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Johannesburg - I-Net Bridge The JSE began the day
directionless on Thursday, as investors awaited data in overseas markets.
A local trader said that the market was looking very quiet
this morning with little news to sway trade.
At 09:12 local time, the JSE All Share [JSE:J203] index was
virtually unchanged (0.01%). Platinums lifted 0.32%, gold stocks took up 0.29%
and resources edged up 0.10%.
Banks collected 0.13%, and financials rose 0.12 while
industrials declined 0.11%.
The rand was bid at R8.08 to the dollar from R8.15 at the
JSE's close on Wednesday. Gold traded at $1 646.02 a troy ounce from $1 635.25
at the JSE's previous close, while platinum was quoted at $1 502.50/oz, from $1
481.50/oz at the previous close.
Dow Jones Newswires reported that Asian stock markets were
mostly lower on Thursday, as easing inflation in China failed to overcome
worries over fresh stresses in Europe's economy.
China's consumer price index rose 4.1% year on year in
December, slower than the 4.2% in November. Economists polled by Dow Jones
Newswires had forecast a median 4.0%.
The fifth straight month of moderating inflation gives
Beijing more room to implement easing measures, but analysts say the
authorities are still likely to move cautiously in applying stimulus to the
economy.
Market participants expect the European Central Bank to keep
interest rates on hold at its first meeting of the new year, and see ECB
President Mario Draghi as damping expectations for a major debt purchasing
program over the coming months.
The US economy improved across all regions in the final six
weeks of 2011, boosted by strong holiday sales, the US Federal Reserve said in
a report on Wednesday.
But the Fed's studies of regional economies, known as the
"beige book," showed that persistent weakness in housing kept a lid
on growth in most areas, while inflation pressure was broadly limited, leaving
the door open for more central bank stimulus.
European stock markets may nudge higher to start, with bunds and gilts mixed. The euro and oil futures are a bit higher, with spot gold barely changed.
