The JSE all-share index is continuing its recent decline trading 1% lower in morning trade, following global market weakness after weak U.S. company earnings were reported last night and mixed Eurozone economic data was released this morning.
The resource index is leading today’s decline once again trading 2% lower, while industrials are 1.23% lower and financials have given up 0.4%.
In company news; Anglo American Plc‘s Q3 update showed production increases of 37% for iron ore, 13% for Nickel 6% for diamonds and 4% for export metallurgical coal. While lower production was realised in copper (-15%), platinum (-14%) and export thermal coal (-4%).
Kumba Iron Ore Q3 production increase of 37% was curtailed by a 4% decrease in export sales and a 14% decrease in local sales volumes. Anglo American Platinum saw total equivalent refined platinum production 14% lower in the third quarter.
Clicks reported a strong set of full-year results. Group turnover was up 9.2% diluted headline earnings per share 12.9%, with the total dividend for the year increasing by 13.1% and ROE now up to 57%.
In currencies the Rand is slightly firmer today trading at R10.94 to the Dollar, R13.85 to the Euro and R17.51 to the British Pound. In commodities, Gold is trading at $1,239/oz, Platinum at $1,252/oz and Brent Crude at $84.73/barrel.
HSBC Flash Manufacturing PMI data out of China was more or less in-line with consensus alluding to marginal industry expansion. German flash manufacturing PMI data beat expectation, while the services PMI data was a slight miss on expectation.
French Flash Manufacturing and Services PMI data both fell short of consensus estimates. Month-on-month retail sales out of the UK showed a 0.3% contraction. We are expecting weekly unemployment claims data out of the U.S at 2:30pm, South African time.
