SA Midday Market Update

The Jse All-share index is extending gains this morning having added 0.8% as the global market rebound persists as concerns over global growth subside for the time being.

Todays gains are broadbased with Resources, Industrials and Financials all adding around three quarters of a percent.

In company news, Consolidated Infrastructure Group Ltd reported year end results in which Revenue was up 29%, Headline Earnings per share added 36% and the company’s order book has grown 36% to R3bn.

Impala Platinum Holdings Ltd released a trading update for the quarter ending Septmber 2014. Gross platinum production over the period decreased by 25.5%, primarily due to lower production in Rustenburg as the company works on ramping up production to capacity after being set back by the 5 month long wage strike.

In currencies the rand is trading firmer at R10.83 to the dollar, R13.79 to the Euro and R17.48 to the British Pound.

In commodities, Gold is trading at $1229/oz, Platinum at $1266/oz and Brent Crude at $86.42/ Barrel.

No local economic data scheduled for today but in the U.S. we are expecting the FOMC statement at 8pm relating to monetary policy within the region.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.