The JSE was clutching on to gains at midday on Thursday as heavyweights in the resources and industrial sector kept the bourse firm.
BHP Billiton and Anglo American kept the resource index up, and SABMiller lifted the industrial index.
By noon, the all-share index was 0,13% higher as industrials advanced 0,25%. Resources collected 0,2%, but the gold- and platinum-mining indices retreated 0,37% and 0,31% respectively. Financials were off 0,39% and banks were 0,83% lower.
The rand was bid at 6,76 to the United States dollar from 6,80 when the JSE closed on Wednesday, while gold was quoted at $758 a troy ounce from $757/oz at the JSE’s last close. Platinum was just off its new high of $1 448,50, at $1 444.
“We are up slightly and will stay at these levels until we get some direction,” said a local equities trader.
He added that US jobless claims data is expected to be released at 2.30pm South African time, and that once that data has been released, it would give some direction to the JSE.
“Currently, the big weights are keeping the JSE up. Anglo and BHP Billiton are up, driving the resources index, and the industrial index is up because of SABMiller, but the JSE is still directionless,” he said.
By noon on the JSE’s resource index, BHP Billiton collected R3,49, or 1,37%, to R258,50, just off its new all-time high, hit on Thursday, of R261,55. Its previous all-time high of R259,50 was recorded on October 11 this year.
Anglo American edged up 88 cents to R459, but Sasol fell R3,30 to R334,70.
In the industrial sector, brewer SABMiller climbed R4,15, or 2,06%, to R205,16. Construction and building group Basil Read lifted 84 cents, or 2,39%, to R36 and diversified industrial group Barloworld added 40 cents to R130,50.
In the platinum-mining sector, Anglo Platinum shed R1,98 to R1 125,02 and Impala Platinum was off R1,50 to R239.
Gold miner AngloGold Ashanti recovered R1,95 to R300,70, but Harmony declined R1,80, or 1,45%, to R122,20 and Goldfields withdrew 13 cents to R66,81.
Among bank and financial stocks, Investec pulled back 61 cents to R71,69, ABSA gave up R1,55, or 1,17%, to R130,45 and FirstRand shed 25 cents, or 1,04%, to R23,70.
In the telecommunications sector, Telkom perked up 95 cents to R185, but MTN Group lost 23 cents to R113,77. — I-Net Bridge