Midday market report

The JSE all-share index is up 0.24% in morning trade, with resources trading up 1.64% whilst industrials have lead declines trading down 0.31%.

In company news, Argent Industrial Ltd in a trading statement released this morning noted that Headline Earnings Per Share for the six months ended 30 September are expected to be between 27.7 and 31.5 cents per share, 48.8% to 68.8% higher than reported for the previous corresponding period.

We are expecting an interim earnings release fromPSG Group and the following stocks go ex div today:RCL Foods, WBHO and AVI Ltd.

The Rand has strengthened against the majors this morning, trading at R11.03 to the Dollar, R17.74 to theBritish Pound and R13.98 to the Euro. Commodities are mixed with Gold trading at $1,228/oz, Platinum at $1,265/oz and Brent Crude weaker at $88.42/barrel.

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