The JSE raced to a record close on Monday buoyed by stronger metal prices, Asian markets and news that a large portion of a market heavyweight - AngloGold Ashanti - might be bought by Russia's Polyus.
However, the value and the volumes of trades were soft as the US markets were closed for a public holiday.
The all share index closed at its highest ever up 0.42% at 26 623.230.
The all share index touched a trading high of 26,721.590 earlier during the day.
Read more at FIN24.co.za
Monday, February 19, 2007
Windfall tax details expected
Less than a year after appointing a team to investigate the potential for windfall taxes on South Africa's liquid fuel industry, Finance Minister Trevor Manuel is expected to announce details on the issue.
In his mini-budget speech last October, Finance Minister Trevor Manuel said he had received a comprehensive report from the team and that he would address the issue at the next full Budget
Read more at FIN24.co.za
In his mini-budget speech last October, Finance Minister Trevor Manuel said he had received a comprehensive report from the team and that he would address the issue at the next full Budget
Read more at FIN24.co.za
FTSE at 6-year high, boosted by miners, Sainsbury
Britain's FTSE 100 index rose to a six-year high by midday on Monday, led by mining stocks on a bullish outlook for copper, talk of a buyback from Anglo American and bid speculation around Sainsbury.
Anglo American surged 2.6 percent after the Financial Times reported the miner was expected to announce this week a further share buy-back plan that would return up to $4 billion to shareholders on the back of the boom in metal prices. JPMorgan lifted its price target for the stock.
Other miners were also buoyed by expectations that copper prices were set to rise as China replenished its stocks next week after the Chinese New Year holidays.
Lonmin climbed 2 percent, Kazakhmys gained 1.9 percent, BHP Billiton added 0.7 percent and Rio Tinto put on 1 percent.
Read more at Reuters South Africa
Anglo American surged 2.6 percent after the Financial Times reported the miner was expected to announce this week a further share buy-back plan that would return up to $4 billion to shareholders on the back of the boom in metal prices. JPMorgan lifted its price target for the stock.
Other miners were also buoyed by expectations that copper prices were set to rise as China replenished its stocks next week after the Chinese New Year holidays.
Lonmin climbed 2 percent, Kazakhmys gained 1.9 percent, BHP Billiton added 0.7 percent and Rio Tinto put on 1 percent.
Read more at Reuters South Africa
Gold probes 7-month high as dollar weakens
Gold surged to a seven-month high on Monday because of investor buying as the dollar weakened, and analysts expect the precious metal to push higher over coming days and weeks.
By 1130 GMT, spot gold was quoted at $670.90/$671.70 an ounce versus $669.00/669.70 an ounce late on Friday in New York. Earlier it hit an intraday peak of $673.20, the highest since July 17 2006 when it traded at a $676 high.
Read more at Reuters South Africa
By 1130 GMT, spot gold was quoted at $670.90/$671.70 an ounce versus $669.00/669.70 an ounce late on Friday in New York. Earlier it hit an intraday peak of $673.20, the highest since July 17 2006 when it traded at a $676 high.
Read more at Reuters South Africa
AngloGold Ashanti shares jump on Polyus report
Shares in the world's third biggest gold producer AngloGold Ashanti Ltd surged on Monday after a newspaper report that Russia's top gold miner Polyus Gold might buy a stake in Anglogold.
AngloGold shares jumped as much as 5.7 percent in early trade before paring gains to be up 3.97 percent at 352.99 rand by 0813 GMT.
Read more at Reuters South Africa
AngloGold shares jumped as much as 5.7 percent in early trade before paring gains to be up 3.97 percent at 352.99 rand by 0813 GMT.
Read more at Reuters South Africa
Oil dips, but Nigeria, refinery fires check fall
Oil futures slipped on Monday in modest profit taking from a surge late last week on jitters over Nigerian output, but losses were checked by refinery outages and signs that OPEC's supply cuts were helping drain stockpiles.
Front-month U.S. crude for March delivery was down 26 cents at $59.13 a barrel on the Globex electronic trading platform, after falling to as low as $58.87. London Brent crude was trading down 10 cents at $58.85 a barrel.
Read more at Reuters South Africa
Front-month U.S. crude for March delivery was down 26 cents at $59.13 a barrel on the Globex electronic trading platform, after falling to as low as $58.87. London Brent crude was trading down 10 cents at $58.85 a barrel.
Read more at Reuters South Africa
European shares open firmer, Daimler in focus
European shares opened firmer after strong performance in Japanese shares, and amid a slew of corporate news, while U.S. and several Asian markets are closed Monday.
The pan-European FTSEurofirst index of 300 leading shares rose 0.18 percent by 0802 GMT to 1,546.77 points.
London's FTSE 100 was up 0.3 percent, the French CAC 40 rose 2 percent and Germany's DAX gained 0.4 percent.
DaimlerChrysler shares rose 3.2 percent on news it was in talks with General Motors over the future of its ailing U.S. unit Chrysler.
Read more at Reuters South Africa
The pan-European FTSEurofirst index of 300 leading shares rose 0.18 percent by 0802 GMT to 1,546.77 points.
London's FTSE 100 was up 0.3 percent, the French CAC 40 rose 2 percent and Germany's DAX gained 0.4 percent.
DaimlerChrysler shares rose 3.2 percent on news it was in talks with General Motors over the future of its ailing U.S. unit Chrysler.
Read more at Reuters South Africa
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