The JSE was slightly firmer at noon on Monday in a dull session as investors refrained from making any large moves because the United States and some European markets were closed for a public holiday.
At noon, the all-share index was up 0,26%. Resources added 0,15% and the platinum mining index was up 0,11%, but the gold mining index fell 1,05%. Industrials strengthened 0,36%, financials gained 0,30% and banks were flat (+0,02%).
The rand was bid at R7,10 per dollar, unchanged from when the JSE closed on Friday, while gold was quoted at $656,35 a troy ounce from $655,55/oz at the JSE’s last close.
“It’s a very dull session. Volumes are low. It shows how dependent were on the US and European markets,” a Johannesburg-based dealer said.
The US, United Kingdom, Germany, Switzerland and other European financial markets were closed for a public holiday on Monday.
The local bourse was, however, kept afloat by a firmer close on the Asian markets on Monday morning, as well as on Wall Street on Friday.
On the resources index, Anglo American was up R1,25 to R413,50 and BHP Billiton gained R1,20 to R168,65. Petrochemicals group Sasol was down R1,21 to R258,94.
Gold miner Anglogold Ashanti weakened R2,71 to R296,50 and Harmony shed 1,35%, or R1,44, to R105,06.
Among platinum stocks, Anglo Platinum lost seven rand to R1 205, but Impala Platinum improved R1,88 to R219,88.
Industrial brand-management group Barloworld was one rand better at R201,50, brewer SABMiller gained 21 cents to R166,50 and investment group Remgro was down 1,08%, or two rand, to R184.
Among banks, Standard Bank was off 13 cents to R109,12. It said at the weekend that it has secured a $1,375-billion term loan facility from a group of 22 international banks. The five-year facility was priced at a margin of 25 basis points above Libor and is the largest club-styled term loan concluded for Standard Bank.
FirstRand was up 15 cents to R23,90 and Nedbank improved 50 cents to R148,50.
Construction group Aveng weakened 1,87%, or 97 cents, to R51,03 and Group 5 was 1,47%, or 86 cents, in the red at R57,84. — I-Net Bridge