After reaching a new closing high on Friday, the JSE lost ground at the opening on Monday in line with its global counterparts. Dealers said that uncertainty about the United States economy as well as Thursday’s interest rate decision locally are weighing on the bourse.

The rand came under pressure on Thursday afternoon on news that South Africa recorded a record trade deficit for October, bringing concerns of structural imbalances back to the fore. South Africa recorded a deficit of R12,943-billion for its trade with non-Southern African Customs Union trading partners in October, according to customs and excise figures released on Thursday.

The JSE remained in positive territory in noon trade on Thursday, having benefited from stronger world markets overnight. The market was fairly quiet with value traded failing to top the R2-billion mark. By 12.03pm, the all-share index added 0,6%. Resources rose 3,25%, the platinum-mining index jumped 3,25% and the gold-mining index gained 0,63%.

The JSE was marginally weaker in noon trade on Friday as negative European markets, on which heavyweight dual-listed stocks were down, took their toll. Losses locally were pared by a weaker rand and higher gold price. By 12.14pm, the all share index dipped 0,11%.

Positive sentiment towards equities took the JSE onto higher ground on Wednesday, with a lot of the buying coming from offshore. Platinum shares were under pressure, however, after the platinum price spiralled down to earth with a thud after rocketing to a record high on Tuesday.

Platinum stocks were setting the pace on the JSE just after noon on Tuesday after renewed talk of a platinum exchange-traded fund sent the metal to a record high. However, a stronger rand kept a bit of a lid on the local bourse. Platinum was last quoted at $1 390/oz from $1 249,50/oz when the JSE closed on Monday. It earlier touched a record high of $1 415,50/oz.

The JSE was looking to snap its three-day losing streak on Monday with a recovery in precious-metals prices lifting resources stocks. News was a little on the sparse side and dealers said that the market was quiet. By 11.48am, the all-share index added 0,65%. Resources rallied 1,51%, the platinum-mining index surged 4,04% and the gold-mining index jumped 2,82%.

The JSE was just managing to keep its head above water in noon trade on Wednesday after a choppy morning’s trade on which stronger world markets and lower precious metals prices vied for supremacy. By 12.03pm, the all-share index was up 0,08%. Industrials and financials climbed 0,29% and 0,47% respectively, but the banks index lost 0,51%.

After losing ground on Monday, the JSE was chugging along nicely in noon trade on Tuesday, driven by positive global markets. Advancers outnumbered decliners on the all-share index by more than two to one. By 12.02pm, the all-share and all-share indices had added 0,32% and 0,87% respectively.

A rally in precious metals provided the spark to take the JSE higher on Friday morning. However, profit-taking prevented the market from firing on all cylinders and the advance resembled more of a Sunday drive than a grand prix. By 11.58am, the all-share index added 0,36%.