The JSE was higher at noon on Friday as miners gained on the back of higher commodity prices, but overall trading was cautious ahead of United States economic data this afternoon, dealers said.
At 12pm, the all-share index was up 0,61%. Resources gained 0,38%, the gold- and platinum-mining indices picked up 1,75% and 1,71% respectively. Industrials added 0,38%, financials strengthened 0,19% but banks lost 0,04%.
The rand was bid at 7,11 to the US dollar, unchanged from when the JSE closed on Thursday, while gold was quoted at $662,55 a troy ounce from $659,95 at the JSE’s last close.
“Taken as a whole, metal prices are beginning to look very good hence we are seeing gains in mining stocks,” a Johannesburg-based trader said.
He added that investors were trading cautiously ahead of this afternoon’s US non-farm payrolls and consumer-spending data.
On the resources index, Anglo American was up R4,18 to R430,10 and BHP Billiton gained R1,09 to R174,50.
Steel maker Mittal Steel climbed 2,69%, or R3,40 to R130 but synfuels maker Sasol eased 36 cents to R256,70.
Among gold counters, Anglogold Ashanti rose 2,25%, or R6,58, to R298,63, Gold Fields added 1,07%, or R1,29, to R121,81 and Harmony was 2,24%, or R2,33, better at R106,21.
Platinum mining group Anglo Platinum strengthened 1,65%, or R19,75, to R1 213,50 and Impala Platinum advanced 1,42%, or R3,10, to R221,11.
On the industrial front, Barloworld slipped 60 cents to R196,90 but brewer SABMiller gained 37 cents to R170.
Specialist retail group New Clicks Holding inched up five cents to R16,05. Shortly before the bourse opened, the company said it would sell its retail business, Discom, to Edcon for R369-million.
Media and entertainment group Naspers firmed 1,60%, or R3, to R190,95 and Primedia rose 2,04%, or 50 cents, to R25. — I-Net Bridge