The JSE Securities Exchange (JSE) was flat at midday on Monday, with gains in industrials and financials being offset by rand-related losses in resource stocks.
Volumes were light and dominated by futures activity ahead of Wednesday’s close-out.
By 12.04pm, the all-share index was flat (-0,05%). Resources retreated 0,95% and the gold- and platinum-mining indices slipped 1,06% and 2% respectively. Industrials climbed 0,23%, financials firmed 0,66% and the banks index was 1,04% better.
The rand was quoted at R5,75 per dollar from R5,83 when the JSE closed on Friday, while gold was quoted at $436,63 an ounce from $433,33/oz at the JSE’s last close.
“The market is very mixed and desperately quiet,” a dealer said. “At the moment, most of the business going through is futures related ahead of the close-out on Wednesday.”
He added that the rand was a bit of a feature, having strengthened quite a bit from its levels of about R5,81 when the JSE opened. This had led to weakness in resources stocks.
On the resources market, London-listed Anglo American lost 1,23% or R1,60 to R129, but BHP Billiton inched up nine cents to R63,10. BHP Billiton was up about 1,4% in the United Kingdom.
Gold miner Harmony tumbled 2,58% or R1,44 to R54,40, AngloGold Ashanti shed R2,10 to R209,50 and Gold Fields dipped 10 cents to R74,40.
Impala Platinum plunged 3,33% or R16 to R464 and AngloPlat eased two rand to R200.
Petrochemicals group Sasol was down 1,54% or R1,74 at R111.
On the industrial market, brand management group Barloworld was 90 cents better at R103,20 after earlier trading at a lifetime high of R104,98.
Steel producer Ispat Iscor bounced 2,53% or R1,49 to R60,49.
Media group Naspers picked up 1,12% or 80 cents to R72,10.
It was revealed on Monday that Naspers, via MIH, will hold 9,9% of Beijing Media Corporation after the latter’s IPO.
Retailer Massmart jumped 1,79% or 77 cents to R43,80 and Edcon jumped 1,39% or R3,90 to R284,95.
On the downside, hospital group Medi-Clinic dropped 5,58% or 77 cents to R13,03. Netcare tumbled 1,78% or nine cents to R4,96.
London-listed information technology group Dimension Data was down 1,71% or seven cents at R4,03 and retailer Metoz was 1,16% or three cents in the red at R2,56.
On the financial front, Sanlam was 2,03% or 24 cents stronger at R12,04.
Standard Bank climbed 1,61% or 96 cents to R60,60 and Absa was 1,04% or 75 cents in the black at R73.
Real estate company Liberty International plc was 1,49% or R1,50 lower at R99 and niche banking group Investec plc weakened 1,12% or R1,93 to R170,05. — I-Net Bridge