Archive for July 8th, 2009

ohannesburg, July 8 (I-Net Bridge) - Global volatility ruled the roost on the equity front on Wednesday, while the rand also struggled under the weight of renewed risk aversion. Bonds looked good earlier in the day as real money entered the fray, but talk of more borrowing by Pravin Gordhan led to a… »

Max King, Investec Asset Management London, looks at G8 minus China, earnings season, oil, double dips, and the… »

A potential revenue shortfall of as much as 60 billion rand means more prudent and mainly domestic borrowing, a pruning of unnecessary spending and reprioritising of spending plans, said Finance Minister, Pravin Gordhan, on… »

1time Holdings (1TM) on Wednesday said 1time Airline had achieved improved operating margins for the six months ended June 30, compared with the previous year based on lower fuel prices and higher revenues.
“Passenger volumes and yields have shown good growth despite the generally tough trading environment,” the group said…. »

While not being reflected at the short end yet, another rate cut could be on the cards in South Africa in September, according to a senior dealer in the money… »

The Competition Tribunal has approved a deal that will see Royal Bafokeng Resources increase its shareholding in Bafokeng Rasimone from 50% to 67% by acquiring additional 17% share in Rustenburg Platinum Mines…. »

The S&P 500 appears to be topping out, having broken below a key support level, and could fall below 800 points in the coming months, Christopher Locke, MD of Oystertrade.com Management told… »

World demand for OPEC’s oil may take years to recover from the slump in 2009 because of economic weakness and demand destruction, the group said on Wednesday, justifying its slower spending on new supplies.

In its 2009 World Oil Outlook, the Organization of the Petroleum Exporting Countries said consumption of its crude would not return to… »

July 8 (Bloomberg) — Stocks fell, pushing the MSCI World Index lower for a fifth day, oil retreated and the yen gained on speculation Group of Eight officials meeting in Italy have little scope to combat the worst recession since World War II…. »

Nigerian integrated energy group Oando plc (OAO), which has a secondary listing on the JSE, on Wednesday reports profit after tax (PAT) for the first quarter ended 31 March 2009 of $13 million.
This was compared to a profit of just over $12 million for the first quarter last year…. »