A bit of grey
FirstRand gained 2.36% yesterday despite the company denying takeover talks with Citigroup, while RMB Holdings (2.89%) Nedbank (2.18%) and Absa (1.22%) followed suit.
The Efficient Group reports that Harmony managed to record a rise of 1.08% while DRD Gold jumped 10.74% yesterday, while Western Areas (-2.89%) and MTN (-1.38%) were still in the dumps at the close of trading.
The currency was mixed against the majors, gaining against the pound, unchanged against the dollar but weaker against the euro. Platinum polished its price by 50 cents while gold dimmed a further 15 cents.
The seven day rally in the US was ended yesterday with an average drop of 0.55%, as Citigroup disappointed with their results.
IBM’s results, released after the US close, should support US markets later today. European markets closed flat with the FTSE and CAC40 losing some ground while the Germans (DAX) made some headway.
The Far East is trading flat so far this morning in reaction to the weaker than expected results from Citigroup, pulling HSBC lower. Local equities are expected to continue to show its strength, especially financial stocks.
Business Day:
* SABMiller in $6bn Latin American brewing coup
* Iron-ore prices may gain 10% next year
Business Report:
* Empowerment not a risk for Telkom
* Grindrod soars on forecast
Moneyweb:
* Mobile pricing models a ‘national concern’
* Heavy steel price downgrade
Sake-Beeld:
* Hersienning kom tóg van arbeidswette
* Elektrisiteit kos veels te min, sê Eskom
