Midday market wrap
Gains in most sectors see JSE rise
The JSE All Share had risen 0.56% by noon on Friday, with gains in most sectors offsetting losses in gold mining shares.
The rand was trading steadily against the US dollar, strengthening fractionally to R10.37 though worries about earlier-than-expected Fed tapering continued.
Gold was selling at $1225.31 an ounce, experiencing some volatility as investors contemplated when stimulus removal would begin.
US markets closed lower yesterday, with the Dow Jones down 0.66%, the S&P 500 falling 0.38%, and the Nasdaq sliding 0.14% after positive retail sales data made investors wonder whether the US Federal Reserve would begin scaling back its asset-purchasing programme earlier than anticipated.
In Japan, the Nikkei finished 0.40% higher this morning on a weaker yen. In China, the Shanghai index dipped 0.31% on worries that the government will reduce the country’s economic growth target next year by 0.5%.
European markets were higher by midday SA time, with the German DAX up 0.17%, the French CAC40 rising 0.16% and the English FTSE 100 edging up 0.03%. Investors were optimistic before the meeting of the US Federal Reserve next week, at which the tapering off of economic stimulus measures could possibly be given a start date.
Share price news
Amongst the top movers upwards at midday was RBA Holdings (RBA), whose shares climbed 7.69% to R0.14 after investors traded 120,741 shares in 5 deals. Gaining 6.79% was Delta Property Fund (DLT), after 30 deals exchanged 346,999 shares and sent the share price up to R8.65 at 12:00.
ARB Holdings (ARH) slid to R5.10 after investors sold 36,017 shares in 16 deals, resulting in a loss in share price of 5.56%. Onelogix Group (OLG) fell 3.13% to R3.10 a share after 71,000 shares were traded in 9 deals this morning.2013-12-13 12:21:08
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