the platinum mining index was up a slight 0,06%. Financials advanced 0,51% and banks inched up 0,28%. Industrials were 0,09% in the black.

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/ 20 November 2007

JSE lower on volatility among miners

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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/ 16 November 2007

JSE weakened by commodities

The JSE was slightly firmer at midday on Friday than it was during the morning session but it remained negative, as commodity stocks continued to be paralysed on the local bourse. By noon, the JSE’s all-share index declined 0,72%, led by a 2,25% drop in the platinum mining index.

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/ 12 November 2007

JSE slowly lifts on back of BHP announcement

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.

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/ 7 November 2007

JSE slightly higher on miners

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.

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/ 2 November 2007

JSE down on world markets

The JSE recouped some of its earlier losses, but remained lower at midday on Friday on hopes that United States jobs data due out later in the day would support a case for another rate cut in the US. The local bourse was down more than 340 points in early trade following similar drops overseas stemming from renewed US subprime housing-market concerns.

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/ 1 November 2007

JSE turns around on profit-taking

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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/ 29 October 2007

Three ATMs bombed on Vaal Rand

Three ATMs were bombed while another ATM bomb was deactivated in Vanderbijlpark on Monday, Vaal Rand police said. ”The first blast took place in Shakespeare at about 1am and another, at about 3.10am, [took place] at a Shell filling station in Evaton,” said spokesperson Captain William Mcera.