The JSE Securities Exchange (JSE) was mixed in noon trade on Friday in a market that lacked overall drivers. While heavyweight dual-listed stocks were generally firmer on the back of positive performances offshore, moves in the rest of the market were mostly stock specific, dealers said.
By 12.03pm, the all-share index was up an unexciting 0,12%. Industrials and resources rose 0,21% and 0,18% respectively. The gold-mining index lost 0,34% and the platinum-mining index surrendered 0,5%, however. Financials dipped 0,09% and the banks index was 0,46% in the red.
The rand was bid at R6,45 per dollar from R6,47 when the JSE closed on Thursday, while gold was quoted at $438,95 a troy ounce from $438,45/oz at the JSE’s last close.
“Impala’s results were out this morning and there was quite a big jump in the stock initially. The numbers on a whole were pretty good and their outlook for 2006 was pretty good. The only problem was that their production numbers were down,” a dealer said.
Before the opening, Impala reported a 9,9% increase in basic headline earnings per share for the year to June 2005 of 4 325 cents from 3 924 cents in the group’s 2004 year.
The I-Net Bridge consensus forecast was for Implats to report basic headline earnings per share of 3 891 cents.
Analysts’ forecasts ranged from 3 770 cents to 4 004 cents.
Total gross refined platinum production declined by 5,8% to 1,848-million troy ounces from 1,961-million oz in 2004. Analysts had expected gross refined platinum output of 1,82-million oz.
The group declared a final dividend per share of 1 800 cents up 13% from the 2004 final dividend per share of 1 600 cents. Implats’ total dividend per share for the year was 2 300 cents, up 9,5% from 2 100 cents in 2004.
The group was expected to declare a total dividend per share for the year of 2 055 cents.
Analysts’ forecasts ranged from 1 860 cents to 2 165 cents.
Impala shares were last quoted R1,39 in the black at R628,84, having earlier traded as high as R645.
AngloPlat, however, slipped 1,54% or R4,70 to R300.
“On the whole, the market is looking pretty jaded. It is marginally higher, which is mainly a function of buying in Billiton and Anglo coming in from the United Kingdom,” the dealer commented.
He said that other than the bit of direction the dual-listed stocks were getting from offshore, the market had no major drivers and moves were stock specific.
BHP Billiton shares were 1,11% or R1,05 better at R95,70 and Anglo American added 43 cents to R160,50.
Swiss-listed luxury goods group Richemont climbed 22 cents to R24,28 and London-listed brewer SABMiller was up 40 cents at R114.
London-listed financial services group Old Mutual inched three cents higher to R15,95.
Returning to resources, petrochemicals group Sasol slipped R1,31 to R206,79.
AngloGold Ashanti shed R1,25 to R227,50 and Harmony tumbled 2,6% or R1,30 to R48,70.
Gold Fields, however, gained 60 cents to R71,20.
Iron-ore miner Kumba was up 71 cents at R81,01.
Mittal Steel, however, eased 20 cents to R48,80 and pulp and paper producer Sappi was 50 cents softer at R69.
MTN Group surrendered 30 cents to R47,20 and Telkom gave up 70 cents to R123,30.
Media group Naspers weakened 75 cents to R103,35.
Food group Tiger Brands, however, jumped 1,62% or R2,05 to R128,25.
Retailer Shoprite rang up 1,64% or 55 cents to R16,22 and Edcon advanced 1,64% or 55 cents to R34,05.
While banking group Absa added 42 cents to R95,02, FirstRand fell 1,01% or 16 cents to R15,70. Standard Bank was off 30 cents at R70,40 and Nedbank weakened 45 cents to R87,05.
Microlender Abil was 1,48% or 30 cents in the black at R20,60 and financial and risk services group Alexander Forbes firmed 2,45% or 35 cents to R14,65. — I-Net Bridge