Johannesburg - The local bourse was trading in the red on
Friday morning‚ with platinum and gold counters showing a bit of upside‚ after
the gold and resources gauges led the JSE rally on Thursday due to stronger
The US fiscal cliff negotiations continue to be the global
focus point determining market sentiment.
At 9:14pm‚ the All Share [JSE:J203] index was flat (-0.08%)
at 37‚878.71 points‚ with the Top 40 - (Tradeable) [JSE:J200] index slipping
0.11%. The platinum and gold mining gauges were up 0.40% and 0.18%
Eastern markets were trading in positive territory with the
Japanese Nikkei 225 closing 0.48% higher and the Hang Seng index 0.62% higher
in late trade in Hong Kong.
On the local front the October trade data number is out at
2pm on Friday.
“We expect a record deficit in excess of R20bn - shocking to
say the least. The terrible figure is partly a result of seasonal effects and
the mining strikes. Our trade position is poor‚ but not as bad as the number is
likely to suggest. November’s number will certainly be much better‚” Rand
Merchant Bank said in a morning note.
“The trade number should theoretically be in the price but
the market could still react with surprise. Further risks come from numerous‚
mostly second-tier‚ global data releases. The German parliament is expected to
approve the latest Greek deal today. Chinese PMI figures will be out tomorrow‚”