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/ 22 January 2008
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
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
Standard Bank says it is making significant strides in trying to ensure that investing on the stock market is accessible to average South Africans. Standard Bank Online Share Trading has again reduced its fees for 2008, the fourth fee reduction since January 2005.
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/ 17 January 2008
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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/ 16 January 2008
Standard Bank is making strides in trying to ensure that investing in the stock market is accessible to average South Africans by reducing its fees for 2008. This is the fourth fee reduction since January 2005. The bank reduced its brokerage rates from 0,7% to 0,6% per transaction, with a minimum fee of R70.
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/ 14 January 2008
The JSE was in the red at midday on Monday, taking its cue from lower overseas equity markets. By noon, the broader all-share index had shed 0,13% to 27 474,230 points. Industrials were down 0,56%, while banks lost 0,43% and financials were off 0,29%.
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.
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.
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.
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
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
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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/ 19 December 2007
Gauteng’s economy remained under pressure in November although strong performances were reported in several sectors. The Gauteng business barometer decreased by 2,7% to 142 index points, compared with November last year. However, it is 1% higher than the level of one month ago.
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/ 14 December 2007
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
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
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
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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/ 29 November 2007
Standard Bank’s position as one of the world’s leading emerging markets banks was endorsed on Wednesday night with the company winning eight awards, including the prestigious Emerging Markets Bank of the Year, at <i>The Banker</i> awards of 2007.
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/ 27 November 2007
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
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 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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/ 23 November 2007
Standard Bank expects as much as -million in incremental earnings by the third year of the deal in which China’s biggest lender ICBC will buy a 20% stake for ,6-billion, it said on Friday. Standard Bank said in a presentation on its website that the bank expects incremental earnings of -million to -million.
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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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/ 19 November 2007
Standard Bank will raise its transaction fees by an average of 4,65% in 2008, the bank said on Monday. Increasing competitive pressure, rising interest rates and inflation were some of the reasons for the increase, said the bank’s CEO for personal and business banking, Sim Tshabalala.
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/ 16 November 2007
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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/ 13 November 2007
After starting slightly higher on Tuesday, the JSE took a sharp turn as negative sentiment started to flow in from overseas markets. One trader explained that the JSE was weaker as there was continued concern about the supprime market globally.
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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.
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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.
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/ 6 November 2007
The JSE retained its strong tone at noon on Tuesday as investors continued to hunt for bargains after sharp losses in recent days, while rallying gold and platinum prices provided additional support. At 12.04pm, the all-share index was up 0,62% thanks to a 2,02% gain in the gold mining index.
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/ 2 November 2007
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
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 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.