All data is delayed
See More

JSE flat in lacklustre trade

Feb 11 2013 14:39
I-Net Bridge
Johannesburg - The JSE remained flat at midday on Monday in low volume trade‚ following yet another lifetime peak on Friday.

News flow lacked the impetus to either push markets higher or reverse recent gains‚ with most Asian stock market indices shut for public holidays.

At 12:44 the All Share [JSE:J203] index was flat (0.03%) at 40 906.70 but the platinum index dropped 1.26% weighed on mostly by Impala Platinum (IMP‚ Implats) following its trading update.

“I don’t foresee any major market moves today. With no economic releases of note‚ I expect the market to bubble along‚” said David Shapiro‚ director at Sasfin Securities. 
“But fundamentally people are still moving into equities. It is not the kind of environment in which we are likely to see massive correction from current levels. If anything‚ it will be sideways movement.”

The All Share index is up just over 3% in the year to date following a 22% gain last year.

Leading European markets were marginally higher‚ with UK’s FTSE 100 gaining 0.29% at 12:00.

On the JSE‚ Implats was down 2.06% to R161.75 after the world’s second largest platinum producer said its earnings were expected to fall by more than two thirds in the six months to December‚ while smaller rival Aquarius Platinum (AQP) fell 4.90% to R9.51.

Gold Fields (GFI) was down 12.67% to R92.40 after the separate listing of its South African mining assets following the unbundling late last year.

ArcelorMittal SA (ACL) was down 4.11% to R34.06‚ while Nedbank (NED) was up 1.93% to R193.79.

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

markets; jse



Read Fin24’s Comments Policy 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
Comments have been closed for this article.

Company Snapshot

We're talking about:


With infrastructure spending having been identified as one of the key focus areas of the National Development Plan, tradesmen will continue to play a critical role in growing the South African economy through their skills..

Money Clinic

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

Voting Booth

A 30% a month return on investment is:

Previous results · Suggest a vote