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/ 26 March 2008

Mining counters give JSE momentum

Mining counters gave the JSE some extra momentum on Wednesday, pushing the bourse more than a percent higher by midday. At noon, the JSE’s broader all-share index was 1,29% in the black, driven by a 5,45% rally in the platinum-mining index. Resources advanced 2,47% and the gold-mining index rose 1,07%.

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/ 19 March 2008

Standard Bank ‘delighted’ with awards

Standard Bank has been selected as the best emerging-market bank in Africa, as well as in South Africa, in the annual <i>Global Finance</i> magazine’s <i>Best Emerging Market Banks in Africa</i> survey. In addition, Standard Bank Namibia and Stanbic Bank Uganda won top honours in their respective countries.

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/ 18 March 2008

JSE remains down, investors eye Fed

The JSE was little changed at its softer levels by midday on Tuesday as investors took to the sidelines ahead of the United States Federal Open Market Committee’s rates decision later in the day. By noon, the JSE’s broader all-share index was down 0,86%. Resources fell 2,26%, the gold mining index dropped 1,76% and the platinum mining index shed 0,76%.

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/ 14 March 2008

Resources buoy JSE

The resources index kept the JSE in firmer territory by midday on Friday, enhancing the morning session’s gains. At noon, the JSE’s broader all-share index was up 1%, driven by the 1,75% advance in the resources index. The gold mining index recovered 0,06% but the platinum mining index gave up 0,23%.

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/ 11 March 2008

JSE slightly weaker on miners

South African stocks were slightly lower at noon on Tuesday, pressured by miners on faltering metal prices, but improved sentiment in overseas markets restricted losses, traders said. At noon, the JSE’s broader all-share index had given up 0,19% at 30&nbsp;056,80.

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/ 11 March 2008

Trimming the cost of home loans

About 60% to 70% of the South African home finance market is now facilitated by originators, who have managed to secure interest rate concessions of 1% to 2,5% for their clients. They handle the shopping around for you, as well as the administration and insurance.

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/ 7 March 2008

Overseas markets, banks dampen JSE

International credit woes causing losses among overseas equity markets continued to dampen the JSE by midday on Friday. The JSE’s broader all share index had shed 0,45% by noon, which was led by a 2,5% decline in the bank index. Financials were down 1,86% and industrials gave up 0,57%.

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/ 6 March 2008

Resource stocks send JSE north

Firm resource stocks helped the JSE extend its gains by midday on Thursday, even though bank and financial counters were softer. By noon, the JSE’s broader all-share index lifted 1,17%, led by a 1,94% advance in resources. The gold mining index recovered 0,98% while the platinum mining index edged up 0,04%.

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/ 5 March 2008

Profit-taking continues to weigh on JSE

The JSE widened its losses by midday on Wednesday as profit-taking and negative sentiment continued to dampen the market. By noon, the JSE’s broader all-share index declined 1,4%, led by a 2,72% pull back in the platinum-mining index. The gold-mining index retreated 2,71% and resources dipped 1,85%.

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/ 3 March 2008

Standard Bank has $2bn boost as ICBC deal closes

Standard Bank has received a R16-billion boost to its capital base after completion of a deal in which China’s biggest lender ICBC took a 20% stake, it said on Monday. International and Commercial Bank of China, the world’s biggest lender by assets, said in October last year it would pay ,5-billion for the stake in Standard Bank.

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/ 3 March 2008

JSE softer, but weak rand lifts miners

A weaker rand and higher commodity prices boosted mining stocks on the JSE by midday on Monday, but negative global sentiment still weighed on the bourse. By midday, the JSE’s broader all-share index was off 0,76%, dragged lower by a 4,42% dip in the bank index. Financials gave up 2,63% while industrials pulled back 1,07%.

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/ 27 February 2008

‘Shocker’ CPIX quickens to 8,8%

South Africa’s targeted CPIX inflation rate quickened to 8,8% year-on-year in January from 8,6% in December, above forecasts, data showed on Wednesday. The all-items consumer price index (CPI) increased by an annual rate of 9,3%, compared to 9% in December, Statistics South Africa said.

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/ 25 February 2008

Positive world markets buoy JSE

Firmer world markets helped keep the JSE in the black by midday on Monday, offsetting losses in the gold-mining index that were sparked by negative news from Gold Fields. Gold Fields’s share price weakened R2,81, or 2,43%, to R112,75 after it earlier reported that the current electricity crisis puts 6&nbsp;900 Gold Fields jobs at risk.

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/ 22 February 2008

JSE remains down on profit-taking

Profit-taking helped the JSE catch its breath on Friday after its good rally on Thursday, which led the bourse to dip 0,82% by midday. The platinum-mining index gave up 2,09%, resources lost 1,11% and the gold-mining index eased 0,09%. Industrials weakened 0,69%, financials shed 0,17% and banks picked up 0,15%.

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/ 20 February 2008

JSE recovers off earlier lows

The JSE recovered some of its earlier losses by midday on Wednesday, as gold and resource stocks started to lift the market despite the negative global sentiment. Higher oil prices overnight spurred inflation worries among world markets, after oil closed above $100, prompting a global sell off in equities.

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/ 19 February 2008

Banks, resources keep JSE firm

The bank and resources indices kept the JSE in positive territory on Tuesday, lifting the bourse 0,7% higher by midday. Banks advanced 2,14% and financials collected 1,14%. The gold mining index added 1,46%, resources lifted 1,11% and the platinum mining index was up 0,58%. However, industrials were down 0,12%.

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/ 18 February 2008

JSE stays firmer led by banks

South African stocks were sharply higher at midday on Monday led by banks ahead of Absa’s year-end earnings, while stronger overseas markets and firm metal prices spurred broad-based gains, traders said. By noon, the broader all-share index had gained 1,27% to 28&nbsp;867,61, lifted mainly by a 2,36% gain in banks.

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/ 14 February 2008

World markets, metals support JSE

Firm world markets and stronger metal prices continued to support the JSE by noon on Thursday. At noon, the broader all-share index had risen 1,34%. Banks collected 2,33% and financials climbed 1,07%. Industrials advanced 1,44%, the platinum mining index gained 1,4%. Resources were 1,35% higher and the gold mining index added 1,16%.

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/ 13 February 2008

JSE slightly lower on miners

South African stocks were slightly lower at midday on Wednesday as heavily weighted miners continue to falter on falling metal prices, while other investors refrained from making any large moves ahead of Wall Street opening. At midday, the broader all-share index had was off 0,18% at 28&nbsp;533,810.

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/ 11 February 2008

‘Tired’ JSE led down by weak world markets

A tired-looking JSE was 89 points in the red by noon on Monday as weak global markets continued to weigh. By midday, the broader all-share index had shed 0,32%. The gold-mining index pulled back 1,42%, resources added 0,05% and the platinum-mining index was up 0,97%. Industrials fell 0,77%, financials were down 0,29% and banks gave up 0,29%.

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/ 5 February 2008

JSE down on profit-taking, world markets

The JSE changed course to turn negative by midday on Tuesday as weaker world markets and a bit of local profit -taking set in. By noon, the broader all-share index had given up 0,99%. Banks pulled back 2,39% and financials retreated 1,87%. Industrials lost 1,08% and the gold-mining index dipped 0,95%.

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/ 31 January 2008

JSE firm, weaker rand drives miners

A weaker rand drove mining shares higher on the JSE by midday on Thursday, lifting the bourse 0,88% into the black. By noon, the platinum-mining index was 2,74% higher, while the gold-mining index advanced 2,36% and resources were up 2,04%. Industrials edged up 0,16%, but financials and banks were off 0,66% and 1,24% respectively.

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/ 29 January 2008

Platinum shares boost JSE

Positive sentiment flowing through from world markets and a boost from the platinum mining sector helped support the JSE on Tuesday. Speculation that mines could return to production after operations had been halted the last few days because of power supply concerns, underpinned the rally in the mining and resources sector.

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/ 28 January 2008

JSE weak on world markets, local woes

A pull back in global equity markets as well as local concerns about power-supply shortages continued to keep the JSE at weak levels by midday on Monday. By noon, the JSE’s broader all-share index was down 2,79%. Banks pulled back 3,89% and financials were off 2,55%. The platinum-mining index gave up 3,65% and the gold-mining index weakened 1,11%.