Share

JSE flat amid consolidation

Johannesburg - The JSE lacked direction on Tuesday in the absence of fresh catalysts‚ while construction stocks remained under pressure amid an investigation of alleged collusion in the industry.

At 12:45‚ the All Share [JSE:J203] index was flat (0.02%) at 40 578.98 points‚ with the banking index lifting 1.22%.

“After the tremendous run in the year to date‚ the market is in a consolidation phase. Uncertain political landscape in Europe has provided an excuse for some to take profits off the table‚” said Ryan Wibberley‚ equity dealer‚ Investec Asset Management.

The All Share index‚ however‚ remains in record territory after gaining more than 3% last month.

European markets were trying to gain direction following a resurgence of eurozone fears after comments made by the French Finance minister that the euro is overvalued‚ and political uncertainty in Spain and Italy.

At 12:29 London’s FTSE 100 was up 0.34%‚ while the US stock futures pointed to a flat opening on Wall Street later in the day.

On the JSE‚ Northam Platinum (NHM) gave back 0.89% to R39 after the platinum miner said on Tuesday that its earnings and headline earnings per share for the six months ended December last year are estimated to be between 30% and 45% lower than in the previous comparable period.

Impala Platinum (IMP) shed 2.25% to R165.20‚ Aquarius Platinum (AQP) lost 2.65% to R9.20 and BHP Billiton (BIL) was down 1.18% to R303.18.

Among banks‚ Nedbank (NED) lifted 1.93% to R192.14‚ Absa (ASA) improved 1.50% to R171.72 and FirstRand (FSR) gained 1.54% to R31.67.

Among construction stocks‚ Group Five (GRF) was down 1.48% to R30.05 and PPC (PPC) shed 1.78% to R32.03
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.00
-0.5%
Rand - Pound
23.95
-0.2%
Rand - Euro
20.50
-0.2%
Rand - Aus dollar
12.35
+0.0%
Rand - Yen
0.13
-0.5%
Platinum
895.30
-0.2%
Palladium
991.47
-1.0%
Gold
2,193.25
-0.1%
Silver
24.44
-0.8%
Brent Crude
86.09
-0.2%
Top 40
67,836
+0.2%
All Share
74,046
+0.2%
Resource 10
56,127
+0.8%
Industrial 25
103,468
+0.2%
Financial 15
16,484
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders