SA Midday Market Update with Shaun Murison

After a weak start to the day, the Jse Allshare index has rebounded to add 1 percent as markets find short term value from the recent correction we have experienced.

https://www.youtube.com/watch?v=Exb_FHDe1wU&feature=youtu.be

The financials and industrial indices have both added around 1.4% in morning trade while the resource index is 0.54% higher.

In Company News, Taste Holdings has entered into a sale of shares agreement to acquire the entire issued share capital of AKJ Holdings Proprietary Limited from The Crown Jewel Trust and The Kenilworth Park Trust. The cautionary has now been withdrawn.

Afrimat released an interim trading update in which headline earnings per share are expected to be between 20% and 30% higher than the corresponding period.

In currencies the rand is firmer today trading at:

R10.98 to the dollar,

R14.06 to the Euro and

R17.75 to the British Pound.

 In commodities,

Gold is trading at $1252/oz,

Platinum at $1269/oz and

Brent Crude at $85.86/ Barrel.

China Q3 GDP released this morning showed growth of 7.3% ahead of the 7.2% expected from Bloomberg's surveyed analysts year on year Industrial production data showed growth of 8% ahead of last month's reading of 6.9% and expectations of 7.5%

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