'Very, very boring day on the JSE'

The JSE was looking lifeless at midday on Tuesday, as there was no real driver to push the market in either direction, traders said.

By 11.59am, the JSE’s broader all-share index had shed 0,1%. The gold mining index dropped 3,14%, resources fell 1,48% and the platinum mining index declined 0,55%. Banks increased 0,91%, financials collected 1,35% and industrials lifted 1,12%.

The rand was bid at 8,09 to the US dollar from 8,12 when the JSE closed on Monday, while gold was quoted at $895,25 a troy ounce from $931,05/oz at the JSE’s last close.

“It’s a very, very boring day on the JSE today. This market isn’t going anywhere and it’s been sitting around these levels the whole morning,” said an equities trader.

He added that investors were moving out of resources for the short term and into bank and industrial counters.

On the JSE, Anglo American declined R7,25, or 1,51%, to R473,25, while BHP Billiton retreated R4,21, or 1,76%, to R234,80.

Sasol decreased R4,59, or 1,18%, to R383,98.

AngloGold Ashanti weakened R3,02, or 1,11%, to R268,99, Gold Fields slipped R4,50, or 3,91%, to R110,50 and Harmony lost R5,13, or 5,28%, to R92,12.

Anglo Platinum dipped R9 to R1 181 and Impala Platinum gave up 24 cents to R312,76.

Cement manufacturer PPC gained R1,26, or 3,15%, to R41,31 and building and construction group Aveng added R1,40, or 2,41%, to R59,40.

Brewer SABMiller was up R2,49, or 1,41%, to R179,50.

Fixed-line operator Telkom pulled back R2,21, or 1,68%, to R128,99 but mobile operator MTN Group climbed R2,88, or 2,34%, to R125,88.

Absa collected 64 cents to R102,15 and Standard Bank lifted R1,85, or 2,1%, to R90,05. - I-Net Bridge



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