Archive for February 26th, 2010

ArcelorMittal gets no more discounted iron ore (2)
- ArcelorMittal takes urgent action against Sishen
- ArcelorMittal asks JSE to halt trade in shares
Johannesburg, Feb 26 (I-Net Bridge) - ArcelorMittal South Africa (ACL), the South African arm of the world’s largest steel producer, on Friday said Sishen Iron Ore Company (SIOC) had notified the company that it… »

An iceberg the size of Luxembourg has split off from the Antarctic continent and could disrupt global ocean patterns and weather systems for decades, according to scientists.

The 985 square-mile (2,550 square-kilometre) block of ice was knocked off the Mertz Glacier Tongue, a spit of floating ice protruding from East Antarctica on February 12 or 13…. »

Johannesburg, Feb 26 (I-Net Bridge)   Gaming and leisure group Sun International (SUI) on Friday reported diluted headline earnings per share of 259 cents for the six months ended 31 December 2009, from 344 cents earlier.
    It recorded diluted earnings per share of 259 cents, from 343 cents earlier.
    Revenue for the six months was 2%… »

LEI, CPI, PPI, GDP, M3, PSCE……..don’t you love the jargon that the economists throw at us in the name of data? Sadly we have to take note, and to explain all this and a lot more is our resident market veteran Liston Meintjes. Not only South Africa was busy by the way-the US had a… »

Cape Town, Feb 26 (I-Net Bridge) - Trade union federation Cosatu and its allies in the People’s Budget Coalition have proposed to Parliament that a wealth tax should be imposed on the rich in order to improve the flow of revenue to the government, and also to reduce that growing inequality… »

According to data released by the South African Reserve Bank up to January this year, growth in mortgage advances improved slightly to 3,1% year-on-year (y/y), from
2,8% y/y in December. Month-on-month growth was at a level of 0,3% in January, marginally up from 0,2% in December.
After picking up somewhat in December, the year-on-year growth in mortgage… »

Johannesburg, Feb 26 (I-Net Bridge) - Credit extension to the private sector (PSCE) grew at a negative rate of -1.12% year-on-year (y/y) in January from a revised -0.55% (-0.8%) in December, the South African Reserve Bank (SARB) said on Friday.
The rate of growth of South Africa’s broad M3 money supply measure rose… »

— SARB releases January M3 and PSCE data.
— Customs & Excise releases January trade balance.
— Treasury releases January statement of national revenue, expenditure and borrowing.
— Weekly treasury bill auction.
— Sun International releases interim results.
— Mustek releases interim results (approx date).
WHAT TO WATCH FOR:
Money supply, private sector credit extension and trade are due for … »

SINGAPORE—Asian stocks were mixed Friday with losses in the Japanese market contained by news of stronger-than-expected industrial production.

The market was encouraged by U.S. stocks “not falling out of bed,” with a late recovery Thursday, said ASB Securities broker Stephen Wright in Wellington. “The general tone is reasonable bearing in mind how overseas markets went overnight.”… »

A late wave buying couldn’t quite bring the stock market back from a morning swoon, leaving major averages modestly lower at the bell, hurt by investors’ worries about the U.S. jobs picture and sovereign debt in Europe.

Unwinding of bearish bets in the euro boosted that currency’s value versus the dollar as the afternoon progressed, encouraging… »