• FULL mini budget speech

    Read the full mini budget speech delivered by Finance Minister Pravin Gordhan.

  • #FeesMustFall reporting

    What are the real issues and whose voices are being suppressed by social media, asks Solly Moeng.

  • Matchmaker businesses

    Multisided platforms can create huge value for society and fortunes for entrepreneurs, says Ian Mann.

All data is delayed
See More

JSE flat in quiet trade

Dec 13 2012 14:25
I-Net Bridge
Johannesburg – The JSE was flat (-0.03%) at noon‚ despite the US Federal Reserve chairman Ben Bernanke’s decision on Wednesday to go ahead with further monetary easing.

Some market participants‚ however‚ fear that this might come to an end earlier than expected.

The Fed will now snap up $40bn a month of mortgage-backed securities and $45bn worth of bonds‚ meaning that the Fed has switched the expiring US$45bn operation twist into an expanded QE3.

At 12.57‚ the JSE all share [JSE:J203] index was flat (-0.03%) at 38 752.68 points‚ with gold miners posting the biggest gains (0.68%)‚ while resources gave a little back (-0.53%) after a good run this week.

Leading European bourses were trading in negative territory with the UK FTSE 100 seen 0.26% softer at 12.27 local time.

“The US Fed gave us more money earlier than expected‚ but the gold price has dropped quite significantly‚ losing more than 1% today‚ which is quite strange. Bernanke has linked QE with the US inflation rate and US unemployment rate. The desired US inflation and unemployment levels might be reached quicker than thought‚ and then QE3 will be stropped‚ and that is probably why world markets are trading lower‚” a local trader said.

At 12.57 the gold price was seen trading 0.75% softer at $1 695.95 per fine ounce from $1 708.73 on Wednesday.

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
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

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote