The JSE Securities Exchange (JSE) was flat in noon trade on Friday, with no major drivers to give it direction. Dealers said that it was a typical Friday, with no real interest in the market.
By 11.56am, the all-share index was a neither-here-nor-there 0,07% weaker.
Resources were 0,41% in the red. The platinum-mining index jumped 1,04%, while the all-share industrial and banks indices were 0,22% and 0,28% better respectively. The financial and gold mining indices were both flat.
The rand was quoted at R6,15 per dollar from R6,14 when the JSE closed on Thursday, while gold was quoted at $415,65 a troy ounce from $415,70/oz at the JSE’s last close.
“Volumes are quietish — there is not much going on,” a dealer said. “It is a typical Friday. There is no interest. There is cricket this afternoon.”
South Africa take on England in the third one-day international of the seven match series, which they currently trail 0-1.
The dealer said that platinum stocks were a feature on the market’s upside. Although the rand was off its worst level of R6,18 per dollar reached on Thursday afternoon, it remained relatively weak and the platinum price was holding up nicely.
Impala leaped 1,5% or R7,88 to R534 and AngloPlat added R1,99 to R227.
Petrochemicals group Sasol was 70 cents stronger at R129,10.
However, profit-taking, primarily from London, was being seen in diversified miners Anglo American and BHP Billiton, which had a strong run earlier in the week.
Anglo eased 60 cents to R147,80 and Billiton lost 1,04% or 81 cents to R77,14.
On the industrial market, London-listed IT group Dimension Data dived 6% or 29 cents to R4,54. Didata held an analyst meeting in London on Thursday and has since been downgraded to neutral by Merrill Lynch.
Steel producer Ispat Iscor was 1,33% or 85 cents softer at R63,10 and retailer Massmart was down 1,43% or 58 cents to R40,01.
Swiss-listed luxury goods group Richemont rose 18 cents to R19,10 and pulp and paper producer Sappi was 1,08% or 80 cents stronger at R74,70.
Services group Bidvest climbed 1,24% or 95 cents to R77,80.
Standard Bank strengthened 40 cents to R62,70 and FirstRand firmed eight cents to R13,38.
London-listed financial services group Old Mutual was 10 cents in the black at R14,80.
Sanlam, however, slipped 1,18% or 15 cents to R12,60 and Liberty Group tumbled 1,99% or R1,29 to R63,51.
Investment trust Remgro was 1,05% or one rand in the red at R94,50. — I-Net Bridge