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All the other South African indices are weaker with banks down 0.7%, industrials 0.4% lower and resources giving 0.53% back.
In company news, Sibanye Gold released operating and financial results for the six months ended 30 June 2014. The main features included an interim dividend of 50cents per share was declared, operating profit increased by 4% to R3.5 billion, gold production increased by 8% to 22,143kg and operating cost declined by 10% to R815/ton.
An interim management statement for the three month period ending 30 June 2014 was released by Investec. Total operating income (excluding depreciation on operating leased assets) is 1% ahead of the prior year, impairment losses on loans and advances decreased by 17%, operating costs increased by 1% compared to the prior year and recurring income as a percentage of total operating income amounted to approximately 78%, better than the 76% in 2013.This was supported by higher average funds under management.
The rand is trading at R10.71 to the Dollar, R14.34 to the Euro and R18.07 to the British Pound. Looking at commodities, Gold is trading at $1294 per ounce, Platinum at $1470 per ounce and Brent Crude is at $105.79 per barrel.
The annual percentage change in the South African Producer Price Index for final manufactured goods was 8.1% in June 2014. From May 2014 to June 2014 the PPI for final manufactured goods increased by 0.3%. American initial jobless claim figures will be published at 2:30pm.