The JSE was flat by noon on Monday weighed by softer resources which came under pressure from the stronger local currency.
By 11.55am, the JSE all-share index had eased 0,11%, with resources losing 1,11%. Platinum miners were up 1,48% but gold counters lost 0,61%.
Banks edged down 0,46%, but financials collected 0,61% and industrials were up 0,84%.
The rand was last bid at 9,93 to the dollar from 9,97 when the JSE closed on Friday. Gold was quoted at $927,85/oz a troy ounce from $928,85/oz at the JSE’s last close, and platinum was at $1 064,50/oz from its previous close of $1 054,50/oz.
“The rand is really holding these resources back and they are weighing the bourse down,” a local equities trader said.
“Financials had a very good week last week, and it is not surprising to see some profit taking there.
“Dow futures have moved up from negative territory earlier, so there is a possibility that we could gain momentum and move up as the day progresses,” he said.
Among equity movers on the JSE, Anglo American was down R2,80, or 1,75%, to R157,20 and BHP Billiton lost R5,31 or 2,80%, to R184,35.
Petrochemicals group Sasol was up R1,92 to R260.
Gold miner AngloGold Ashanti was off R3,94, or 1,15%, to R338 and Harmony eased 68 cents to R110,32.
Anglo Platinum added R11,11, or 2,49%, to R457, but Lonmin weakened R6,50, or 3,49%, to R179,50.
African Rainbow put on R4,22, or 3,70%, to R118,42 and Exxaro was up 75 cents, or 1,17%, to R64,75.
Among industrials, brewer SABMiller firmed R3,39, or 2,51%, to R138,59, Barloworld gained 46 cents, or 1,48%, to R31,46 and British American Tobacco strengthened R5,29, or 2,28%, to R237,60.
Banker Nedbank lost R1,15, or 1,47%, to R77,15 and all the other banks were flat.
Financial services group Old Mutual put on 26 cents, or 4,67%, to R5,83, Investec was up 35 cents, or 1,04%, to R33,99 and African Bank collected 65 cents, or 2,78%, to R24,05.
Sugar group Tongaat-Hulett lost R1,45, or 1,92%, to R74,20.
Media group Naspers added R3,75, or 2,47%, to R155,75 while Caxton weakened 50 cents, or 4,55%, to R10,50.
Truworths was off 33 cents, or 1,08%, to R30,12 and New Clicks eased 16 cents, or 1,10%, to R14,45.
However, Pik n Pay was up 59 cents, or 1,91%, to R31,40, JD Group added R1, or 3,45%, to R30 and Shoprite gained R1,20, or 2,50%, to R49,21.
Liberty International put on R2,47, or 5,26%, to R49,47.
Gaming and entertainment group Gold Reef Resorts collected 10 cents to R17. It earlier announced a 69,8% increase in headline earnings
per share from 76,7 cents to 130,7 cents for the year ended December.
Construction group Group Five gave up 35 cents, or 1,18%, to R29,35 but Basil Read gained 50 cents, or 4,55%, to R11,50.
Telecommunications group MTN Group edged up 19 cents to R98,39 and Telkom gained 48 cents to R101,48. – I-Net Bridge