Archive for November 25th, 2009

Gold is relentless, platinum has nearly doubled, and oil has more than doubled. We chat to the giant organistaion REUTERS about the recent resources rally, and try to fathom if it’s… »

As always on a Wednesday we talk property and related issues with Chris Drummond, the CEO of Benguela Cove Investments (Pty) Ltd. Today he’s in Johannesburg on a philanthropic mission that flies in the face of what most cynics understand to be the character of property entrepreneurs. Interesting… »

CPI in South Africa has fallen back into the SARB’s target band of 3-6%. Great, but so what? Can this signal further rate cuts, or does Tuesday’s GDP print sound the death knell for the monetary doves? Find out with a top local… »

Inflation is now heading towards the mid-point of the 3-6% target band, which should put further rate cuts back on the agenda, according to André Roux, head of fixed income, Investec Asset Management.
He said in a note on Wednesday that CPI inflation has fallen within the target band for the… »

SA has missed its inflation target for more months than it has achieved it, indicating that a too narrow band was initially imposed for a country that has a history of double digit inflation. The targeted measure of inflation, whether CPIX orCPI, has averaged 6.8% y/y, well above the 6.0% upper limit ofthe target band…. »

While CPI inflation has regained target today, it is unlikely to consistently remain within the 6-3% band over the next six months due to base effects and the impact of salary and wage increase, which are still running well above 6%. It should rise just above 6% in the next couple of months, but consistently… »

The increase in South Africa’s consumer price index (CPI), which is used by the South African Reserve Bank (SARB) for its inflation target, was up 5.9% year-on-year (y/y) in October from 6.1% y/y in September, Statistics South Africa (Stats SA) said on Wednesday.
CPI was at 0.0% month-on-month (m/m) after increasing 0.4%… »

Retailer Massmart Holdings (MSM) on Wednesday provided a cautious outlook in a trading statement, adding that its business planning was extremely difficult because the speed with which the global economic crisis had fundamentally changed the environment, rendering references to the prior year “almost invalid”.
“To illustrate this, a year ago: we… »

The JSE opened almost 1% firmer on Wednesday as gold surged to a new high and gold mining stocks moved higher.
At 09:15 the JSE all share index was 0.93% stronger, led by a 2.19% rise in gold miners, a 1.77% jump in resources and a 1.10% advance for… »

Wits Gold H1 dil’ headline loss 22.05c vs 4.28c(2)
- Wits Gold H1 operating loss R7.9m vs R8.8m
Johannesburg, Nov 25 (I-Net Bridge)   Gold and uranium exploration firm Witwatersrand Consolidated Gold Resources or Wits Gold (WGR) on Wednesday reported the widening of its first half diluted headline loss to 22.05 cents a share from 4.28 cents a… »