• Conflict over water, coal

    SA's leaders have upped their support of the water-intensive coal industry, says Keith Schneider.

  • Cost of doing business

    The world can't afford the $4.7trn a year in environmental costs of business, says Mandi Smallhorne.

  • Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

All data is delayed
See More

JSE lower across the board

Feb 12 2013 13:29
I-Net Bridge
Johannesburg - The JSE was down at midday on Tuesday with resources and banks being among the bigger losers as traders looked to consolidate.

“The market is generally quite mixed‚” said Ferdi Heyneke of Afrifocus. “There’s an underlying firm tone but we’re seeing some consolidation in some places.”

At 12:02 the All Share [JSE:J203] index was softer (-0.44%) at 40 654.26 points‚ with banks giving back 0.38% and resources down 0.51%. The JSE Top 40 - (Tradeable) [JSE:J200] was down almost half a percent to 36 232.85.

“The slide we’ve seen this morning doesn’t appear to be attached to anything specific‚” said Heyneke. “European markets are quite flat‚ but the rand has weakened again in the last couple of days.”

Retailers continued to lose some of their shine‚ with Shoprite (SHP) giving up 2.36% and Foshini (TFG) 1.90%. Mr Price gave up 2.04% since the start of trade on Tuesday.

“Retailers have seen very strong runs but now we’re seeing them fall off a bit. There has also been a bit of volatility in some of retails such as Shoprite.”

In comparison‚ industrials such as Bidvest (0.18%) and Richmont (0.31%) appear to be holding up quite well.

Heyneke said that results coming in have been more or less within expectations. “Although expectations have been negative but markets have been aware of that. Anglo will be a big one when it comes in‚” he said.

Hudaco (HDC) shares were down 7.30% at midday on news that the South African Revenue Services had made tax claims on certain aspects flowing from the implementation of the company’s black economic empowerment (BEE) structure.

RMB said in a note earlier today that conditions should remain much the same today given the lack of any major data. “President Obama’s state of the nation address will receive a lot of attention overnight‚” they said.

European markets were mixed today with the UK’s FTSE 100 up 0.16% to 6287.06 and the Paris CAC flat (0.02%).

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

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

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

Voting Booth

The upcoming petrol price hike is:

Previous results · Suggest a vote