Gains across the board were led by gold mining shares, helping to lift the JSE All Share by 0.71% at midday on Monday. The rand was trading steady at R9.92 to the US dollar, as investors relaxed their worries about the removal of US stimulus. Brent crude oil slid 0.29% to sell at $102.52 a barrel, after concern that demand in China may decline after news that local manufacturing grew the least in four months. International markets On Friday the Dow Jones fell 0.76% and the S&P 500 lost 0.43%, but the Nasdaq gained 0.81%. Investors were more positive however after the US Federal Reserve eased concerns over the timing of the removal of its stimulus programme. In Japan, the Nikkei rose 1.28% at its close this morning after the yen weakened. The Shanghai index gained 0.81%, despite news that economic growth in China has remained below 8% for the past year, for the first time in about 20 years. The DAX had fallen 0.47% by noon and the CAC40 had lost 0.12%, but the FTSE 100 had managed to rise 0.62% after news that euro-area manufacturing declined by less than expected in June. Share price news Amongst the top movers upwards at midday was Pan African Resource (PAN) in the gold mining sector, who shares rose 4.71% after 1,169,120 shares were traded in 53 deals to sell at R2 a share. The company announced this morning that they would commence production at Barberton Tailings Retreatment Project. Clicks Group (CLS) climbed to R75.17 a share after 294 deals exchanged 308,569 shares, boosting the share price by 3.05%. Grand Parade Investments (GPL) fell 2.78% to R3.50 after investors sold 287,419 shares in 31 deals. After 101 deals totalling 107,008 shares, Acucap Properties (ACP) slipped 2.72% to R46.50 a share at 12:00.
Posted on: Mon, 01 Jul 2013 10:16:40 +0000
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