Johannesburg - The gold and industrials indices boosted the
JSE’s recovery at noon from earlier losses‚ while platinum stocks extended
At 12:29pm‚ the JSE All Share [JSE:J203] index was flat
(0.04%) at 37‚171.84 points. Gold counters continued Wednesday’s run lifting a
further 1.33%‚ after having slid more than 4% last month and industrials gained
0.43%. Platinums shed 1.70%‚ as the illegal strike continues at Anglo Platinum
[JSE:AMS]‚ the world’s largest producer of the metal.
The recovery in Chinese manufacturing activity for October
provided little support for the resources sector. “The markets would like to
see a broad-based recovery to take hold. Up until now‚ we had mixed economic
data out of China and the US‚” said Mohammed Nalla‚ analyst at Nedbank Capital.
The HSBC China Manufacturing Purchasing Managers Index rose
to a final reading of 49.5 in October from 47.9 in September.
A reading above 50 indicates expansion‚ while a reading
below 50 suggests contraction.
Elsewhere‚ major European shares were slightly higher‚ with
London’s FTSE 100 gaining 0.18% by 12:14pm local time.