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/ 25 October 2007
South African bank shares leapt on Thursday after reports that China’s biggest bank, Industrial and Commercial Bank of China, has agreed to buy a 20% stake in Standard Bank, in a deal reported to be worth ,5-billion. Trading in Standard Bank shares was halted ahead of the release of a statement by the bank on the outcome of negotiations.
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/ 25 October 2007
The JSE remained firm at midday on Thursday as activity in the banking sector continued to dominate the market. At noon, the all-share index was up 0,97%, led by a 3,34% climb in the platinum mining index. The gold mining index gained 1,34% and resources rose 0,69%.
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/ 24 October 2007
The JSE remained in negative territory at midday on Wednesday, as banks took a dip on the release of discouraging CPI data and resources were lower on a firmer rand. At 11.59am, the all-share index was 0,25% lower, as resources dipped 0,35%. However, the gold and platinum mining indices advanced 0,28% and 0,35% respectively.
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/ 24 October 2007
Africa’s biggest banking group by assets, Standard Bank, said on Tuesday it was in talks which if successfully concluded might affect its shares, sending the company’s stock higher. Standard Bank said in a statement that it expected to make an announcement soon.
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/ 23 October 2007
The Gauteng economy is slowing down as several industries experience a drop in business-activity levels, said the Gauteng Business Barometer (GBB). Spokesperson Mike Schüssler said the GBB for September dipped by 7% to 140 index points when compared with the same month last year.
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/ 23 October 2007
The JSE remained firm at noon on Tuesday, spurred by Wall Street’s overnight rebound and firmer European markets as risk aversion eased. Miners lifted the main index, buoyed by a recovery in commodities prices as metals investors chased after bargains following Monday’s sharp losses, while a slight weakness in the dollar added to the upbeat mood in the metals complex.
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/ 22 October 2007
The JSE retained its weak tone at noon on Monday, in line with overseas markets amid renewed concerns about the health of the United States economy. At 11.56am, the all-share index was off 1,51%. Resources fell 2,48%, while the gold-mining and platinum-mining indices gave up 1% and 3,47% respectively.
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/ 17 October 2007
An elderly Durban couple is in a critical condition in hospital after being drugged and robbed on Wednesday by men claiming to be traditional healers. Police said the man and woman were with their son at the time. The family had entered a Standard Bank branch in Amanzimtoti and withdrawn a large sum of money.
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/ 17 October 2007
The JSE was over 200 points in the red by midday on Wednesday, as the United States consumer slowdown continued to weigh on Wall Street and the weakness spilled over onto global markets. However, some indices posted gains, even though the broader all-share index was down.
The JSE remained firm by midday on Monday but according to traders was drifting, lacking direction from world markets. By noon, the all-share index had edged up 0,16%, as industrials increased 0,84%. Banks advanced 0,67% and financials were 0,54% firmer.
The JSE was slightly negative by midday on Friday, as profit-taking among platinum stocks led the bourse to give up some of its earlier gains. By noon on the JSE, the all-share index had given up 0,06%, as platinum stocks dipped 3,23%. Resources were 0,24% lower, but the gold-mining index advanced 1,67%.
The JSE was up sharply by midday on Tuesday, adopting the strength in overseas markets that were driven higher by a powerful performance on Wall Street overnight. By 12.03pm on the JSE, the all-share index had collected 1,01%. Financials advanced 2,02% and banks collected 2,86%, while industrials added 1,06%.
The JSE was up 191 points at midday on Monday, but off its record high it hit earlier as gold stocks tumbled on news that Anglo American was selling half of its stake in AngloGold. Anglo said in a statement that it expects the offering to represent a major step in the completion of its stated objectives for its stake in AngloGold Ashanti.
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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.
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/ 27 September 2007
The construction cranes towering and the cacophony of concrete churning and trucks rumbling are the sights and sounds of a business boom in South Africa’s most famous township. Black South Africans are reaping the benefits of a growing economy, and at the heart of it all is Soweto, the huge township south-west of Johannesburg.
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/ 20 September 2007
The JSE was flat at midday on Thursday, as players sat on the sidelines awaiting the result of the futures close-out, which was due to start at midday. By 11.59am, the all-share index edged up 0,26%. The gold mining index climbed 2,19% and banks were 1,09% higher. Resources perked up 0,28% and the platinum mining index rose 0,68%.
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/ 13 September 2007
The JSE drifted sideways during the course of the morning on Thursday in directionless trade as it waited to see how Wall Street opened. At 11.59am, the all-share index added 0,18%, with resources up 0,59%, the platinum mining index flat (+0,03%) and the gold-mining index little changed (-0,04%).
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/ 10 September 2007
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/ 10 September 2007
Travellers’ cheques could be your cheapest option when going overseas, especially in the United States, but are not always the most convenient currency choice. Thanks to the National Credit Act, banks are now required to disclose the full fees charged on a transaction, which highlights the cost of credit card transactions.
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/ 10 September 2007
The JSE continued to hold on to its earlier gains by noon on Monday as miners gained speed after a rally in the gold and platinum price. Shortly before midday, the rand was bid at 7,19 to the United States dollar from 7,25 when the JSE closed on Friday, while gold was quoted at $703,75 a troy ounce from $703 at the JSE’s last close.
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/ 6 September 2007
The JSE all-share index held onto its gains at midday on Tuesday, with the resource index shining brightly — underpinned by good buying interest in resource stocks Anglo American and BHP Billiton. By noon, the all-share index rose 0,50%. Resources advanced 1,25% and the gold mining index edged up 0,38%.
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/ 5 September 2007
The JSE was in the red at midday on Wednesday after vacillating between positive and negative territory during early trade as investors took profits on stocks that have recovered from last month’s losses. The JSE’s all-share started in the red, but inched into positive territory within the first 15 minutes of trade, and by midday it had fallen back into the red.
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/ 4 September 2007
The JSE was a bit firmer by midday on Tuesday as a number of local deals buoyed sentiment for buyers. The local bourse was also getting positive direction from the FTSE, which was down in early trade, but recovered during the morning. By midday on the JSE, the all-share index was up 0,30%.
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.
After ending 1,5% higher on Monday, the JSE was back in the red on Tuesday morning following a decline in the Dow overnight. However, the local bourse was being cushioned somewhat by the softer rand and good interest in direct miners. By 12.11pm, the all-share index was off 0,15%.