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Johannesburg - The JSE was flat early on Wednesday afternoon‚ showing a muted response to the weaker-than-expected CPI print and the announcement that the repo rate would stay unchanged at 5%‚ as expected.
SA’s consumer inflation rate rose to 5.9% year on year in February‚ after measuring 5.4% year on year in January‚ Statistics SA announced earlier this morning ‚ while the SA Reserve Bank left the repo rate unchanged.
At 13:05 the JSE All Share [JSE:J203] was flat (-0.01%) at 40 343 points and the Top 40 - (Tradeable) [JSE:J200] index also little moved (-0.4%).
Miners weighed‚ with resource‚ platinums and gold minign stocks giving back 0.90%‚ 0.78% and 0.74% respectively‚ while general retailers were a feature‚ lifting 1.31%.
“The big news today is the liquidity effect of the March first quarter futures contracts that closed out at noon‚ with R11bn of total value traded on the JSE attributed to the futures close-out‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.
Meanwhile US stocks look to open higher later today after US futures shook off some lingering Cyprus worries and rose on Wednesday ahead of the outcome of a Federal Reserve meeting and news conference from Chairman Ben Bernanke‚ Dow Jones Newswires reported.
Investors are hoping for a tepid economic outlook from the Fed and no signs that the central bank will ease up on its easy-money policy. But they will still be looking eastward for news on Cyprus‚ where a day prior the parliament rejected a controversial bailout deal.
On the JSE‚ Bidvest (BVT) added 2.23% to R241.50 and Imperial (IPL) gained 2.12% to R200.36.
Miners Gold One International (GDO) gave back 3.85% to R2.50 and Lonmin (LON) shed 4.12% to R42.07.
Among retailers the Foschini Group (TFG) gained 2.15% to R114.10 and Mr Price (MPC) was 1.72% firmer at R117.74.
SA’s consumer inflation rate rose to 5.9% year on year in February‚ after measuring 5.4% year on year in January‚ Statistics SA announced earlier this morning ‚ while the SA Reserve Bank left the repo rate unchanged.
At 13:05 the JSE All Share [JSE:J203] was flat (-0.01%) at 40 343 points and the Top 40 - (Tradeable) [JSE:J200] index also little moved (-0.4%).
Miners weighed‚ with resource‚ platinums and gold minign stocks giving back 0.90%‚ 0.78% and 0.74% respectively‚ while general retailers were a feature‚ lifting 1.31%.
“The big news today is the liquidity effect of the March first quarter futures contracts that closed out at noon‚ with R11bn of total value traded on the JSE attributed to the futures close-out‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.
Meanwhile US stocks look to open higher later today after US futures shook off some lingering Cyprus worries and rose on Wednesday ahead of the outcome of a Federal Reserve meeting and news conference from Chairman Ben Bernanke‚ Dow Jones Newswires reported.
Investors are hoping for a tepid economic outlook from the Fed and no signs that the central bank will ease up on its easy-money policy. But they will still be looking eastward for news on Cyprus‚ where a day prior the parliament rejected a controversial bailout deal.
On the JSE‚ Bidvest (BVT) added 2.23% to R241.50 and Imperial (IPL) gained 2.12% to R200.36.
Miners Gold One International (GDO) gave back 3.85% to R2.50 and Lonmin (LON) shed 4.12% to R42.07.
Among retailers the Foschini Group (TFG) gained 2.15% to R114.10 and Mr Price (MPC) was 1.72% firmer at R117.74.
