Market Review

South African Markets

South African markets ended in negative territory yesterday, weighed down by losses in mining sector stocks. Anglo American Platinum tumbled 4.9%, amid reports of violence at its mine in Rustenburg, as its security guards opened fire to stop a fight between rival unions. Peers, Pan African Resources, Gold Fields and Impala Platinum Holdings retreated 3.8%, 2.8% and 2.5%, respectively. Aveng declined 1.6%, even though the company forecast a rise in its headline EPS for six months ended 31 December 2012. On the contrary, upbeat 1H13 results led KAP Industrial Holdings to gain 1.8%. Invicta Holdings added 1.6%, following the announcement that it would buy High Power Equipment Africa. The JSE All Share Index fell 0.4% to close at 40,512.76.

UK Markets

UK markets closed in the red yesterday, as mining and banking sector stocks recorded loses. Antofagasta, Vedanta Resources and Rio Tinto declined 1.9%, 1.3% and 0.6%, respectively, led by a drop in metal prices. Carnival slipped 1.7%, amid reports that it would begin a detailed inspection of its towed ship, Triumph. Royal Bank of Scotland Group, Barclays and HSBC Holdings shed 1.4%, 0.3% and 0.1%, respectively, as risk appetite amongst investors declined. Vodafone Group fell 0.6%. The company announced a strategic five-year partnership with BAE Systems. Bucking the trend, Reckitt Benckiser Group rose 0.3%, following news that it would buy back as many as 6.00mn ordinary shares. The FTSE 100 Index shed 0.2% to close at 6,318.19.

US Markets

US markets were closed yesterday on account of Presidents’ Day.

Asian Markets

Asian markets are trading mostly lower this morning, as investors await the appointment of Japan's next central bank Governor. In Japan, Fanuc tumbled 3.4%, after the Japan Machine Tool Builders Association indicated that orders to China dropped 65.0% in January compared to the previous year. In Hong Kong, Sands China and Galaxy Entertainment Group sank 4.6% and 5.2%, respectively, amid reports that gaming revenue rose less-than-expected in February. In Seoul, Hyundai Motor advanced 1.2%, following news that the car-maker would launch a luxury sedan, Equus in collaboration with luxury brand Hermes. The Nikkei 225 Index is trading 0.1% lower at 11,395.16, while the Kospi Index is trading 0.1% higher at 1983.80. The Hang Seng Index has fell 0.3% to trade at 23,326.57.

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