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Johannesburg - Without direction from the American markets, which were closed on Monday for a public holiday, the JSE lacked direction on Tuesday morning.
The Asian markets were also mixed on Tuesday morning and a similar pattern emerged at the JSE where the All Share index was slightly down by midday, but resources were higher.
Analysts said the market is taking a breather after a strong run the last two weeks and while investors are waiting for new economic data.
By midday the All Share index was 0.27% lower at 46 902, while the Top 40 index, which reached a new record on Monday, traded 0.27% lower at 42 362.
The resources index was initially higher, supported by BHP Billiton’s strong and better than expected results, but by midday it traded only 0.2% stronger.
The gold sector was under pressure following a drop in the bullion price on Monday.
At midday gold was trading at $1 318.804 an ounce from Monday’s close of $1 328.26.
Imara SP Reid warned investors in its daily market watch to be slightly cautious as the overall index is relatively elevated in the short term.
The rand also slipped against the dollar on Tuesday, down from its firmest levels in nearly a month.
The rand was at R10.87 at midday, down from Monday's New York close of R10.8200/$, which was the currency's best showing since the end of January.
This week the market’s attention is on local consumer inflation figures due tomorrow and Chinese PMI data on Thursday.
The inflation figures will be a good indication of what will happen with interest rates in future.
Among individual shares on the JSE‚ BHP Billiton initially climbed with more than 2%, after reporting a 82.9% rise in attributable profit to US$8.1bn for the six months ended December 2013.
By midday the share price was 337c or 0.97% stronger on R349.69.
Gold Fields was the biggest loser in the gold sector‚ falling 2.56% to R43.80, Harmony was 1.14% lower on R34.80.
The Asian markets were also mixed on Tuesday morning and a similar pattern emerged at the JSE where the All Share index was slightly down by midday, but resources were higher.
Analysts said the market is taking a breather after a strong run the last two weeks and while investors are waiting for new economic data.
By midday the All Share index was 0.27% lower at 46 902, while the Top 40 index, which reached a new record on Monday, traded 0.27% lower at 42 362.
The resources index was initially higher, supported by BHP Billiton’s strong and better than expected results, but by midday it traded only 0.2% stronger.
The gold sector was under pressure following a drop in the bullion price on Monday.
At midday gold was trading at $1 318.804 an ounce from Monday’s close of $1 328.26.
Imara SP Reid warned investors in its daily market watch to be slightly cautious as the overall index is relatively elevated in the short term.
The rand also slipped against the dollar on Tuesday, down from its firmest levels in nearly a month.
The rand was at R10.87 at midday, down from Monday's New York close of R10.8200/$, which was the currency's best showing since the end of January.
This week the market’s attention is on local consumer inflation figures due tomorrow and Chinese PMI data on Thursday.
The inflation figures will be a good indication of what will happen with interest rates in future.
Among individual shares on the JSE‚ BHP Billiton initially climbed with more than 2%, after reporting a 82.9% rise in attributable profit to US$8.1bn for the six months ended December 2013.
By midday the share price was 337c or 0.97% stronger on R349.69.
Gold Fields was the biggest loser in the gold sector‚ falling 2.56% to R43.80, Harmony was 1.14% lower on R34.80.
