The JSE Securities Exchange South Africa (JSE) was a tad higher in noon trade in a market that, as is typical on a Monday, was very quiet.
A dealer said that there was no fresh news to drive the bourse and that most of the moves were stock specific.
By 11.54am, the all share index was up 0,28%, while the all share industrial and financial indices were both 0,17% firmer. Resources climbed 0,44%, the gold mining index gained 0,59% and the platinum mining index jumped 0,99%. The banks index was 0,31% in the black.
The rand was quoted at R6,05 per dollar from R6,09 when the JSE closed on Friday, while gold was quoted at US$408,50 an ounce from $406,80/oz at the JSE’s last close.
“We’ve got the usual Monday story and volumes are very light. There is no real data out this week and no news to drive the market,” a dealer said.
She added that pulp and paper producer Sappi had been one of the morning’s top performers, but noted that only 18 000 shares had traded.
London-listed diversified miner Anglo American was also up. It was stronger in London and this was filtering through locally.
The dealer said that there were no real trends on the market, however.
People were likely to look to the rand for direction for the rest of the day, she asserted.
In morning trade, Sappi surged 2,71% or R2,50 to R94,90. Anglo added 50 cents to R127,00.
AngloGold Ashanti advanced 1,6% or R3,30 to R209.50. Gold Fields inched up 11 cents to R62,35 and Harmony traded 25 cents higher at R67,40.
Impala Platinum leaped 1,12% or five rand to R453,00 and AngloPlat picked up two rand to R227,00.
Oil and chemicals group Sasol was 80 cents stronger at R95,60.
Brand management group Barloworld was 1,49% or one rand better at R68,00 and hospital group Netcare perked up 1,39% or six cents to R4,39.
Steel producer Iscor soared 1% or 40 cents to R40,30.
Beverages group ABI, however, weakened 35 cents to R67,70.
London-listed IT group Dimension Data dropped 1,52% or five cents to R3,25 while media group Naspers lost 20 cents to R42,80.
Retailer Foschini slid 3,04% or 70 cents to R22,30 after going ex-dividend of 62 cents per share.
On the financial front, Sanlam rallied 1,76% or 15 cents to R8,65. FirstRand firmed seven cents to R10,04 and Standard Bank strengthened 10 cents to R42,80. ABSA added 15 cents to R49,75.
Nedcor surrendered 20 cents to R59,80 rand and investment company Remgro retreated 49 cents to R75,40. — I-Net Bridge