BHP costs soar, output up

BHP Billiton has unveiled further cost blowouts and delays at major projects, highlighting the pressures affecting miners around the world.

But the global miner also posted healthy production figures that reassured analysts BHP will report a record first half profit above US$6bn early next month.

Read Full article at FIN24.co.za

Rand softer versus dollar ahead of PPI

South Africa's rand opened weaker against the dollar on Thursday and market players said the currency would take further direction from official producer inflation data due out later in the morning.
The rand was trading at 7.1525 versus the dollar at 0705 GMT, three cents weaker than its New York close of 7.1250 on Wednesday.

Read Full Article at Reuters South Africa

Gold struggles to keep gains, off 7-week high

Gold gyrated in a tight range on Thursday, showing signs of fatigue after rising to its highest in more than seven weeks the previous day due to firmer crude oil.

Gold met selling pressure from investors in Asia, including those in China, after it failed to crack stubborn resistance at$650 an ounce. Other precious metals firmed but silver dropped after touching its highest since mid-December at $13.26.

Read Full article at Reuters South Africa

China's economy soars 10.7%

China's economy has expanded by 10.7% in 2006, its fastest rate in more than a decade, despite a raft of government curbs to keep the pace of growth in check.

The world's fourth-largest economy has now grown at double-digit rates for four years in a row.
At that pace, China's output could leapfrog Germany's and catapult it into third place in the global rankings as soon as 2008, when it will showcase its meteoric rise by hosting the Olympic Games. It overtook Britain in 2005.

Read the full article at FIN24.co.za

JSE rourse to new High

The all share index was up 1.13% at 25,386.79 after reaching an all-time high of 25,438.49.Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively.Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.The rand was bid at 7.13 per dollar from 7.10 when the JSE closed on Tuesday, while gold was quoted at US642.80 a troy ounce from $639.85/oz at the JSE's last close.

Other Stats

Rand-Sterling 14.0941 0.18%
Rand-Dollar 7.1690 0.82%
Rand-Euro 9.2953 0.49%

Gold 641.25 -0.68%
Platinum 1163.00 -0.77%
Brent Oil 53.95 -2.09%

Current Trades

None but kicking myself for not buying SOL as a Call Warrant.

Watch List
1)JSE CODE:NHM 5040 -0.20 %
SECTOR: Platinum & Precious Metals
Comment: If it drops below 4500 I will trade it. But now its to expensive

2)JSE CODE:SOL 24199 4.31 %

SECTOR: Integrated Oil & Gas
Comment: I missed the train completely with this one being a star performer today. But the oil sector is volatile so there may still be opportunity

Tomorrow
I guess a small pull back will be in order.

Where the managers are investing

Where are South Africa's top fund managers investing? And what are they saying about commodities, the rand, the local property market and the country's prospects in general? Five top fund managers detail their investment strategy.

Read Full article at mymoney.iafrica.com

What you should not invest in...

Avoid SA bonds and property, and prepare for only modest returns from local equity markets.
That's according to Walter Aylett, who manages the Nedbank Bravata Worldwide Flexible Fund on behalf of Nedgroup Investments. If you are going to invest in SA equities, "Stockpicking will be key," he says.

Read Full article on mymoney.iafrica.com

Resources fuel JSE's record run

The JSE remained rampant in noon trade on Wednesday, having roared to a record high on the back of higher commodity prices and positive world markets.

By 12:11, the all share index was up 1.13% at 25 386.79 after reaching an all-time high of 25 438.49. Resources rallied 2.3%, with the gold and platinum mining indices jumping 2.06% and 2.15% respectively. Industrials climbed 0.4% and financials firmed 0.31%, but the banks index was 0.31% in the red.

Read the Full article on FIN24.co.za

Inflation steady at 5%

The increase in South Africa's consumer price index excluding mortgage rate changes (CPIX) for metro and other areas, which is used by the South African Reserve Bank (SARB) for its inflation target, was up 5.0% year-on-year (y/y) in December, unchanged from November, Statistics South Africa (Stats SA) said on Wednesday.

Read Full Article at FIN24.co.za

Gold near 7-week high

Gold paused for breath on Wednesday after rising 2%in New York, but dealers said the next resistance of $650 may be tough to crack without further weakness in the dollar or more gains in oil.
Silver rose to its highest level in more than a month, while platinum and palladium jumped as a weak dollar encouraged buying by speculators.

Read Full Article at FIN24.co.za

Rand slips, eyes inflation data

South Africa's rand was trading weaker against the dollar on Wednesday but keeping within a tight range ahead of domestic consumer inflation data later in the session.
The rand stood at R7.1350/US$ at 08:50, 0.4% weaker than the New York close of R7.1050/$ on Tuesday.

Read Full article at FIN24.co.za

'Don't bet on Feb rate move'

Standard Bank chief economist, Goolam Ballim, says he does not expect more rate hikes in the current interest rate cycle, with even some scope for easing later this year.

Read Full article at FIN24.co.za

JSE sets new record

The JSE has roared to another record high, fuelled by higher commodities prices and positive world markets.

Read Full article at FIN24.co.za