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Johannesburg - The JSE remained little changed at noon on Wednesday as the weakness in resources, led by BHP Billiton [JSE:BIL], was offset by gold counters and dual-listed stocks.
The market is disappointed by BHP Billiton's interim dividend, sparking a sell-off in the share price and this weighed on other resource counters, said Andrew Todd, a trader at Imara SP Reid.
By 12:01 local time, the JSE all-share index was flat (0.03%), with platinum miners higher at 0.48% and gold counters rising 1.60%. But resources fell 0.57%. Banks rose 0.20%, financials gained 0.52% and industrials were up 0.43%.
The rand was trading at 7.29 to the dollar from 7.27 at the JSE's close on Tuesday. Gold was quoted at US$1 376.90 a troy ounce from US$1 373.30/oz at the JSE's previous close, while platinum was at $1 837.70/oz from $1 840.50/oz before.
"But dual-listed stocks like Richemont (CFR) and SABMiller [JSE:SAB] propped up the market," Todd said.
Dow Jones Newswires reported that European stocks rose on Wednesday, with banks leading the advance, as investors prepared for another data-heavy session.
By 08:55 GMT, the Stoxx Europe 600 index was up 0.4% at 290.72. London's FTSE 100 was up 0.5% at 6 066.92, Frankfurt's DAX added 0.3% to 7 424.13 and Paris's CAC-40 was 0.9% higher at 4 146.87.
In Asia, share markets ended mixed on Wednesday, with exporters in Tokyo rising on the yen's weakness while shares in China rose as the latest inflation data tempered concerns about further aggressive tightening of monetary policy from Beijing.
Japan's Nikkei Stock Average closed up 0.6%, Australia's S&P/ASX 200 was flat, South Korea's Kospi Composite was down 1.1%, China's Shanghai Composite Index gained 0.2% and Hong Kong's Hang Seng Index was 1.1% higher.
The market is disappointed by BHP Billiton's interim dividend, sparking a sell-off in the share price and this weighed on other resource counters, said Andrew Todd, a trader at Imara SP Reid.
By 12:01 local time, the JSE all-share index was flat (0.03%), with platinum miners higher at 0.48% and gold counters rising 1.60%. But resources fell 0.57%. Banks rose 0.20%, financials gained 0.52% and industrials were up 0.43%.
The rand was trading at 7.29 to the dollar from 7.27 at the JSE's close on Tuesday. Gold was quoted at US$1 376.90 a troy ounce from US$1 373.30/oz at the JSE's previous close, while platinum was at $1 837.70/oz from $1 840.50/oz before.
"But dual-listed stocks like Richemont (CFR) and SABMiller [JSE:SAB] propped up the market," Todd said.
Dow Jones Newswires reported that European stocks rose on Wednesday, with banks leading the advance, as investors prepared for another data-heavy session.
By 08:55 GMT, the Stoxx Europe 600 index was up 0.4% at 290.72. London's FTSE 100 was up 0.5% at 6 066.92, Frankfurt's DAX added 0.3% to 7 424.13 and Paris's CAC-40 was 0.9% higher at 4 146.87.
In Asia, share markets ended mixed on Wednesday, with exporters in Tokyo rising on the yen's weakness while shares in China rose as the latest inflation data tempered concerns about further aggressive tightening of monetary policy from Beijing.
Japan's Nikkei Stock Average closed up 0.6%, Australia's S&P/ASX 200 was flat, South Korea's Kospi Composite was down 1.1%, China's Shanghai Composite Index gained 0.2% and Hong Kong's Hang Seng Index was 1.1% higher.
