IG Markets: Midday market update, 20 February

By Shaun Murison

The JSE all-share index is trading 0.1% lower in morning trade as Greek bailout uncertainty continues to caution markets.

The resource index is trading 0.4% higher, the financial index 0.4% lower, while the industrial index has given up 0.17%.

In company news, the Spur Corp Ltd released a trading statement guiding that the company expects earnings and Headline Earnings Per Share (HEPS) to fall between 25% and 30% against the previous year’s interim comparative period.IG

The Rand is trading at R11.64 to the Dollar, R13.17 to the Euro and R17.88 to the British Pound. In commodities Gold is trading at $1,202/oz., Platinum at $1,155/oz. and Brent Crude will cost you $59.99 a barrel.

French Flash Manufacturing PMI data alluded to larger than expected industry contraction, while the Flash Services PMI data alluded to surprise expansion in the services sector.

German Flash Manufacturing PMI data alluded to weaker than expected industry growth, while the Flash Services PMI data alluded to better than expected expansion in the services sector. In the UK, m/m retail sales data witnessed 0.3% negative growth, worse than consensus estimates had predicted.

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