There were no major fireworks on the JSE at midday on Wednesday, with the market being stagnant — only slightly up from early trade — as United States markets were closed for the July 4 Independence Day.
At 12pm, the all-share index was up 0,39%. Resources strengthened 0,51%, while the gold and platinum indices added 0,30% and 1% respectively. Industrials climbed 0,32% and financials lifted 0,09%. Banks retreated 0,54%.
The rand was bid at 6,96 to the US dollar from 6,97 when the JSE closed on Tuesday, while gold was quoted at $654,20 a troy ounce from $658,30 at the JSE’s last close.
“There is not much happening in the market with US markets closed,” a trader said.
He added that Anglo and BHP Billiton helped push the JSE up slightly, but the JSE is sitting in the same range as it was on Tuesday.
On the resource index, Anglo American added 0,34%, or R1,50, to R447,50, BHP Billiton climbed 0,65%, or R1,30, to R202,40 and Metorex soared 5,35% to R27.
Metorex, the diversified metals producer, has acquired 38,7% of Copper Resources Corporation (CRC) and a 5% stake in Miniere De Musoshi Et Kinsenda Sarl, a 75% owned subsidiary of CRC, for £42,85-million, about R600-million.
Among gold counters, AngloGold Ashanti gained 0,09%, or R0,25, to R266,80 and Gold Fields eased 0,20% to R109,78.
Newly listed paper maker Mondi Ltd edged up 2,83%, or R1,80 to R65,50, Sappi lost 0,55% to R127,56 and Mondi PLC retreated 1,35%, or 95 cents, to R69,25.
Platinum miner Anglo Platinum added R3 to R1 201 and Impala Platinum gained 1,92%, or R4,32 to R229,38.
Elsewhere, telecommunications group MTN added R0,82 to R99,32 and Telkom gained 0,82%, or R1,33, to R163,33.
Among business support services, Richemont gained 1,42% to R42,20 and Bidvest eased 0,10% to R142,25.
Diversified industrial group Remgro lost 0,16% to R184,70 and Barloworld rose 0,40%, or R0,81 to R205,80.
Petrochemical giant Sasol added 0,16%, or R0,44, to R268,70, and breweries giant SABMiller edged up R2,62 to R180,25. — I-Net Bridge