SA Midday Report with Shaun Murison
The JSE all-share index is trading 0.23% higher in morning trade in line with US market closes overnight. Financial and industrial indices have gained 0.48% and 0.45% respectively, while the resource index is 0.26% lower in trade so far today.
https://www.youtube.com/watch?v=jzx5zDaT8I0&feature=youtu.be
In company news, RMI Holdings full-year results showed normalised earnings to have increased 18%, the market value to have increased 30%, while a 14% increase in the company's ordinary dividend was announced.
Petmin full-year results revealed normalised profit after tax was up by 24% despite a 27% reduction at-mine-gate export prices. Net cash flow from operating activities increased 77% and a dividend of 3c per share was announced.
The rand has firmed a bit to trade at R10.94 to the Dollar, R17.77 to the British Pound and R14.14 to theEuro. Commodity prices remain soft with Gold trading at $1,247/oz, Platinum at $1,370/oz and Brent Crude at $97.3/ Barrel.
Mining production and sales data revealed 7.7% year-on-year production decrease with Platinum Group Metals providing the main negative contribution with a negative growth rate of -45.2%, while manufacturing Production and sales data for July 2014 is expected at 13:00. In China annualised CPI data showed inflation to be at 2%, while PPI data showed inflation at a factory level to have contracted by 1.2%. In the US weekly unemployment claims data is expected at 14:30, local time.
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