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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.
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/ 26 October 2007
China has served notice it is accelerating its investment drive in Africa towards full throttle with the planned ,6-billion cash purchase of a major stake in Standard Bank by Beijing’s biggest lender. China’s ICBC bank said on Thursday it is to buy 20% of Standard Bank, the biggest foreign acquisition by a Chinese commercial bank to date.
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/ 25 October 2007
China’s biggest lender ICBC is to buy 20% of South Africa’s Standard Bank for R36,67-billion (,6-billion) in cash, in the biggest foreign investment yet in Africa. The move announced on Thursday comes as Beijing encourages major state firms to expand abroad, particularly in developing countries.
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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
"I have never invested on the stock market, but would like to do it now and I am very interested in Satrix. Do you think it would be worthwhile to invest a lump sum of R2 000 now and later a lump sum of R1 000, whenever I can afford it, say every three months?" We answer your investment questions.