The JSE remained flat in a directionless session at noon on Monday, failing to get the most out of the strong moves in the Dow Jones industrial index on Friday.
At noon, the all share index was flat (+0,02%). Resources were down slightly by 0,02%, but the gold and platinum mining indices gained 0,93% and 0,51% respectively. Financials shed 0,19%, banks weakened 0,95% while industrials rose 0,29%.
The rand was bid at 7,04 per dollar, from 7,03 when the JSE closed on Friday, while gold was quoted at $690,75 a troy ounce from $691,55/oz at the JSE’s last close.
“We are seeing buyers coming in after the Dow closed at near record levels on Friday but there’s really not much happening to give us direction,” a Johannesburg-based dealer said.
He added the market was caught between players wishing to remove money from the table and those buyers wishing to benefit from booming precious metal prices.
On the resources index, London-listed resources giant Anglo American surrendered R1,85 to R382 and BHP Billiton lost 50 cents to R161.
Petrochemicals group Sasol added 50 cents to R246,50.
Gold miner AngloGold Ashanti gained R1,01 to R337, Gold Fields was up 1,04%, or R1,40, to R252.,0 and Harmony climbed 1,74%, or R1,98, to R115,88.
Leading platinum stocks rose. Anglo Platinum was R6,99 better at R1 265 and Impala Platinum rose R1,50 to R252,50.
Construction group Aveng advanced 1,42%, or 68 cents, to R48,68.
It said earlier that it has reached an agreement with Holcim South Africa on the disposal of its 5,65% stake in Holcim SA at an implied enterprise valuation of R16,4-billion.
Elsewhere, auto investment group Imperial Holdings climbed 2,62%, or R4,12, to R161,50.
London-listed brewer SABMiller gave up 32 cents to R163,20 while Barloworld gained 1,06%, or R2,11, to R202,11.
Steel maker Mittal Steel fell 1,02%, or R1,29, to R124,71.
Mobile network provider MTN Group picked up 95 cents to R105,10 and Telkom firmed 20 cents to R178,50.
On the banking index, Standard Bank shed R1,10 to R111,50, FirstRand was off 24 cents at R25,35 and Nedbank weakened R1,45 to R154,75.
Financial services group PSG picked up 1,27%, or 25 cents, to R26,85, Old Mutual was 10 cents better at R24,80 and Sanlam advanced 2,30%, or 50 cents to R22,25. ‒ I-Net Bridge