Johannesburg – The JSE was in negative territory in late morning trade with all the indices showing losses. Gold mining stocks were hardest hit amid consolidation and profit taking in the market after some recent good runs.
At 11:09‚ the All Share [JSE:J203] index was down 0.39% at 40 381.05 points‚ with the gold mining index down 1.47% and resources shedding 0.51%.
Asian markets were mixed‚ with the Japanese Nikkei closing down 0.94%‚ while in Hong Kong the Hang Seng closed 0.39% higher.
Investors are watching out for Thursday’s December local trade figures.
“Given the negative sentiment towards the rand‚ a negative surprise will have a pronounced impact‚” Rand Merchant Bank said in a morning note. “We expect a decline in the deficit and think there is scope for a positive surprise given that December usually prints a surplus.
“It is a key week on the global data front. Focus will be on the US. Thursday’s gross domestic product (GDP) data will show us how the economy ended last year‚ while Friday’s nonfarm payrolls and Institute for Supply Management data will give us the first real indication of how it started the new year.
“Wednesday’s (US Federal Reserve) policy announcement is not expected to generate any surprises.
“The local data calendar is also busy after a testing week ... the last of the main December macro indicators are scheduled for release‚” RMB said.
Among individual stocks on the JSE‚ Anglo American (AGL) gave back 0.59% to R264.83 and Harmony shed 3.24% to R62.17. AngloGold Ashanti (ANG) dipped 1.02% to R248.84 and Gold Fields (GFI) was down 1.44% to R105.46.
Coal of Africa (CZA) gained 2.24% to R3.19 and insurer Santam (SNT) jumped 3.02% to R186.99.
Construction company Group Five (GRF) added 1.59% to R32 after saying in a trading update on Monday that fully diluted headline earnings per share for the six months ended December are expected to be between 10%-20% higher.
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