Midday market report
The JSE All Share Index is trading 0.05% higher this morning with Industrials leading the way – up 0.15%, whilst financials are lagging down -0.28%.
https://www.youtube.com/watch?v=5Qoq8BRcyEY&feature=youtu.be
In company news, Sasol released a solid set of financial results for the year ended in June 2014.The company reported that its headline earnings per share were up by 14% to a record R60.16 with the dividend up 13% to R21.50. Synfules production volumes were the highest in a decade at 7,6 million tons, with the ORYX GTL plant achieving an average utilisation rate of 97%. The company will look to deliver an increased annual savings of at least R4 billion by 2016 through its business enhancement programme.
AVI in its results for the year ended in June 2014 reported that revenue was up 11.4% to R10.27 billion, and Headline earnings per share from continuing operations was up 12.2% to 384cents with the dividend up 15% to 300cents with a final dividend of 180cents.
A number of company stocks go ex-dividend today including: Barclays Africa, Nedbank group, Mpact, Emira, Standard Bank, Trencor, City Lodge, Shoprite, Hospitality Property Fund, Exxaro, GoldFields, Truworths and Woolworths.
In currencies, the rand is trading at R10.76 to the dollar, R19.93 to the Euro and R17.36 to the british pound.
Commodities are trading weaker with gold trading at $1267/oz, platinum at $1411/oz and brent crude dipping below 100 for the first time in over a year at $99.96 a barrel.
In other economic news China posted a record trade surplus spurred by an increase in exports, and second straight month of declining imports due to declining domestic demand.
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