The JSE fell into negative territory by noon on Tuesday, moving in line with frail European markets in what a trader said was profit taking with the market attempting to consolidate after its recent big moves.
By 12.04pm, the JSE all-share index had edged down 0,41%, with resources easing 0,18%.
Platinum miners weakened 0,36% and gold counters lost 1,15%.
Banks were down 1,01%, financials weakened 0,24% and industrials gave up 0,78%.
The rand was last bid at 9,91 to the dollar from 9,93 when the JSE closed on Monday. Gold was quoted at $920,60/oz a troy ounce from $923,20/oz at the JSE’s last close, and platinum was at $1 053/oz from its previous close of $1 055/oz.
“We are seeing a bit of waiting ahead of the futures close-out on Thursday. I do believe that we can still get going again. We can still move to the upside provided international markets hold,” said a local equities trader.
“There has been value in the market and the moves have been quick and big, and now we will see the market stall a bit,” said the dealer.
Among equity movers on the JSE, Anglo American edged up 21 cents to R159,39 while BHP Billiton gave up 81 cents to R183.
Petrochemicals group Sasol gained R3,46, or 1,32%, to R266,15.
Gold miner AngloGold Ashanti was down R4,01, or 1,19%, to R333, Gold Fields gave up R1,80, or 1,47%, to R121 and Harmony eased 49 cents to R113,50.
Platinum miner Angloplat lost R9, or 1,96%, to R451 but Lonmin added R7, or 3,91%, to R186.
In diversified miners, African Rainbow was up R2,20, or 1,82%, to R123.
Among industrials on the JSE, brewer SABMiller edged down 89 cents to R137,11, Imperial was off 69 cents, or 1,52%, to R44,81 and British American Tobacco fell R3,25, or 1,38%, to R231,75, but Tiger Brands collected R1,75, or 1,39%, to R127,55.
Standard Bank was down R1,14, or 1,48%, to R75,85, Nedbank weakened 93 cents, or 1,21%, to R76 and Absa lost R1,83, or 2,03%, to R88,17.
Among retailers, Truworths weakened 56 cents, or 1,89%, to R29, Pick n Pay gave up 40 cents, or 1,29%, to R30,50 and Spar weakened 61 cents, or 1,17%, to R51,51.
However, Massmart was up R1,68, or 2,65%, to R64,99.
Construction group Aveng shed 27 cents, or 1%, to R26,63, Group Five was down 50 cents, or 1,69%, to R29 and Murray & Roberts gave up 85 cents, or 2,13%, to R39,10.
Buildings materials supplier Cashbuild was up 50 cents to R53,50. It earlier announced that its interim diluted headline earnings per share for the period ended December 31 2008 were at 490,6 cents, up 42% from the 346.5 cents reported the previous year. Group revenue at R2,573-billion, up 28% from the R2,011-billion reported in 2007.
The group said the board had declared an interim dividend of 143 cents per ordinary share to all shareholders of Cashbuild
Operating profit at R155-million was up 39% from the R111-million reported for the previous comparable period.
Cement manufacturer Pretoria Portland Cement was up 38 cents, or 1,31%, to R29,38.
MTN gave up R2,54, or 2,57%, to R96,41and Telkom eased 85 cents to R99,97. – I-Net Bridge