The JSE Securities Exchange was flat at midday on Tuesday with no clear drivers. Resources stocks BHP Billiton and Sasol, which were boosted by the high oil price, kept the market in neutral territory.
At noon, the all share index was level. Resources were up 0,37%. The gold
and platinum mining indices, however, were 0,51% and 0,54% weaker respectively.
Industrials had lost 0,3%, financials had fallen 0,10% and the banks index was
0,15% in the red.
The rand was bid at 6,64 per dollar from 6,63 when the JSE closed on Monday, while gold was quoted at $437,80 a troy ounce from $439,45/oz at the JSE’s last close.
The market is pretty mixed and very flat,” a dealer said. “Until about an hour ago, it was deadly quiet, although volumes have picked up a bit.”
He added that the rand was steady after firming on Monday, while the gold price had eased a bit.
“There are no real indicative movements in the market and there is no big news out. It is a wish-washy kind of day,” the dealer commented.
On the resources index, BHP Billiton leaped 2,12% or R1,80 to R86,75 and petrochemicals group Sasol strengthened 1,28% or R2,24 to R177,20.
The dealer said that these stocks were benefiting from the oil price, which remained near record highs above $60 a barrel.
Anglo American, however, was R1,50 weaker at R155,40 despite being up in London. The rand’s strength relative to its levels seen in recent days was weighing on the stock, the dealer explained.
Gold miner Harmony lost 1,53% or 85 cents to R54,65 and Gold Fields dipped 10 cents to R72,50, but AngloGold Ashanti inched up 20 cents to R236,25.
DRDGold dived 7,54% or 49 cents to R6,01. AngloPlat was off R2,01 to R289,99 and Impala eased one rand to R599.
On the industrial index, Swiss-listed luxury goods group Richemont retreated 1,11% or 25 cents to R22,35 and London-listed brewer SABMiller slipped 1,35% or R1,40 to R102,60.
Pulp and paper producer Sappi was 45 cents softer at R72,10 and services group Bidvest was 40 cents in the red at R71,60.
Hospital group Netcare weakened 1,63% or 10 cents to R6,03.
Mittal Steel, however, was 1,93% or 86 cents stronger at R45,36.
Telkom climbed 1,04% or R1,10 to R106,85 and cellular network operator MTN Group gained 37 cents to R44,13.
Retailer New Clicks rallied 2,15% or 16 cents to R7,61 and furniture group Steinhoff firmed 1,34% or 20 cents to R15,15.
Financials to firm included banking group FirstRand , which was up five cents at R13,92.
Microlender ABIL added 15 cents to R18,60.
Investment trust Remgro rose 90 cents to R103,50.
Standard Bank was 40 cents weaker at R64,60 and London-listed financial services group Old Mutual fell eight cents to R14,47.
Real estate company Liberty International retreated R1,04 to R116,80. – I-Net Bridge