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Johannesburg - The JSE ended slightly firmer in lacklustre trade on Wednesday, with investors remaining tentative as they stay focused on more earnings reports in the US.
Investors were non-committal and this indicated that the market was still on the edge, said Garth Mackenzie, an equity derivatives trader at Imara SP Reid.
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.35%, with resources rising 0.64% and gold miners firming 0.94%. Industrials were also up 0.36%. But platinum miners lost 1.15%, banks eased 0.54% and financials shed 0.26%.
The rand was bid at R6.75 to the dollar from R6.69 at the JSE's close on Tuesday. Gold was quoted at $1 460.39 a troy ounce from $1 450.45/oz at the JSE's previous close, while platinum was at $1 783.50/oz, from $1 771.50/oz previously.
Mackenzie said the level of expectations about the latest US earnings season was high.
Dow Jones Newswires reported that US stocks staged modest gains on Wednesday morning as investors eyed stronger consumer spending and JPMorgan Chase's solid results.
The Dow Jones Industrial Average climbed 28 points, or 0.2%, to 12 292.
"The focus is on what corporations are saying," said Brad Sorensen, Charles Schwab's director of market and sector analysis, with forecasts the key to whether the market can make the next leg higher.
In one sign of investors' attentiveness, JPMorgan Chase's stock lost most of its morning gains, trading up 0.3% recently, after CE Jamie Dimon said the company would see no further dividend increases for several quarters. Shares had risen 1% after the bank's stronger-than-expected first-quarter earnings, a fivefold dividend increase and word of a $15bn stock buyback programme.
In US economic data, February business inventories grew to their highest level in more than two years as companies looked to keep up with slowly rising sales. US retail sales increased broadly in March, though the gains undershot expectations slightly.
Investors were non-committal and this indicated that the market was still on the edge, said Garth Mackenzie, an equity derivatives trader at Imara SP Reid.
By 17:00 local time, the JSE All Share [JSE:J203] index was up 0.35%, with resources rising 0.64% and gold miners firming 0.94%. Industrials were also up 0.36%. But platinum miners lost 1.15%, banks eased 0.54% and financials shed 0.26%.
The rand was bid at R6.75 to the dollar from R6.69 at the JSE's close on Tuesday. Gold was quoted at $1 460.39 a troy ounce from $1 450.45/oz at the JSE's previous close, while platinum was at $1 783.50/oz, from $1 771.50/oz previously.
Mackenzie said the level of expectations about the latest US earnings season was high.
Dow Jones Newswires reported that US stocks staged modest gains on Wednesday morning as investors eyed stronger consumer spending and JPMorgan Chase's solid results.
The Dow Jones Industrial Average climbed 28 points, or 0.2%, to 12 292.
"The focus is on what corporations are saying," said Brad Sorensen, Charles Schwab's director of market and sector analysis, with forecasts the key to whether the market can make the next leg higher.
In one sign of investors' attentiveness, JPMorgan Chase's stock lost most of its morning gains, trading up 0.3% recently, after CE Jamie Dimon said the company would see no further dividend increases for several quarters. Shares had risen 1% after the bank's stronger-than-expected first-quarter earnings, a fivefold dividend increase and word of a $15bn stock buyback programme.
In US economic data, February business inventories grew to their highest level in more than two years as companies looked to keep up with slowly rising sales. US retail sales increased broadly in March, though the gains undershot expectations slightly.
