Furniture retailer JD Group tumbled nearly 5% on Monday after an investigative TV programme highlighted credit practices at the company’s stores such as Russells on Sunday. At 1.46pm, JD Group’s shares were down 4,43%, or R3,90, to R84,10, while the JSE’s home-improvement index was up 0,23% on the day.
The JSE was higher at midday on Friday, supported by solid gains for resource stocks after metals prices staged a slight recovery, while stronger European markets provided additional support. At 12pm the all-share index was up 1,02%, thanks to a 1,39% rise in resources.
The JSE was virtually unchanged at noon on Thursday as investors juggled a sharp retreat in commodity prices and the Dow Jones Industrial Average’s record-breaking performance overnight. At noon, the all-share index was up just 0,07%. Resources gained 0,21%, the platinum mining index edged up 0,15% but the gold mining index gave up 0,08%.
South African-based media group Naspers will terminate its listing on the Nasdaq Global Market and apply for secondary listing on the London Stock Exchange. Naspers said the decision to delist driven by high costs of maintaining the listing and complying with US obligations, especially the provisions of the Sarbanes-Oxley Act of 2002.
South Africa is on the right track in its efforts to set up a profitable biofuels industry, said Ernst Janosky, head of agriculture at First National Bank, on Tuesday. Speaking on the sidelines of the 41st annual Nampo harvest week, Janosky said that for a biofuels industry to be profitable, local fuel prices need to be above R10 a litre.
The JSE retained its firmer tone at noon on Monday, supported by solid buying of platinum stocks, while media reports that BHP Billiton could be stripped and sold boosted the resource heavyweight. At 12pm, the all-share index was up 0,33% thanks to a 2,22% gain in the platinum-mining index.
Stocks on the JSE were firm at midday on Wednesday led by BHP Billiton following talks that it may bid for Rio Tinto while strong first half earnings boosted retailer New Clicks. At noon, the all-share index was up 0,73%, pushed higher by a 1,19% gain in resources.
The JSE remained firm at midday on Friday buoyed by gains in resource stocks while most players stayed on the sidelines ahead of the United States jobs data. At 12pm, the all-share index was up 1,04% thanks to a 2,29% solid gain in resources. The platinum-mining index was up 1,45% but the gold-mining index lost 0,22%.
The JSE turned red at noon on Thursday on the back of a stronger rand but Sasol climbed after announcing it will hedge 30% of its synfuels production. At noon the all-share index was off 0,47%. Resources lost 0,21%, the gold mining index fell 1,07% but the platinum mining index added 0,24%.
The JSE retained its strong tone at midday on Wednesday, boosted by firmer performances on overseas markets while Kumba Iron Ore soared following the upgrade of its target price by Merrill Lynch. At 12.01pm, the all-share index was up 0,50%. Resources gained 0,77%, the platinum-mining index climbed 2,11%, but the gold-mining index gave up 0,37%.
The JSE extended gains at midday on Monday helped by the solid buying for resources heavyweights after the rand weakened — but trade was sluggish as most players were still on leave. South African markets will be closed on Tuesday May 1 for Workers’ Day.
The JSE remained higher at noon on Thursday on the back of Dow’s record moves overnight, but off its opening highs after producer price inflation (PPI) figures came in above forecast. At noon, the all-share index was up 0,21%. Resources gained 0,17% and the gold and platinum mining indices added 1,11% and 0,29% respectively.
The JSE was higher at noon trade on Wednesday as investors piled back in following solid gains in European markets while a recovery in copper prices underpinned gains in resources heavyweights. At noon, the all-share index was up 0,65%. Resources also gained 0,55% while gold- and platinum-mining indices gave up 0,16% and 0,23% respectively.
The JSE was lower at noon trade on Tuesday following a weaker tone on European markets while other players took profits after the market’s strong moves in recent days. At noon, the all-share index was down 0,71%. Resources fell 0,81% while gold- and platinum-mining indices gave up 0,92% and 1,87% respectively.
The JSE remained flat in a directionless session at noon on Monday, failing to get the most out of the strong moves in the Dow Jones industrial index on Friday. At noon, the all share index was flat (+0,02%). Resources were down slightly by 0,02%, but the gold and platinum mining indices gained 0,93% and 0,51% respectively.
The JSE extended gains at noon trade on Friday, led by platinum miners on news that Switzerland will launch exchange-traded fund (ETF) next month. Hopes that Beijing will apply calculated measures to cool China’s overheating economy added to the broad-based buying on the local bourse, dealers said.
The JSE retained its weaker tone at noon trade on Thursday on profit-taking while resources were hit by fears that Beijing might raise interest rates. At 12pm the all-share index was off 0,45%. Resources fell 0,65% and the gold- and platinum-mining indices gave up 0,50% and 0,05% respectively. Industrials were down 0,32%, financials eased 0,30% and banks shed 0,45%.
The JSE remained lower at midday on Wednesday, tracing the weaker tone in overseas markets while groceries retailer Shoprite soared on speculation that its investors might demand a higher price from its buyers. Also, talk in the market that the MTN Group was a prime target for a private equity takeover sent the mobile telecommunications giant to a fresh trading high.
The JSE was flat in noon trade on Tuesday with light selling ahead of United States inflation data due in the afternoon, while European Union markets took a dip in early trade. By noon, the all-share index was flat (-0,04%). Resources fell 0,38%. The platinum and gold mining indices dipped 0,57% and 1,16% respectively.
The JSE retained its strong tone in noon trade on Monday as Edcon’s deal went through smoothly and Johncom put on a great show on speculative buying. By noon, the all-share index was up 0,69% and resources added 0,67%. The platinum and gold mining indices firmed 1,55% and 0,62% respectively.
Information and communication technology group IBM South Africa has clinched a six-year, multimillion-rand contract for IT services from South African Breweries (SAB), it said on Friday. The value of the deal has not been disclosed. SAB is a unit of London-listed brewing giant SABMiller.
The JSE advanced in noon trade on Friday in a quiet session, but blue-chip retail group Edcon fell sharply on concerns that a takeover bid by Bain Capital might fall through. At noon, the all-share index was up 0,42%. Resources gained 0,33%, while the platinum and gold mining indices added 1,12% and 1,20% respectively.
The JSE ticked higher during noon trade on Thursday, but the gains were capped by a weaker tone in resources and mining stocks. At noon, the all-share index was up 0,18%. Resources fell 0,23%, the gold mining index was off 0,58% but the platinum mining index added 0,57%.
The JSE remained higher at midday on Tuesday as investors hurried to catch up with the United States equities market, which stayed open on Monday. At noon, the all-share index was up 0,61% thanks to the 1,10% rise in resources. The platinum mining index jumped 2,13% but the gold mining index fell 0,14%.
The JSE retained its strong tone at midday on Tuesday as European markets put on a great show and better metal prices provided buying incentive for heavyweight resources stocks. At noon, the all share index was up 0,79%. Resources gained 0,99% while the gold and platinum mining indices firmed 1,91% and 1,42%.
The JSE gained momentum at midday on Monday led by paper maker Sappi and pockets of buying in heavyweight gold stocks. At 12pm, the all-share index was up 0,45%. Resources gained 0,10%, the gold- and platinum-mining indices firmed 1,13% and 0,89% respectively. Industrials gained 0,56% and banks and financials were up 1,23% and 0,95% respectively.
The JSE was marginally firmer at midday on Friday in the absence of major market-moving news to move the market, but precious metal stocks gained on a spike in metal prices. At 12 noon, the all-share index was up 0,15%. Resources were off 0,29%; the gold and platinum mining indices firmed 1,06% and 1,65% respectively.
The JSE remained firmer at noon on Thursday, tracking overseas markets and firm Dow futures indicating a strong opening on the United States equities market. At 12pm, the all-share index was off 0,70%. Resources were 0,80% better; the gold- and platinum-mining indices added 0,27% and 1,10% respectively.
The JSE retained its softer tone at midday on Wednesday in line with weaker Asian and United States markets on growing concerns over the US economy. At 11.53am, the all share index was off 0,36%. Resources were 0,14% softer, the platinum mining index was flat (-0,05%) while the gold mining index added 0,59%.
The JSE remained higher shortly before noon on Tuesday buoyed by a turnaround on the United States equities market overnight and buying appetite for resources stocks. By 11.53am, the all-share index was up 0,54% thanks to a 1,09% rise in resources. The gold-mining index was up 0,37% while the platinum-mining index fell 0,46%.
The JSE was higher at midday on Monday on the back of cheerful sentiment on Asian markets in the absence of market-moving news on the local front. By 11.57am, the all-share index was up 0,37% at 27 013,630 thanks to a 0,86% rise in resources. The platinum-mining index was up 0,36%, while the gold-mining index was flat (-0,04%).
House price growth is expected to resume its slowing trend this year due to slower economic growth and the lagged impact of last year’s interest rate hikes, a property strategist said on Monday. John Loos, property strategist at FNB commercial banking, said that a more sustained strengthening was only anticipated from 2008 on.