The JSE was stable during midday on Monday tracking the balanced tone of the Asian markets in the absence of market-moving news on the local front.
At 11.57am, the all-share index was up 0,34% slightly above the 26 000- points mark. Resources gained 0,20%, the gold mining index picked up 0,13% but the platinum mining index fell 0,78%. Industrials improved 0,61%, financials added 0,14% but banks lost 0,81%.
The rand was bid at 7,31 per dollar from 7,32 when the JSE closed on Friday, while gold was quoted at $653,10 a troy ounce from $652,65/oz at the JSE’s last close.
“There’s not much in terms of direction at this stage after opening stronger as we traced the Eastern markets,” a Johannesburg-based dealer said.
He added that the market seemed to be consolidating after a recovery in oversold stocks during the two weeks ago’s big plunge.
“We’ve got futures closeout this week — the market will suffer a bit of volatility until Thursday or so,” the dealer said, adding that with big names like Absa, Anglo American and the Implats trading ex-dividend it was no surprise that the market was failing to post substantial gains.
London-listed diversified resources group Anglo American inched up 37 cents to R352,62 and BHP Billiton added 1,23% or R1,80 to R148,30.
Petrochemicals giant Sasol shed 15 cents to R223,85.
Among gold counters, DRDGold was slumped 11% or R55 or R4,45.
However, Harmony picked up 88 cents to R100 and Gold Fields edged up 16 cents to R125,66.
Platinum producer Anglo Platinum gave up 1,89% or R19,70 to R1 020,30, Impala Platinum fell 79 cents to R204,60 but Northam Platinum gained 1,55% or 75 cents to R49.
Among the industrials, consumer products and services group AVI Group added 14 cents to R19,15 after reaching a high of R19,99.
The group, which traded as high as R19,99, on Monday reported a 38% rise in diluted headline earnings per share to 82,3 cents for the half year ended December from 59,6 cents a year ago. HEPS from continuing operations grew 36% to 82,8 cents.
An interim dividend of 30 cents per share was declared.
Revenue from continuing operations was up 15% to R3,3-billion, while operating profit grew 41% to R408-million.
London-listed global brewer SABMillier added 60 cents to R161, Imperial Holdings advanced R1,50 to R154,50 and Tigerbrands leaped 2,06% or R3,50 to R173.
Packaging group Nampak improved 1,03% or 23 cents to R22,50.
Afrox was up 1,54% or 45 cents to R29,75.
International IT services group Datatec was 1,94% or 64 cents better at R33,64 while Didata shed three cents to R6,80.
Mobile network provider MTN Group climbed 2,46% or R2,20 to R91,70 and Telkom was 1,89% or R3,15 in the black at R169,80.
Banking group Standard Bank lost 1,21% or R1,25 to R102,25, Firstrand was off five cents at R23,50, Absa fell 1,95% or R2,70 but Nedbank gained 50 cents to R133.
Financial services group PSG leaped 4,78% or R1,30 to R28,50, and Old Mutual was 1,40% or 34 cents better at R25,54.
Furniture group JD Group advanced 1,53% or R1,55 to R103 but Steinhoff slipped 1,53% or 38 cents to R24,42. – I-Net Bridge