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Johannesburg - The JSE was modestly lower at noon on Friday as investors digested the latest Chinese inflation data and remained cautious ahead of the release of US consumer price index (CPI) figures.
Fears over the Chinese economy and inflationary pressures weighed on industrial metal shares, a fund manager said.
By 12:07 local time, the JSE All Share [JSE:J203] index was down 0.17%, with resources falling 0.57%, gold miners falling 0.61% and platinum counters shedding 0.23%. Banks lost 0.33% and financials eased 0.26%. Industrials rose 0.25%.
The rand was bid at R6.84 to the dollar from R6.85 at the JSE's close on Thursday. Gold was quoted at $1 473.81 a troy ounce from $1 468.64/oz at the JSE's previous close, while platinum was at $1 791.00/oz, from $1 779.00/oz previously.
The fund manager also said the market was cautious ahead of the release of CPI data in the US later today.
Dow Jones Newswires reported that European stocks were expected to open higher on Friday, taking their cue from a late bounce on Wall Street.
However, gains were expected to be fairly modest ahead of some key data releases and as traders digested Moody's downgrade of Ireland's bond ratings.
Capital Spreads called London's FTSE 100 index to open eight points higher at 5 972, Germany's DAX index up 13 points at 7 160 and Paris's CAC-40 index five points higher at 3 975.
Worries about inflation are likely to be in focus, after Chinese data overnight showed the consumer price index rose more than expected in March.
The CPI rose 5.4% from a year earlier in March, above the 4.9% rise in February. March's inflation rate was the fastest since July 2008. Economists had expected a 5.3% rise.
Inflation will remain in the spotlight on Friday, with eurozone harmonized CPI due at 09:00 GMT and US CPI scheduled for release at 12:30 GMT.
Also on the economic calendar, eurozone trade balance data is due out at 09:00 GMT, while in the US, the Empire State manufacturing survey is due out at 12:30 GMT, industrial production is due out at 13:15 GMT and University of Michigan confidence is due out at 13:55 GMT. Also in the US, first-quarter earnings season gets into full swing, with Bank of America and Mattel set to report.
Fears over the Chinese economy and inflationary pressures weighed on industrial metal shares, a fund manager said.
By 12:07 local time, the JSE All Share [JSE:J203] index was down 0.17%, with resources falling 0.57%, gold miners falling 0.61% and platinum counters shedding 0.23%. Banks lost 0.33% and financials eased 0.26%. Industrials rose 0.25%.
The rand was bid at R6.84 to the dollar from R6.85 at the JSE's close on Thursday. Gold was quoted at $1 473.81 a troy ounce from $1 468.64/oz at the JSE's previous close, while platinum was at $1 791.00/oz, from $1 779.00/oz previously.
The fund manager also said the market was cautious ahead of the release of CPI data in the US later today.
Dow Jones Newswires reported that European stocks were expected to open higher on Friday, taking their cue from a late bounce on Wall Street.
However, gains were expected to be fairly modest ahead of some key data releases and as traders digested Moody's downgrade of Ireland's bond ratings.
Capital Spreads called London's FTSE 100 index to open eight points higher at 5 972, Germany's DAX index up 13 points at 7 160 and Paris's CAC-40 index five points higher at 3 975.
Worries about inflation are likely to be in focus, after Chinese data overnight showed the consumer price index rose more than expected in March.
The CPI rose 5.4% from a year earlier in March, above the 4.9% rise in February. March's inflation rate was the fastest since July 2008. Economists had expected a 5.3% rise.
Inflation will remain in the spotlight on Friday, with eurozone harmonized CPI due at 09:00 GMT and US CPI scheduled for release at 12:30 GMT.
Also on the economic calendar, eurozone trade balance data is due out at 09:00 GMT, while in the US, the Empire State manufacturing survey is due out at 12:30 GMT, industrial production is due out at 13:15 GMT and University of Michigan confidence is due out at 13:55 GMT. Also in the US, first-quarter earnings season gets into full swing, with Bank of America and Mattel set to report.
