By Shaun Murison
The JSE all-share Index is trading 0.7% lower in morning trade led by a weaker resource sector which has declined 9 tenths of a percent.
Losses are however broad-based today with financials and industrial sectors both having given up around half a percent.
In Company News, Anglo American PLC released a production report for its second quarter in which iron ore production through its subsidiary Kumba Iron Ore grew 2%, refined platinum through its Amplats subsidiary decreased by 40% as a result of the prolonged strike, while Anglo American’s most notable production increase of 25% was from nickel production.
A Woolworths trading update for the 52 weeks ending 29 June 2014 highlights group sales to have increased by 14.4%. Notable sales growth was witnessed in Australia and New Zealand, (including Witchery Group) of 20.3%.
Royal Bafokeng Platinum has announced it has successfully concluded a wage agreement for its permanent employees represented by the National Union of Mineworkers.
In Currencies, the Rand is trading at R10.69 to the Dollar, R14.47 to the Euro and R18.30 to the British Pound.
In commodities, Gold is trading at $1301 per ounce, Platinum at $1490 per ounce and Brent Crude at $107.5 a barrel.
Stats SAÂ reported Wholesale trade sales to have decreased by 0.9% y-o-y in May 2014, while motor trade sales decreased 1.1% y-o-y in May 2014.
At 15:00 Reserve Bank Governor Gill Marcus will give a revised economic outlook as well as a decision regarding lending rates at today’s monetary policy meeting.
In the US, we are expecting weekly unemployment claims and building permits data at 14h30 and Philly Fed Manufacturing index data at 16:00.
This article was first published on IG
