The JSE opened lower on Monday, tracking generally weaker global stocks, which were wobbly on the back of high oil prices and the ongoing crisis in Libya.
|||The JSE opened lower on Monday, tracking generally weaker global stocks, which were wobbly on the back of high oil prices and the ongoing crisis in Libya.
By 09:19 local time, the JSE all share index was down 0.70%, with platinum miners sliding 1.32%, resources falling 0.90% and gold counters declining 0.38%. Banks were 0.69% lower, financials lost 0.45% and industrials shed 0.57%.
The rand was bid at 6.88 to the dollar, unchanged from the JSE's close on Friday. Gold was quoted at US$1,437.75 a troy ounce from US$1,426.72/oz at the JSE's previous close, while platinum was at $1,838.50/oz from $1,840.50/oz before.
"We are not surprised that the local market opened weaker as world equities are lower," a trader said.
The trader also said a number of companies, including ABSA (ASA) and British American Tobacco (BTI), went ex-dividend today.
Dow Jones Newswires reported that Asian stock markets were mixed on Monday as higher oil prices continued to hurt sentiment, while the resignation of Japan's foreign minister added to the gloom in Tokyo.
In China, the market rose on the back of supportive economic policies announced by policy makers.
"Overseas markets were pretty listless and in the negative on Friday. Commodities were a mixed bag, nothing much to turbo-charge our market on that score," said Michael Heffernan, senior client adviser at Austock in Sydney. "When you look at that and you've got Libya - what's developing into a civil war - there are not too many green lights flashing."
Japan's Nikkei Stock Average was off 1.8%, Australia's S&P/ASX 200 fell 1.3%, and South Korea's Kospi Composite lost 0.9%. Hong Kong's Hang Seng Index was 0.2% lower, Taiwan's main index fell 0.8%, and the Shanghai Composite index rose 1.4%.
Dow Jones Industrial Average futures were down 41 points in screen trade.
Intensified fighting in Libya over the weekend raised the chance that the country will descend into civil war, while signs of political unrest in other Middle East and north African nations, such as Saudi Arabia, Bahrain, Yemen, Oman and Algeria, sent oil prices higher, threatening economic growth across the globe.
On the JSE, Anglo American (AGL) fell 4.51 rand or 1.21% to 369.49 rand and BHP Billiton (BIL) lost 4.36 rand or 1.56% to 275.94 rand.
But Sasol (SOL) rose 2.51 rand to 387.01 rand. The company on Monday reported a 22% rise in headline earnings per share to 12.97 rand for the six months ended December 2010 from 10.67 rand a year ago. On a diluted basis, headline earnings per share (HEPS) rose to 12.98 cents from 10.69 cents.
An interim dividend of 3.10 rand was declared. Earnings attributable to shareholders increased by 21% to 7.6 billion rand and operating profit was up 15% at 12.0 billion rand compared with the prior year.
Operating profit was positively affected by higher average crude oil prices and chemical product prices. However, a 7% stronger average rand/US dollar exchange rate partially offset the benefits of the higher average crude oil prices.
Among gold miners, Anglogold Ashanti (ANG) eased 2.99 rand to 331.01 rand, but Harmony (HAR) gained 1.60 rand or 1.98% to 82.60 rand.
Angloplat (AMS) gave up 9.46 rand or 1.35% to 693.44 rand and Impala Platinum (IMP) slid 2.98 rand or 1.47% to 200.02 rand.
Diversified miner African Rainbow (ARI) was 2.46 rand or 1.12% lower at 216.54 rand.
In the industrial sector, British American Tobacco (BTI) slumped 11.17 rand or 3.97% to 269.99 rand after going ex-dividend.
AVI (AVI) fell a slight 17 cents to 110.61 rand after reporting HEPS from continuing operations of 152 cents - up 36% from a year ago. Diluted HEPS from continuing operations rose to 147.6 cents from 109.0 cents - a rise of 35%.
Operating profit from continuing operations was up by 30% to 695 million rand and cash generated from operations grew 28% to 792 million rand.
An interim dividend of 50 cents per share was declared - up 28% from a year ago.
The company said consumer demand in the six months to December 2010 was strong in its fashion brand businesses, and sound within the food and beverage categories.
Paper and pulp group Sappi (SAP) advanced 48 cents or 1.32% to 36.98 rand, but Mondi (MND) lost 94 cents or 1.50% to 61.56 rand.
Telecommunications firm Blue Label Telecoms (BLU) slipped 25 cents or 4.35% to 5.50 rand.
Banking group ABSA (ASA) edged down 3.05 rand or 2.36% to 125.95 rand.
RMB Holdings (RMH) plunged 13.17 rand or 34.66% to 24.83 rand due to the unbundling of its insurance business.
In the retail sector, Pick n Pay (PIK) fell 60 cents or 1.26% to 47.00 rand. - I-Net Bridge
Source: http://www.iol.co.za/sour-global-mood-hurts-jse-1.1037261
Disability Extradition Liza Minnelli Australia cricket team Television industry Global climate talks
No comments:
Post a Comment