The JSE All Share index is trading 0.1% higher in subdued morning trade led by a 0.8% gain on the resource index, followed by a 0.5% gain in the Financial Index while the Industrial index trades 0.3% lower.
In Company news Woolworths interim results highlighted the following figures:
– TURNOVER : +55.2%
– HEADLINE EARNINGS PER SHARE: +5.7%
– RETURN ON EQUITY: 30.0%
– INTERIM DIVIDEND PER SHARE: 96.5 cents
Onelogix interim results showed:
– Revenue up 9%
– Trading profit up 13%
– HEPS and EPS up 14%
Woolworths is also the chart of the day. The market has reacted favourably to the results release and the share has broken out of a short term consolidation and a move towards all time high territory at 8931 is favoured. Support is considered at 8415.
Source: IG Insight
The rand is trading at R11.76 to the dollar, R13.33 to the Euro and R17.94 to the British Pound. In commodities Gold is trading at $1226/oz, Platinum at $1200/oz, and Brent Crude at $57.3/ Barrel.
Local Mining production decreased by 2,0% year-on-year in December 2014. Negative growth rates were recorded for diamonds, iron ore, PGMs and nickel.
President Jacob Zuma is scheduled to release the State of The Nation address at 7pm this evening.
In the U.S. we are expecting m/m Core Retail and retail sales data at 3:30pm as well as weekly unemployment claims data.
