Johannesburg - The JSE was flat in early trade on Wednesday,
continuing sluggish trade from Tuesday, but looking to US futures, which were
pointing slightly firmer.
A local trader said there was more news out today including
industrial production from Europe and mortgage application data from the US
that may give more direction during the course of the day.
At 09:16 local time, the All Share [JSE:J203] index was
static (0.03%). Platinums secured 0.41% but gold shares declined 1.42% and
resources lost 0.21%.
Industrials edged 0.18% higher, financials lifted 0.12% and
banks were flat (0.02%).
The rand had weakened at R8.31 to the dollar, from R8.19 at
the JSE's close on Tuesday. Gold traded at $1 639.58 a troy ounce from $1
671.70/oz at the JSE's previous close, while platinum was quoted at $1
480.50/oz, from $1 498.20/oz at the previous close.
Dow Jones Newswires reported that Asian stock markets came
off their lows in choppy trade on Wednesday, while regional exporters
underperformed amid a gloomy global growth outlook as investors found little
inspiration from the US Federal Reserve's policy meeting.
Senior European officials said on Tuesday that it could be
difficult to convert last week's summit accord for tougher budget discipline
among eurozone governments into a watertight legal pact, emphasising the
agreement's path to fruition could be tough.
Amid the concerns about implementation of the EU's plans,
stock markets may start lower on Wednesday, with investors turning to bunds and