Stock Markets

FirstRand recorded outstanding performance

FirstRand

Yesterday it has been reported by FirstRand that there is an improvement of normalized earnings ongoing operations. These operations have not only improved by 20percent to R4.8billion but also have attributed its success to great performance by its Wesbank and FNB divisions.

On the earlier comparative period there was a major decrease seen in the retail bad debts and a decrease of 15 percent on the six months to June 2010.

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South African stocks experience a dip

South African stocks experience a dip

The FTSE / JSE Africa All Share Index of South Africa witnessed losses for three days. It only experienced a gain of 259.12 or in other words 0.8 per cent, and thus closed at 31,965.59 in Johannesburg at around 5 p. m. Thus with this the loss for the week remained limited to about 1.7 per cent. Below are mentioned the names of the stocks that were the most active ones in the market of South Africa.

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JSE/FTSE hit record level low since 28th January

share index

FTSE/JSE which is South Africa’s all share index witnessed a decrease that was the lowest since 28th January, falling 1.6 percent or 5120.13 reaching 31932.07 at close in Johannesburg at five in the evening.

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Copper prices rises high

Copper

On Monday the shanghai copper firmed slightly without getting affected fro the latest tightening move made by Beijing The long term outlook for the industrial metals remains good as there was a twenty nine month high rise in the London aluminum. In the London metal exchange the three month aluminium hit 2576 dollar each ton on Monday, which was its highest since the month of September in the year of 2008. By 02:41 GMT the price eased at 2575 dollar a ton.

Shares of Litha went up due to the state contract

Litha Healthcare

Yesterday, shares in Litha Healthcare Group went up by almost thirteen percent to reach an intraday high of two hundred and sixty five cents on news that the firm has expectations of taking its headline earnings per share to more than double for the year to December, and that it got an extension of its contract of supplying paediatric vaccines to the government by another five years.

Litha Healthcare distributes medical devices and pharmaceuticals, and has a market capitalization of about eight hundred and thirty million rand.

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Absa is all set to lay its hands on market share

ABSA

Maria Ramos, the CEO of ABSA smiled ironically when asked what she would do if the bottom were to fall out of the local economy.

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Rand stays stable in face of mergers and acquisitions

Rand

The news of the acquisition of the V&A Waterfront by Growthpoint and PIC, in record single property transaction, did not create in any new movement in the Rand value as it remained completely stable, while the approval stamp was given to the merger by the Competition Commission for the Massmart and Walmart merger. The rand was able to shrug off any effect from the fall of the Euro against the dollar.

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Losing streak of South African stocks finally ends

blue chips stocks of South Africa

The blue chips stocks of South Africa on Friday finally ended a losing streak that had continued for consecutive four days. The blue chips stocks edged closer to the highest ever mark in the two and a half years with the commodity shares getting rallied. However the rand saw a decline due to the corporate selling as it had to drop against the dollar. This decline is the lowest ever in the past five months.

The dollar rose without US intervention in the 4th quarter

dollar

According to a report that got published on Thursday the trade weighted exchange value of the dollar changed very little in the fourth quarter of the year 2010 as it was reduced by a mere 0.4 percent according to the major currency index of the Federal Reserve board. In its quarterly report on foreign exchange.

The Federal Reserve Bank of New York City said that there is a sharp contrast in the Dollar’s trend if compared with the third quarter when the United States dollar had a sharp depreciation.

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Angloplat will set up a multibillion rand empowerment deal with communities

Angloplat

The largest producer of platinum in the world, ANGLO Platinum (Angloplat) would build up a multibillion- rand empowerment deal with communities adjacent to its mines and from areas it employs its workers, as stated by its chairwoman Cynthia Carroll, as the company has started once again to give its dividend payments.

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