The JSE was flat at midday on Tuesday, with weakness in resources heavyweights Anglo American and BHP Billiton offsetting gains across other sectors. This followed losses sustained by Anglo and Billiton in London on Monday when the JSE was closed for a public holiday.
South Africa celebrated Heritage Day on Sunday, and Monday was declared a public holiday.
By 12.02pm, the all-share index was level. Resources retreated 0,72%, but the gold-mining index jumped 2,12% and the platinum-mining index picked up 1,48%. Industrials and financials firmed 0,58% and 0,45% respectively, while the banks index was 0,29% better.
The rand was bid at 6,68 per dollar from 6,62 when the JSE closed on Friday, while gold was quoted at $589,30 a troy ounce from $586/oz at the JSE’s last close.
“The performance yesterday [Monday] of the dual-listed stocks from when we closed — that’s the difference,” a dealer said. “Anglo and Billiton were down around 4% in UK trade and that’s what has dragged us down today [Tuesday].”
He continued that overall, the market did not have a bad feel to it.
“We are down 300 points on resources, but that’s on two stocks. Outside of that the market is positive. We have seen good demand for banks and some of the domestic industrials and if you take Anglo and Billiton out of the picture it would not be a bad day.”
In morning trade, Anglo tumbled 2,07% or R6,48 to R306,20 and Billiton slumped 2,58% or R3,35 to R126,60.
Coal and iron ore miner Kumba slipped 97c to R136,60, but petrochemicals group Sasol strengthened 1,62% or R3,85 to R242,10.
Harmony Gold surged 4,47% or R4,25 to R99,25, Gold Fields gained 2,12% or R2,90 to R140 and AngloGold Ashanti added R2,70 to R297,45.
AngloPlat was up 2,08% or R16,25 to R796,25 and Impala improved R10,01 to R1,300.
Among industrials, London-listed brewer SABMiller was 2,34% or R3,40 stronger at R149. Swiss-listed luxury goods group Richemont rose 8c to R36,65. SABMiller and Richemont earlier traded at record highs of R149,49 and R36,85 respectively.
Brand management group Barloworld leaped 2,95% or R3,70 to R129,20, while its subsidiary PP Cement climbed 1,33% or R4,84 to R367,50.
Media group Naspers notched up 1,05% or R1,26 to R121,65. At the opening, Naspers announced a black economic empowerment shareholding in relation to MultiChoice Africa.
Furniture retailer JD Group rang up 1,23% or 79c to R64,80, but apparel retailer Foschini fell 1,56% or 70c to R44,20.
Consumer brands group AVI slid 2,18% or 35c to R15,70.
On the financial front, London-listed real estate group Liberty International rallied 1,82% or R3,15 to an all-time high of R176.
Life insurer Liberty Group surged 3,01% or R2,17 to R74,26 and Sanlam gathered 2,56% or 42c to R16,85.
Nedbank was 1,16% or R1,30 in the black at R113,30, while specialist bank Investec was boosted 2,73% or R1,90 to R71,40.
Investment company Remgro, however, slipped 1,4% or R2,25 to R158,05. — I-Net Bridge