The JSE all-share index is trading into new high territory once again having added 0.55% in morning trade in broad-based gains although led by resource counters as commodity prices rebound.
The resource index is 0.87% higher, the industrial index has added 0.69% and the financial index 0.11%.
In company news, SABMiller released a trading update in which the company has guided that the group’s net producer revenue grew by 4%, with total beverage volume growing by 1% in the twelve months ending March 2015.
Brait, through its wholly owned subsidiary Brait Mauritius, has entered into a conditional agreement to acquire an 80% interest in Virgin Active (the international health club operator) for ÂŁ682m. Brait will fund the acquisition with cash on hand.
Business Connexion reported that in the six months ending February 2015 it increased revenue by 16%. On a normalised basis, excluding primarily the profit on the sale of Q-Link and the impact of the amortisation of intangibles, diluted headline EPS were 25.9 cents (2014: 20.7 cents). Astrapak full-year results saw the company reduce its continuing headline loss per share figure by 78.4%.
In currencies, the Rand is trading at R12.06 to the Dollar, R17.88 to the British Pound and R12.85 to the Euro. In commodities, Gold is trading at $1,205/oz., Platinum at $1,165/oz. and Brent Crude is at $62.5/barrel.
On the economic front, wholesale trade sales measured in real terms decreased by 0.4% y/y in February 2015 in South Africa, while motor trade sales increased by 0.6% over the same period with positive annual growth rates recorded for used vehicle sales of accessories, convenience store sales  and new vehicle sales (1.8%). In the U.S., we are expecting building permits and weekly unemployment claims data out at 2:30pm.