The JSE was slightly higher in noon trade on Tuesday, with stocks such as gold counters bouncing after being sold off in late Monday trade. The market remained nervous, however, which made for light volumes.
By 11.59am, the all-share index was up 0,24%. Resources rose 0,29%, the gold-mining index rebounded 1,07% and the platinum-mining index climbed 0,86%. Industrials inched up 0,12% while the financial and banks indices firmed 0,31% and 0,88% respectively.
The rand was bid at 6,10 per dollar from 6,07 when the JSE closed on Monday, while gold was quoted at $679,50 a troy ounce from $676.50/oz at the JSE’s last close.
“We are up, but it is a very nervous market,” said Cortex’s Lavan Gopaul. “Transaction activity is painfully thin and value traded is small for this kind of day.”
He continued that payers were waiting for United States commodity markets to open in order to see what happened with gold and oil.
Gopaul said that the market was up on selective shares, which were recovering after Monday’s weakness, such as gold shares. Heavyweights such as Anglo American, BHP Billiton and Sasol were undecided, however.
On the resources index, Anglo was up R1 at R280 but BHP Billiton was 69c softer at R132,20.
Petrochemicals group Sasol climbed R1,04 to R275.
AngloGold Ashanti advanced 2,2% or R7,11 to R331, Gold Fields gained R1,25 to R140,95 and Harmony was 35c higher at R94,40.
Impala Platinum improved 1,55% or R18,99 to R1 247,99.
On the all-share industrial index, services group Bidvest leaped 2,17% or R2,30 to R108,40.
Furniture group Steinhoff rallied 2,01% or 48c to R24,38 after trading at a record high of R24,50.
Retailer New Clicks strengthened 2,4% or 25c to R10,65.
Cement producer PPC picked up R2,94 to R430,01. It earlier traded at an all-time high of R430,15.
Telkom ticked up 70c to R144, but MTN Group surrendered 50c to R64,80.
Swiss-listed luxury goods group Richemont eased 9c to R31,76, while London-listed brewer SABMiller slipped 70c to R129.
Standard Bank was up 1,14% or 95c to R84,60 and FirstRand firmed 1,05% or 20c to R19,26. Nedbank was R1 in the black at R137,05 and Absa added 50c to R118,75.
While life assurer Sanlam was 1,02% or 16c stronger at R15,88, London-listed Old Mutual lost 13c to R22,35. — I-Net Bridge