The JSE all-share index is trading up 0.19% with gains across financials and industrials. Resources however are weaker, trading down 0.39%.
In company news, Cashbuild for its first quarter update for the financial year of 2015 indicated that revenue was up by 10%, transactions through tills were up 7% with new stores increasing by 7% and units sold increased by 5%.
Three new stores were opened, two refurbished and two relocated for the period, bringing the total number of stores in operation to 217.
Old Mutual has bought high nett worth private wealth manager Quilter Cheviot in the UK for a sum of R10 billion, enforcing the company’s commitment to the UK market.
This came at the expense of a special dividend that investors were expecting from Old Mutual. The company has also disposed of its European operations Skandia Poland, Germany and Austria and investors will be raising some concerns over the Skandia operations in Italy, France and Switzerland.
Two companies go ex-div today: Capitec Bank Holdings and Argent Industrial Ltd.
In currencies the Rand is trading firmer against the majors at R11.05 to the Dollar, R14.10 to the Euro and, R17.82 to the British Pound. And we have a mixed bag in commodities trade with, Gold trading at $1,242 to the ounce, Platinum at $1,270 to the ounce, and Brent Crude at $86.09 to the barrel.
There is no economic data of any significance due for release today, however traders may be queueing up for the release of Chinese GDP numbers tomorrow morning at 3am South African time.
