IG Markets: Midday market update, 6 March

By Shaun Murison

The JSE all-share index is trading 0.2% lower in morning trade, as financial markets trade tentatively ahead of this afternoon’s employment data out of the U.S.

A 0.66% gain in industrials and a 0.33% gain in financials is offsetting a 1.1% loss in resources.

In company news, Bell Equipment released a trading statement in which the company has guided that full-year results will reflect a drop in Headline Earnings Per Share (HEPS) of between 70% and 80%.

It is the last day to trade for dividend on shares: City Lodge Hotels, Discovery Ltd, Distell Group Ltd, Kumba Iron Ore, Onelogix Group, Remgro Ltd and Truworths International Ltd.

The Rand is trading at R11.77 to the Dollar, R13.00 to the Euro and R17.95 to the British Pound. In commodities, Gold is trading at $1,194/oz., Platinum at $1,173/oz. and Brent Crude at $60.7/barrel.

On the economic front, we await non-farm jobs data, as well as the official unemployment rate out of the U.S. at 3:30pm.

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