Tuesday, 04 September 2012 23:57
Posted by Shoaib-ur-Rehman Siddiqui
JOHANNESBURG: South African stocks edged down on Tuesday, with the benchmark Top-40 index giving up 1 percent as platinum miners were hit again by worries about the impact of labour unrest on the sector.
Losses were limited by a rise in FirstRand, after South Africa's second-largest lender said full-year earnings likely rose as much as 27 percent.
Investors have dumped miners in recent sessions on concerns about spreading labour unrest in the industry, following weeks of protest at Lonmin Plc's Marikana mine.
In addition, nagging worries about the outlook for Europe - a major South African trading partner - have made it easier for investors to sell, said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town.
"Moving money at this time, I think one can only make mistakes," du Plessis said.
"The problems (in Europe) are a lot deeper than the consensus expectations. I think we are going to see ...
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JOHANNESBURG: South African stocks edged down on Tuesday, with the benchmark Top-40 index giving up 1 percent as platinum miners were hit again by worries about the impact of labour unrest on the sector.
Losses were limited by a rise in FirstRand, after South Africa's second-largest lender said full-year earnings likely rose as much as 27 percent.
Investors have dumped miners in recent sessions on concerns about spreading labour unrest in the industry, following weeks of protest at Lonmin Plc's Marikana mine.
In addition, nagging worries about the outlook for Europe - a major South African trading partner - have made it easier for investors to sell, said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town.
"Moving money at this time, I think one can only make mistakes," du Plessis said.
"The problems (in Europe) are a lot deeper than the consensus expectations. I think we are going to see ...
JOHANNESBURG: South African stocks ended a muted session a tad higher on Monday, as battered-down miners tracked global equities on hopes of policy action from central banks to counter signs of a faltering global economy.
Gold producers such as AngloGold Ashanti were among some of the biggest gainers, recouping recent losses on higher metal prices and as investors overlooked spreading labour unrest in South Africa's mining industry.
"The guys have been rallying around the fact that poor ...
JOHANNESBURG: South African stocks led by resource shares continued to choke on Thursday along with global markets on uncertainty over the prospect for economic stimulus by the US Federal Reserve and falling commodity prices.
Shares of South Africa's third largest gold producer Harmony hit 2-year lows, led the big mining shares lower as it slid over 5 percent.
South Africa's blue-chip Top-40 index dropped 1.28 percent to 31.088.76. The broader All-share index edged down 1.2 percent to ...
JOHANNESBURG: The Johannesburg Stock Exchange has reached record highs despite forecasts of a fall amid the global crisis and deadly strikes at a platinum mine, where police opened fire on strikers.
The JSE's All Share Index rose 0.29 percent on Monday to reach 35,897.69 points -- a historical mark -- while the Top 40 Index also rose 0.26 percent to its best-ever level.
The two indexes of Africa's largest stock exchange have both jumped 12 percent since ...
DUBAI: A Kuwaiti investment firm is alleging that private equity giant Carlyle Group LP sold it a fixed income fund in 2006 without the necessary licence, and is seeking approval for its lawsuit against the US firm to be heard in Kuwait rather than the United States.
The case illustrates some of the potential legal pitfalls which US and European private equity firms operating in the Gulf face. Over the last several years they have flocked ...
JOHANNESBURG: South African stocks ended higher on Thursday as platinum miner Lonmin rose on hopes of stability in the battered sector and as minutes by the US Federal Reserve signalled it may take new measures to boost the world's biggest economy.
Lonmin, whose Marikana mine was the site of bloody clashes between workers that saw 44 people killed last week, recouped some losses from previous sessions and ended up 5.01 percent at 83.80 rand, as situation ...
KAMPALA: The Ugandan shilling edged up against the dollar on Monday due to lower demand for the greenback and traders expected it to weaken in the medium to long term as a monetary policy easing cycle makes locally-issued debt less attractive.
At 0924 GMT, commercial banks quoted the currency of east Africa's third largest economy at 2,478/2,488, slightly up from Friday's close of 2,483/2,493.
"We are not seeing any serious demand coming through particularly from the corporate ...
