The JSE All Share index is trading -2.15% lower in morning trade with weaker commodity prices triggering a sellof in Resource stocks, with the Resource Index off 5.46%.
In company news Illovo has released its Interim report for the six months ending on the 30th of September, indicating that Headline earnings per share fell 10% to 171.1 cents. Group revenue was down 5% to R5.932 billion impacted by lower sugar production and Operating profit was down 14% at R1.393 billion.
A number of shares go ex div today, including: Investec, Acucap Properties, Adcorp Holdings, Arrowhead Properties, Coronation fund managers, Famous Brands, Invicta Holdings, Life Healthcare, Mediclinic, Raubex and The Spar Group.
The chart of the day is on Sasol: The share entered a volatility auction shortly after open and plunged to a low of R405.01 following further weakness in Brent Crude and is currently the JSE’s biggest loser on the day down over 8%. The selloff in the share has come on the back of large volume, evident in the chart.
In currencies news the rand is trading at R11.09 to the dollar, R13.83 to the Euro and,  R17.39 to the British Pound.
In commodities, Gold is trading at $1163/oz, Platinum at $1197/oz and Brent Crude at $68.65/ Barrel.Yesterday Swiss voters rejected a referendum requiring the central bank to hold a portion of its assets in Gold, sending the price of gold to a 3 week low.
This morning we had slightly weaker PMI numbers out of China, coming in under estimates at 50.3 as opposed to 50.6. We are expecting US ISM manufacturing PMI along with US ISM Prices Paid at 3pm.
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