SA Market Report – 8 October
The JSE all-share index has given up a further 0.57% in morning trade, following global markets lower after the International Monetary Fund downgraded its outlook for growth.
Today's weakness is broad-based with the resource index 0.9% lower, financials 0.8% lower and the industrial index 0.61% lower.
In company news, AngloGold Ashanti's national scale rating has been raised by the Standard & Poors rating agency.
Cadiz released a trading statement in which the company expects headline earnings per share to have decreased by more than 20% against the interim comparative. The company will be impairing the R226.9 million goodwill in Cadiz Asset management by approximately R120 million.
In currencies the rand is marginally weaker in morning trade and is currently at R11.21 to the Dollar, R14.18 to the Euro and R18.00 to the [currenciesGBPZAR|British Pound]. In commodities, Gold is trading at $1217/oz, Platinum at $1278/oz and Brent Crude at $91/barrel.
On the economic front we are expecting FOMC meeting minutes out of the US tonight at 20:00, SA time.
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