The JSE drifted sideways during the course of the morning on Thursday in directionless trade as it waited to see how Wall Street opened.
At 11.59am, the all-share index added 0,18%, with resources up 0,59%, the platinum mining index flat (+0,03%) and the gold-mining index little changed (-0,04%). Financials dipped 0,43% and banks shed 0,36%, while industrials traded sideways (-0,03%).
The rand was bid at 7,13 to the US dollar from 7,14 when the JSE closed on Thursday, while gold was quoted at $707,90 a troy ounce from $707,55 at the JSE’s last close.
“The JSE is up 52 points at the moment, but has been drifting since it’s open and is pretty directionless. Direction is anticipated from the United States to see what the Dow will do as it closed flat overnight,” said a local equities trader.
The Dow Jones industrial average closed 0,13% lower, at 13 291,65 points.
On the JSE, Anglo Platinum was R7,50 firmer at R1 027,50, but Impala Platinum eased R1,22, to R214,77.
Among resources stocks, Anglo American was up R2,50 to R409,50 and BHP Billiton gained R2,03 to R211,37.
Kumba Iron Ore advanced R2,50, or 1,04%, to R243,50.
Gold miner Anglogold Ashanti perked up R3,31, or 1,06%, to R315, but Goldfields lost R1,20 to R120,25.
First Uranium was 6,61%, or R3,60, weaker at R50,90.
Swiss luxury goods group Richemont lifted 31 cents to R44,20. It said earlier that for the five month period to end-August, sales have shown good growth overall.
Cumulative sales for the five months across all of the group’s business areas grew by 11% at actual rates or 17% at constant exchange rates.
Financial stock Investec dipped R1,51, or 1,91%, to R77,49 and Investec fell R1,20, or 1,53%, to R77.
Telecommunications stock MTN Group shed 50 cents to R110,80 and fixed line operator Telkom pulled back R2,50, or 1,36%, to R181.
Banking group Nedbank gave up R2,10, or 1,6%, to R129,50 and Standard Bank retreated 60 cents to R99,80.
ICT group Datatec lost 6,7%, or R2,70, to R37,60. It said earlier that its headline earnings per share for the first half to increase by approximately 7% in relation to the comparative financial period last year. Group revenues for the six months to August are expected to rise by 26% to approximately $1,9-billion, while EBITDA is expected to be approximately $60-million.
In a pre-close statement for the six months ended August, the group said its trading during the first half of the financial year has been in line with the board’s expectations, with the exception of Logicalis’ US operations. – I-Net Brige