The JSE remained in the red at midday on Friday after opening weaker in line with global markets, with no major corporate news to give the market direction.
By 12.18pm, the all-share index was down 0,65% and industrial index was down 0,66%. The financial index shed 0,23%, while the banks index was off 0,47%. The resources index retreated 0,98% and the platinum-mining index shed 1,44%, while the gold-mining index was 0,10% lower.
The rand was bid at R6,69 per dollar from R6,68 when the JSE closed on Thursday, while gold was quoted at $473,65 a troy ounce from $473,70/oz at the JSE’s last close.
Traders said that the weakness on the JSE started on Thursday afternoon and continued on Friday as the Dow lost more than 100 points on Thursday. They added that after three strong days for the local bourse this week, it was not surprising that there was a bit of a pull-back.
“There seems to be a general lack of interest and the market is just drifting. There is a bit of selling and not much on the buy side,” said a trader.
Among resources stocks, Anglo was down 301 cents, or 1,53%, at R194 and BHP Billiton was off 10 cents to R96.
Among gold counters, AngloGold Ashanti was down 2,43% or R6,70 to R268,75, while Gold Fields was up 55 cents to R88,55 and Harmony was up 2,85% or R1,92 to R69,40.
Among platinum stocks, Anglo Platinum was down nine rand to R405 and Impala Platinum was off R4,32 at R742,01.
Petrochemicals group Sasol shed R2,90 or 1,4% to R206,10.
In the banks sector, FirstRand was 16 cents softer at R15,34 and Standard Bank shed 20 cents to R68,80. — I-Net Bridge