• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

JSE flat as banks weigh

Jan 15 2013 14:22 I-Net Bridge


Related Articles

Platinums give JSE a boost

Industrials‚ platinums weigh on JSE

Top 40 index hits another record

JSE slightly weaker on consolidation

JSE drifts lower as banks weigh

JSE flat at noon‚ platinums drag

 
Johannesburg – The JSE was flat at noon‚ with a rally in the platinum sector offset by a continued heavy sell-off in retail shares and banks.

At 12:35‚ the All Share [JSE:J203] index was flat (0.04%) at 40 160.52 points‚ with the Top 40 - (Tradeable) [JSE:J200] index edging up 0.18% to 35 736.65‚ while the platinum index lifted 1.72% but banks lost 1.08%.

“The retail sector has been extended and expensive for some time. The sharp sell-off in the retail sector could be the function of sectoral rotatation where money is finding its way into the resources sector‚” said Mohammed Nalla‚ head of strategic research at Nedbank Capital.

The platinum spot price surged to a three-month intraday high on Tuesday‚ pushing the JSE platinum stock index to a nine-month high‚ amid potential supply constraints after Anglo American Platinum said it was putting four shafts at its Rustenburg complex onto care and maintenance.

Elsewhere‚ leading European shares were fairly mixed at noon‚ with London’s FTSE 100 slipping flat (0.05%.).

Among individual shares on the JSE‚ Anglo American (AGL) was up 1.05% to R289‚ Impala Platinum garnered 1.41% to R172.09‚ Lomnin jumped 5.38% and Aquarius Platinum (AQP) lifted 6.01% to R9.70.

Bidvest (BVT)‚ however‚ shed 1.28% to R213.28.

Among retail stocks‚ The Foschini Group (TFG) shed 4.96% to R124.72‚ Shoprite (SHP) was down 2.13% to R45.02‚ Pick n Pay lost 2.13% to R45.02 and Mr Price (MPC) lost R126.50

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

jse  |  markets

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Business tips from the world’s billionaires

We share some of the world's most successful people's greatest tips and who knows, this might just lead you to your first million!

 
 

Luxury living

5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!
What to expect inside a royal nursery

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...