The JSE Securities Exchange South Africa (JSE) was up marginally just before noon on Friday in a market that lacked major drivers. Volumes were extremely light as players awaited the release of United States jobs data at 3.30pm, with dealers saying that a better-than-expected report could spark buying interest on global bourses.
At 11.54am, the all share index was 0,16% firmer. Resources were up 0,34%, with the gold mining index jumping 0,84% and the platinum mining index climbing 0,29%. The all share industrial index was 0,08% in the black. Financials were flat (-0,04%), while the banks index was 0,23% softer.
The rand was quoted at R6,83 per dollar from R6,86 when the JSE closed on Thursday, while gold was quoted at $393,70 an ounce from $392,70/oz at the JSE’s last close.
“We had six up days, then yesterday we were down and today we are flat. After some good gains earlier in the week, we will probably see some profit taking towards the close unless some real buying pressure comes in — if there is a good jobless number out of the US, we could end in up mode, but for now everyone is holding back,” a dealer said.
He said that the gold shares had been one of the few features of the morning session, ticking up on the back of a higher bullion price and a positive performance by their ADRs in the US overnight.
Overall, there was no real direction however.
Gold Fields gained 1,19% or 99 cents in morning trade to R84 and Harmony was 95 cents higher at R105,45. AngloGold added R1,45 to R287.
London-listed diversified resources group Anglo American climbed one rand to R172,50 and Impala Platinum picked up four rand to R587.
Swiss-listed luxury goods group Richemont was eight cents firmer at R18,28.
“Richemont is strong on LVMH’s results earlier this week and firmer European markets,” the dealer commented.
Brand management group Barloworld was 1,46% or one rand better at R69,50, while hospital group Netcare bounced 1,11% or five cents to R4,55.
Steel producer Iscor screamed ahead 3,89% or R1,40 to R37,40.
On the financial front, London-listed Old Mutual firmed seven cents to R12,03 and Sanlam strengthened five cents to R9,35.
On the JSE’s downside, synthetic fuels group Sasol slipped 50 cents to R102,50 and pulp and paper producer Sappi shed 92 cents to R94,70.
Chemical and explosives group AECI, which blasted ahead earlier in the week, retreated 1,37% or 50 cents to R36 and telecommunications group Telkom fell 66 cents to R73.
Banking group Nedcor fell 50 cents to R63,50 and Standard Bank was off 15 cents at R39,85. — I-Net Bridge