The JSE was weaker at midday on Monday with the profit taking that began on Friday continuing, following the bourse’s phenomenal run — which took it to successive record highs — the previous week. Being a Monday, and with no fresh news to draw buyers into the market, volumes were light.
By 11.48am, the all share index shed 0,33%. Resources retreated 0,68% and industrials eased 0,19%. The financial and banks indices both dipped 0,05%, while the gold mining index was 0,07% softer. The platinum mining index inched 0,13% higher.
The rand was bid at 6,62 per dollar, little changed from when the JSE closed on Friday, while gold was quoted at $421,75 a troy ounce from $420,35/oz at the JSE’s last close.
“There is definitely some profit taking. We were expecting the market to come back even earlier, but it had to happen sooner or later,” a dealer said.
From its low after the London bombings to its record high on Thursday, the all share index rallied over 800 points.
The dealer said that neither the rand nor world markets were offering the JSE much direction.
On the downside, petrochemicals group Sasol slipped 1,73% or R3,49 to R198,51.
London-listed diversified resources group BHP Billiton lost 1,03% or 90 cents to R86,60 and Anglo American weakened 40 cents to R154,60.
AngloGold Ashanti shed R2,13 to R237,87.
Mittal Steel was 1,63% or 80 cents softer at R48,40.
London-listed brewer SABMiller dipped 25 cents to R103,15.
Food group AVI slid 2,71% or 37 cents to R13,30 and media group Naspers surrendered 71 cents to R93,30.
Cellular network operator MTN Group slumped 1,66% or 84 cents to R49,86.
Standard Bank was down 1,43% or one rand at R69 and Nedbank fell 70 cents to R82.
London-listed financial services group Old Mutual was six cents lower at R14,82.
Banking group Absa, however, added 1,05% or 90 cents to R86,85 and FirstRand rose 1,69% or 25 cents to R15,05.
Investment trust Remgro gained 70 cents to R110,80, while Swiss-listed luxury goods group Richemont climbed 10 cents to R23,24.
Furniture group Steinhoff strengthened 1,51% or 24 cents to R16,10.
Cement producer PPC jumped 2,71% or R6,85 to R259,95.
Transport and logistics group Imperial, which earlier traded at a lifetime high of R114, was 25 cents in the black at R113.
AngloPlat added R1,39 to R300 and gold miner Gold Fields firmed 21 cents to R73,20. DRDGOLD bounced 4,3% or 26 cents to R6,31. – I-Net Bridge