The JSE Securities Exchange South Africa (JSE) was marginally lower by midday on Tuesday, due to the firmer rand against the United States dollar.
At 12.04pm, the all-share and all-share industrial indices were down 0,12% and 0,08% respectively. Resources rallied 0,10%, but the platinum mining index fell 1,46% and the gold mining index lost 0,3%. The financial index declined 0,54% and the banks index was up 0,1%.
The rand was quoted at R6,68 per US dollar from R6,76 when the JSE closed on Friday, while gold was quoted at $396,70 an ounce from $396,70/oz at the JSE’s previous close.
“The JSE is marginally lower on the firmer rand, which has moved in line with the euro. In turn, good German Ifo numbers boosted the euro. With Tuesday being the Freedom Day public holiday, many investors have taken the day off,” a Johannesburg equities trader said.
“The market is awaiting fresh US economic data, which will provide a better indication of what the direction is for US interest rates. However, for the rest of today, the rand/US dollar exchange rate is going to be key,” he added.
Pulp and paper producer Sappi lost 50 cents or 0,52% to R95.
London-listed diversified resources group Anglo American added 1,2% or 176 cents to R147,51 and BHP Billiton was last up 20 cents or 0,35% at R57,20.
Anglo American Platinum climbed R6,96 or 2,7% to R250.
Swiss-listed luxury goods group Richemont lost 28 cents or 1,53% to be last quoted at R18,05.
Steel producer Iscor gained 1,1% or 41 cents to R36,60 and cellular network operator MTN Group gained 25 cents or 0,8% to R31,45.
On the financial front, Standard Bank lost 1,1% or 45 cents to R41,65 and Absa lost 14 cents or 0,3% to R46,70.
Fertiliser group Omnia touched an all-term high on Monday of R31,10, due to good prospects for the company. Omnia was last quoted unchanged at R31. — I-Net Bridge