The Top40 closed slightly firmer yesterday.  Liberty Holdings rose 3% and British American Tabacco gained over 2% after posting strong results. Impala Platinum fell close to 2% following lacklustre interim results.  US markets were mostly lower and this morning has seen mixed trade across global markets.

The TOP40 was up over 0.5% in what was a relatively quiet trading day.  US markets were close to flat as traders await Janet Yellen’s testimony which begins today.  Existing home sales fell sharply in the States.  The traders are trying to gauge when the US will raise interest rates so expect all eyes to be on the wording of Yellan’s speech.

The All Share index rose 0.4% on Friday with hopes that a Greek debt deal can be ironed out.  Sasol had a good day gaining 4% after falling sharply during the week.  Retailers were again strong with Truworths gaining nearly 5%.  Banks were losers on the day with Barclays falling 1%.  US markets were strong on Friday with the DOW gaining close to 1%.

The JSE closed lower yesterday led by a sell-off in resources and retailers.  Sasol was the main culprit losing 6% and at one stage it was down almost 10% after advising a change in it’s dividen payment policy.  Value traded was R19 billion.

Monday was quiet with the US markets having a public holiday,  The Top40 was marginally up.  SAB was up 1% as takeover rumours spread again. Merafe posted a negative trading statement which was largely expected, the share still fell.  The Rand was steady to the US Dollar at R11.65.