In partnership with
All data is delayed
See More

JSE flat in muted trading

Jul 18 2012 10:36
I-Net Bridge

Johannesburg - The JSE was flat at the opening session on Wednesday‚ struggling for direction in the absence of fresh macroeconomic data.

At 09:21 local time‚ the JSE All Share [JSE:J203] index was flat (0.01%) at 33‚710.67 points‚ with resources losing 0.31%‚ platinum shares shedding 0.36% and gold counters slipping 0.09%.

Financials edged up 0.14%‚ with banking stocks and industrials both also 0.14% in the black.

The rand was trading at R8.17 to the US dollar‚ from R8.22 at the JSE’s close on Tuesday‚ while gold changed hands at $1 582.30 a troy ounce from $1 576.15/oz at the JSE’s previous close and platinum was quoted at $1 417.50/oz‚ from $1 411.70/oz previously.

“The US corporate earnings data so far has been pretty mixed‚” said Drikus Combrinck‚ portfolio manager at PSG Konsult. “The market response to BHP Billiton’s production numbers was fairly muted because of demand worries from China.”

Leading European share markets opened slightly higher‚ with London’s FTSE 100 up 0.32%.

In his testimony to the US Congress‚ Federal Reserve chairperson Ben Bernanke gave a rather grim assessment of the US economy‚ though he stopped short of announcing any intention for a third round of quantitative easing - known as QE3‚ Dow Jones Newswires reported.

In Asia‚ stock markets were mostly lower‚ with Japan’s Nikkei average ending the session up 0.32%‚ while the Hang Seng index was up 1.18% by 09:21 SA time.

jse  |  markets



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

Money Clinic

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

Voting Booth

WhatsApp group admins in SA could face jail time their jobs

Previous results · Suggest a vote