IG Markets: Midday market update, 23 March

Resources are up 1.2% following a rally in commodities form last week.

In company news, Advtech has released its preliminary results for the end of December 2014, guiding toward what has been a successful year for the company.

Revenue was up 9%, with operating profit climbing 16% from previously. Normalised earnings per share were up 12% with dividend of 26 cents being declared.

In the forex market the Rand is trading at R12.08 to the Dollar, R13.07 to the Euro and R17.99 to the British Pound. In commodities trade today, Gold is trading at $1,182/oz., Platinum at $1,137/oz. and Brent Crudeat $54.44/barrel.

In economic news, we have existing home sales out of the USA at 2pm.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.