Ignoring fairly stable European markets, the JSE was flat by noon on Tuesday in what a trader said was a directionless session with the market trying to consolidate its recent gains.
By noon the all-share index was flat (down 0,06%), with resources edging up 0,12%, platinum miners easing 0,71% and gold counters giving up 1,68%. Banks lost 0,58%, financials weakened 0,35% and industrials were off 0,11%.
The rand was last bid at 9,39 to the dollar from 9,42 when the JSE closed on Monday, while gold was last quoted at $870,95 a troy ounce from $878.45/oz at the JSE’s last close.
The platinum price was at $907,50/oz from its previous close of $915,50/oz and Brent crude was at $40,08 per barrel from a previous close of $40,55.
“We are not doing much at all. There is not much direction and a lot of the people are still away,” a local trader said.
“Metal prices are still looking good and there is still better demand in some of the direct mining shares.
“On yesterday’s [Monday] moves, we are likely to stall a bit as markets try to see if the recent gains will be sustainable.
“We are steady for this time of the year. It’s quiet and there is no news that is driving the market. The market is consolidating,” he added.
On the JSE, resources giant Anglo American gave up 36 cents to R208,01 but BHP Billiton put on R2,39, or 1,39%, to R174,72.
Petrochemicals group Sasol collected R1,45 to R274,95.
Paper group Sappi was down 60 cents, or 1,66%, to R35,50 and Mondi gave up 25 cents to R34,55.
Among gold miners, AngloGold Ashanti lost R4,70, or 1,83%, to R252,30, Gold Fields gave up R1,16, or 1,28%, to R89,24 and Harmony shed R1,96, or 1,96%, to R98,04.
Platinum miner Anglo Platinum fell R13, or 2,46%, to R515 but Impala Platinum edged up 40 cents to R130,60.
In diversified miners, African Rainbow lost R1,98, or 1,82%, to R107,02 but Exxaro was up 94 cents, or 1,38%, to R69 and Hulamin gained 63 cents, or 4,83%, to R13,68.
Elsewhere on the JSE, brewer SABMiller weakened 39 cents to R161,30, British American Tobacco lost R1,33 to R242,20 and Imperial eased 31 cents to R59,69.
Among banks, Standard Bank lost 90 cents, or 1,08%, to R82,10 and FirstRand eased 10 cents to R15,80, but Absa was up 12 cents to R107,02 and Nedbank added 29 cents to R94,10.
Financial services group Sanlam was up 27 cents, or 1,60%, to R17,17, but Investec was down 47 cents, or 1,15%, to R40,53.
Construction group Aveng gave up 58 cents, or 1,84%, to R30,97, but Murray & Roberts was up 81 cents, or 1,69%, to R48,81.
Packaging group Nampak was up 80 cents, or 6,02%, to R14,10.
Telecommunications group MTN Group gave up 47 cents to R106,34 and Telkom was unchanged at R112. — I-Net Bridge