In the black
The latter after JD Group (0.39%) announced a planned take-over of Connection Group at a price of R14.75 a share. Highveld Steel & Vanadium (10.44%) was the second largest gainer while Real Africa Holdings was the largest loser declining 16.00%.
The currency did not show any major reaction to the ratings upgrade from S&P with only showing strength against the dollar while it weakened slightly against the euro and pound.
Commodities recorded strong increases yesterday with gold increasing by 0.86%, platinum 1.34% and oil moving above $60 or 1.80%.
The high oil price dampened the mood on Wall Street leaving the Dow Jones 0.17% lower while eBay helped the Nasdaq (0.48%) to close in the black. European stocks traded flat yesterday as the higher oil price increases the fears of weaker international economic performance this year.
The Far East is mixed this morning with the Nikkei (-0.16%) sliding on profit taking while the Hang Seng (0.98%) lead by energy stocks. Trading on the JSE is expected to be firm but is not expected to increase by the same extent as last week.
Business Day:
* Standard & Poor’s upgrade cuts SA’s Borrowing costs
* Production comeback lifts hopes for growth
Sake-Beeld:
* Ru-olie prys bo $61 ná koning se dood
* JD Group se bod gee vlerke aan Connection-prys
Moneyweb:
* Telkom slam broadband report
* JCI and Randgold & Exploration suspended
Business Report:
* Sasol aims to sell most of barely profitable Condea
* Competition commission driving motor firms up the wall
