Publications
Partners
Johannesburg - The JSE remained sluggish as little activity economically resulted in little change in noon trade.
A local trader said that nothing much was happening in the way of trade. There has been no real news over this holiday period and thus investors are still operating with Europe's concerns in mind.
Investors are also monitoring the dollar-euro level.
At 12:11 local time, the JSE All Share [JSE:J203] index continued in flat territory (-0.04%), with gold shares making the largest move, down 2.49%. Platinums declined 0.44% and resources lessened 0.22%.
Industrials elevated 0.21%, while banks and financials stood relatively still at 0.09% and -0.08% respectively.
The rand was bid at 8.11 to the dollar from 8.17 at the JSE's close on Friday. Gold traded at $1 583.10 a troy ounce from $1 612.13 at the JSE's previous close, while platinum was quoted at $1 408.50/oz, from $1 437.50/oz at the previous close.
The trader said the gold price had been under quite a bit of pressure. There was a concern that gold was losing its lustre. "Trade has become a bit overcrowded and there is some worry that it is losing its safe haven status."
Dow Jones Newswires reported that European stock markets traded marginally lower on Wednesday, following worse-than-expected economic data from Japan.
Data from Japan early on Wednesday knocked confidence in Asian markets following surprisingly large declines in household spending and retail sales. Japan's Nikkei 225 index closed 0.34% lower, while Hong Kong's Hang Seng Index fell 0.59%.
Trading volume remains thin following the Christmas break and the runup to the end of the year holiday. There are no major economic data due for release on Wednesday.
A local trader said that nothing much was happening in the way of trade. There has been no real news over this holiday period and thus investors are still operating with Europe's concerns in mind.
Investors are also monitoring the dollar-euro level.
At 12:11 local time, the JSE All Share [JSE:J203] index continued in flat territory (-0.04%), with gold shares making the largest move, down 2.49%. Platinums declined 0.44% and resources lessened 0.22%.
Industrials elevated 0.21%, while banks and financials stood relatively still at 0.09% and -0.08% respectively.
The rand was bid at 8.11 to the dollar from 8.17 at the JSE's close on Friday. Gold traded at $1 583.10 a troy ounce from $1 612.13 at the JSE's previous close, while platinum was quoted at $1 408.50/oz, from $1 437.50/oz at the previous close.
The trader said the gold price had been under quite a bit of pressure. There was a concern that gold was losing its lustre. "Trade has become a bit overcrowded and there is some worry that it is losing its safe haven status."
Dow Jones Newswires reported that European stock markets traded marginally lower on Wednesday, following worse-than-expected economic data from Japan.
Data from Japan early on Wednesday knocked confidence in Asian markets following surprisingly large declines in household spending and retail sales. Japan's Nikkei 225 index closed 0.34% lower, while Hong Kong's Hang Seng Index fell 0.59%.
Trading volume remains thin following the Christmas break and the runup to the end of the year holiday. There are no major economic data due for release on Wednesday.
