The JSE All Share index has experienced a sharp rebound from yesterdays decline following news that the Peoples Bank of China (PBOC) reduced its benchmark lending rate by 25basis points.
The resource index has been the major benefactor of the news adding 4.34% on the day, while industrial and financial indices are also strong adding 1.79% and 1.46% respectively.
In company news: Adcock Ingram released a trading statement guiding that the company made approximately R50 million profit after tax in the three month period ending in September 2014.
It the last day to trade for a dividend entitlement on shares Datatec, SABMiller, Trans Hex Group, Trustco Group Holdings and the Vodacom Group.
In currencies news the Rand is trading firmer at R10.91 cents to the Dollar, R13.57 to the Euro and R17.10 to the British Pound. In commodities, Gold is trading at $1,198/oz., Platinum at $1,219/oz. and Brent Crude at $81.5/barrel.
In Europe, European Central Bank (ECB) President Mario Draghi in his address to the public, guided that inflation remained a concern and if the outlook declined further the ECB would look to broaden debt purchases to support the economy.
