The JSE All Share had fallen 0.24% by midday on Wednesday, with gains in gold mining shares offset by losses in resources and financials. The rand was trading at R10.22 to the US dollar, continuing to weaken slightly ahead of the release of minutes from the US Federal Reserve meeting in July which will indicate when the easing of its asset-purchasing programme will begin. Gold fell 0.56% to sell at $1363.40 an ounce, as investors held off buying before stimulus news from the US. International markets Although the Dow Jones edged down 0.05% yesterday, the S&P 500 gained 0.38% and the Nasdaq rose 0.68% after positive corporate earnings results from the retail sector boosted investor confidence. In Japan, the Nikkei closed 0.21% higher this morning, while China’s Shanghai index edged up 0.02% after gains in energy and tech companies. Investors traded cautiously as they awaited US Federal Reserve news on the removal of stimulus measures, due later today. Likewise, European markets were also subdued for the moment, with the DAX down 0.34%, the CAC40 losing 0.17% and the FTSE 100 lower by 0.74% at midday SA time. Share price news Amongst the top movers upwards at noon was Sibanye Gold (SGL), whose shares rose 3.93% to R10.32 after the company announced the acquisition of Gold One International Limited’s West Rand operations this morning. Investors proceeded to trade 679,460 shares in 332 deals. Also in the gold mining sector, Anglogold Ashanti (ANG) rose 2.44% to sell at R148.03 after 2,341 deals exchanged 803,216 shares. The company published news of its decision to temporarily relax the financial covenant on both of its revolving credit facilities. Moving downwards was Grand Parade Investments (GPL), whose shares lost 2.63% after investors sold 295,400 shares in 39 deals, leaving the share price down at R3.70. After 777,457 shares were exchanged in 134 deals, Capital Property Fund (CPL) slid 2.92% to R9.31
Posted on: Wed, 21 Aug 2013 10:16:57 +0000
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