5pm market wrap

5-01-2015 Global markets down as oil price plunges to record lows

Local markets

The JSE All Share tumbled 3.41% by close of day on Monday, with 4.74% losses in resource shares leading the slide downwards, and offsetting a 4.76% gain in gold mining shares.

The rand was selling at R11.69 to the US dollar, R13.96 to the euro and R17.78 to the British pound at 5pm.

Brent crude dived 5.11% to sell at $54.40 a barrel, falling below $55 a barrel for the first time in more than 5 years. Global oversupply was made worse by increasing production from Russia and Iraq. 

International markets

In Japan, the Nikkei fell 0.24% by its close this morning as energy shares lost ground. China’s Shanghai index ended 3.58% higher, continuing the recent rally to reach 5-year highs.

European markets were negative by 5pm SA time, with the German DAX down 1.46%, the French CAC40 lower by 1.72% and the English FTSE 100 giving up 0.87%. Tumbling crude oil prices and worries about Greece’s membership of the EU saw investors consolidating their positions.

US markets followed suit, with the Dow Jones losing 0.89%, the S&P 500 sliding 0.97% and the Nasdaq declining 0.77%. The falling oil price took its toll on energy shares, which led the downward slide.

Share price news

Amongst the top ten movers upwards today was Gold Fields (GFI), whose shares rose 6.40% to R55.54 after 1,393 deals exchanged 1,036,580 shares. Investors bought and sold 1,738,426 shares in 1,296 deals, sending Harmony Gold Mining Company (HAR) shares up 6.20% to R22.95 a share by 5pm.

On the top ten losers list for Monday was Advanced Health (AVL), as shares lost 6.67% after 30 deals traded 357,744 shares and sent the share down to R2.10 at market close. Sappi (SAP) fell 6.60% to R39.77 a share after investors exchanged 1,349,939 shares in 1,437 deals.

2015-01-05 17:09:48

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