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/ 30 May 2008

Three ATMs blown up in Gauteng

In a series of three ATM bombings in less than half a day in Gauteng, gangs of robbers on Friday morning made off with undisclosed sums of cash. In Strijdompark in Randburg, a Standard Bank ATM was blown up at the Motor City Centre, Gauteng police said. ATMs in Atteridgeville and Orange Farm were also targeted.

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/ 29 May 2008

JSE stays weak, banks slump

South African stocks remained modestly weaker at noon on Thursday, with banks weighing heavily on a deteriorating inflation outlook after worse-than-expected producer price inflation data and the South African Reserve Bank governor’s comments that the bank was considering a 200-basis-point interest-rate hike.

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/ 23 May 2008

JSE extends losses on profit taking

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%.

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/ 22 May 2008

JSE hits new record on resources

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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/ 21 May 2008

JSE stays weaker, but off lows

South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.

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/ 16 May 2008

Resources boost JSE to new high

South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.

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/ 12 May 2008

JSE little changed on lack of news

South African stocks pulled back from modest gains achieved in early deals to trade flat at noon on Monday, as traders struggled to find a clear-cut path. At midday, the JSE’s broader all-share index was neither here nor there (+0,06%) at 32 154,700. Resources were up 0,20%, while the gold- and platinum-mining indices added 0,53% and 0,22% respectively.

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/ 8 May 2008

JSE flat, resources the main feature

Resources stocks were the main feature of the JSE by midday on Thursday, with the overall market generally flat following an overnight decline on Wall Street. At 11.56am, the JSE’s broader all-share index was up 0,12%, helped by a 1,1% rise in resources, 0,89% advance in the gold mining index and a 0,39% rise in the platinum mining index.

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/ 8 May 2008

Confidence at five-and-a-half year low

South Africa’s economic confidence fell to a five-and-a-half year low in April, weighed down by expectations of slower growth, higher inflation and a longer cycle of tighter monetary policy, a poll showed on Thursday. The monthly survey of 20 economists showed the Reuters Econometer dived to 207,50 last month, its lowest since November 2002.

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/ 1 May 2008

Green mambas must strike

After two dismal seasons on and off the field, the appearance of Amazulu among the last four clubs remaining in the Nedbank Cup represents a fragile chance to reclaim a tarnished legacy. Last season the lads from the coastal kingdom finished second last on the log, but escaped relegation from the Premiership by winning play-offs against rivals from the lower first division.

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/ 30 April 2008

JSE weak in quiet trade, miners weigh

South African stocks were weaker at noon on Wednesday with miners under pressure on retreating metal prices, but the session was quiet as most traders are still away on a long weekend break. At noon, the JSE’s broader all-share index was down 0,46%, with the gold and platinum mining indices down 1,47% and 1,65% respectively.

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/ 24 April 2008

Reserve Bank warns on household debt, oil

The South African Reserve Bank warned on Thursday that high household debt was a potential source of vulnerability and the growth in non-performing loans must be closely monitored. Elevated and volatile oil prices could also impact on economic and financial stability through higher inflation, interest rates and on an already large current-account deficit, it said.

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/ 24 April 2008

JSE sharply down in midday trade

The JSE was sharply weaker at noon on Thursday, led by banks after worse-than-expected factory-gate price inflation data pretty much sealed the case for another interest-rate hike in June, traders said. By 11.54am the JSE’s broader all-share index was down 0,96%, weighed by a 1,99% drop in banks.

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/ 23 April 2008

JSE up, but sluggish at midday

The JSE remained in the black at midday on Wednesday thanks to firm resources stocks, but banks and financials were under a bit of pressure. By 11.54am the JSE’s broader all-share index was up 0,34%. Resources added 1,01%, but the platinum-mining index, after having being stronger earlier, was now off 0,52% and the gold-mining index was down 1,14%.

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/ 22 April 2008

JSE flat on lack of direction

South African stocks were little changed at noon on Tuesday in a thin-volume session, as some traders remained on the sidelines ahead of Wall Street opening. At midday the all-share index was neither here nor there (-0,06%) at 31 754,380. Resources were up 0,50% but the gold- and platinum-mining indices were down 0,16% and 1,63% respectively.

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/ 21 April 2008

JSE remains firm on world markets

South African stocks hung on to earlier gains at noon on Monday, supported by firmer overseas markets, but the stronger rand and faltering gold prices restricted gains, traders said. By midday on Monday, the JSE’s broader all-share index was 0,77% in the black. Resources were up 1,21%, the platinum-mining index advanced 0,34% but the gold-mining index fell 0,70%.

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/ 4 April 2008

FirstRand says it is not in talks with Chinese bank

South African banking group FirstRand on Friday said it was not in talks with a Chinese bank over selling a stake. ”We are not in discussions with a Chinese bank,” FirstRand spokesperson Sam Moss said. Shares in FirstRand rose earlier on Friday after the China Daily reported that a state-owned Chinese bank was in talks to buy a stake in First National Bank.

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/ 4 April 2008

Anglo, BHP Billiton prop up JSE

Resource heavyweights Anglo American and BHP Billiton — which make up a substantial portion of the JSE — helped the bourse extend its gains by midday on Friday, traders said. By noon, the JSE’s broader all-share index had lifted 1,21%. Resources collected 1,83%, and the platinum mining index was up 0,8%, but the gold mining index decreased 1,34%.

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/ 1 April 2008

‘Very, very boring day on the JSE’

The JSE was looking lifeless at midday on Tuesday, as there was no real driver to push the market in either direction, traders said. By 11.59am, the JSE’s broader all-share index had shed 0,1%. The gold mining index dropped 3,14%, resources fell 1,48% and the platinum mining index declined 0,55%.

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/ 28 March 2008

BHP Billiton to phase out Standard Bank business

Mining group BHP Billiton will phase out annual business with Standard Bank in the first corporate spat brought on by the power crisis. Business Day reported that the business may be worth R2,4-billion and the decision came after a bank executive suggested that one of the mining group’s aluminium smelters be shut down to save electricity.

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/ 28 March 2008

JSE edges up as platinum recovers

A recovery in the platinum price triggered improvements in the platinum-mining and resources indices, which helped reverse the JSE’s morning losses and lift it into the black by midday on Friday. By 12.03pm, the JSE’s broader all-share index was up 0,35%. The platinum-mining index collected 1,57% and resources gained 1%.

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/ 27 March 2008

February PPI ‘a shock to the system’

South Africa’s producer price inflation (PPI) accelerated above forecasts to 11,2% year-on-year in February from 10,4% in January, official data showed on Thursday.
Statistics South Africa said the headline number, representing domestic output, stood at 1,3% on a monthly basis, compared with 1% previously. Economists polled last week forecast that annual PPI would come in at 10,7%, while the monthly rate of increase was seen at 0,8%.