The JSE remained in the red at midday on Thursday amid lower commodities prices, but was off its earlier worst levels as the weaker rand limited losses on the local bourse, traders said. By 11.50am the all share index was off 0,24% as resources shed 0,30%, the gold mining index fell 0,88% and the platinum mining index retreated 1,61%.

The JSE was at a fresh all-time high at noon on Wednesday, boosted by gains in resources as the bullion price moved through the $670 per ounce level. Several resources counters reached lifetime or long-term highs. By 11.47am, the all-share index was up 1% as resources climbed 1,96%, the gold-mining index jumped 2,02% and the platinum-mining index gained 1,50%.

After opening firmer on Thursday morning, the JSE was in negative territory by midday. Traders said there was some profit-taking, but volumes were on the thin side as many players have already left for the long weekend. There was little fresh corporate news, so players will turn to global markets, the rand and commodity prices for direction.

The JSE managed to cling onto its gains by midday on Monday in what traders described as an "unexciting" session. Commodities prices were the main feature on a day that otherwise lacked any market-moving news. By 11.55am, the all-share index had gained 0,19%, while the all-share industrial index declined 0,31%. Resources rose 0,9%, with the gold-mining index gaining 2,66%.

The JSE reversed its earlier losses by midday on Friday and was trading in the black, helped by gains in the resources and platinum-mining indices. By noon, the all-share index was up 0,78%, while the all-share industrials were 0,54% higher. Resources added 1,03% and the platinum-mining index was 1,35% better.

The JSE’s all share index was in the red at midday on Friday despite the weaker rand and mostly higher European markets. There was little corporate news on Friday to give the market direction. Traders were at a loss to explain the weakness, attributing it to selling ahead of the weekend after a good week on the local bourse.

After being pushed up hard towards the close on Thursday, the JSE started Friday in negative territory and remained lower at midday. Both a stronger rand and weaker world markets were weighing on the local bourse. By noon, the all-share index had shed 0,66%, led lower by a 1,39% decline in resources and a 1,44% fall in the gold-mining index.

Commodity stocks continued to be in vogue on Tuesday, pulling the JSE higher during the morning session. Gold and platinum stocks continued to find favour amid rampant precious metals prices, traders said. By 12.07pm, the all-share index was up 1,13%.

South Africa has improved its score on the Heritage Foundation’s 2006 Index of Economic Freedom from 2,83 to 2,74, although globally its position has slipped slightly from 48th in 2005 to 50th. For the sub-Saharan African region, Botswana has the freest economy, with a score of 2,29 and an overall global ranking of 30.

In what is being hailed as a groundbreaking black economic empowerment (BEE) to BEE deal, South Africa’s Mvela Group is to sell its 22,9% stake in Mvela Resources to unlisted resources empowerment company Incwala Resources for R763-million — or R20 per share.