The JSE was a touch higher at noon on Wednesday with further gains capped by a weaker tone in gold-mining stocks, while grocer retailer Shoprite fell on news that takeover talks have been terminated.
At 12pm, the all-share index was up 0,18%. Resources gained 0,28%, the platinum-mining index was up 0,44%, but the gold-mining index gave up 0,73%. Industrials were up 0,15%, while banks and financials lost 0,26% and 0,02% respectively.
The rand was bid at 6,90 per dollar, unchanged from when the JSE closed on Tuesday, while gold was quoted at $670,65 a troy ounce, from $673,05 at the JSE’s last close.
”The Dow had a strong showing last night, but gold stocks are restricting the market’s advance,” a Johannesburg-based dealer said.
AngloGold Ashanti was off 1,82%, or R5,49, to R295,50 and Harmony was off R1,01 to R106,04.
Grocer retailer Shoprite joined gold miners on the downside on news that the proposed R15,2-billion buyout of the group by Brait Private Equity has been called off.
Shares in Shoprite were down 3,82%, or R1,20, to R32,60.
On the resources index, Anglo American was up R1,49 to R395,74 and BHP Billiton edged up 66 cents to R166,65.
Petrochemical group Sasol added 1,54%, or R4, to R264,20.
Platinum miner Anglo Platinum firmed R4 to R1 166 and Impala Platinum improved R2 to R227.
Elsewhere, industrial brands management group Barloworld inched up 25 cents to R198,45 while global brewer SABMiller lost 73 cents to R161,65.
Agribusiness Afgri climbed 2,36%, or 15 cents, to R6,50. It earlier reported diluted headline earnings per share from all operations of 60,5 cents for the year ended February compared with a restated 37,2 cents for the same period last year. HEPS was up 65,6% to 65,1 cents.
A final dividend of 19,85 cents per share was declared, for a total dividend of 30 cents, up 53,8% on the 19,5 cents declared a year ago.
Steel maker Mittal Steel fell 39 cents to R126,11. It earlier reported a 19% rise in headline earnings to R1,504-billion for the quarter ended March compared with R1,264-billion in the December quarter. This translated into headline earnings per share of 337 cents from 284 cents in the previous quarter.
IT group Datatec was off five cents to R40.80 rand. It earlier reported a 52% increase in diluted headline earnings per share to 40 US cents for the year ended February from 26,3 cents a year ago. HEPS rose to 40,8 cents from 26,9 cents before.
A distribution to shareholders of 70 South African cents was declared — approximately 10 US cents. — I-Net Bridge