Johannesburg - The JSE opened flat on Monday, lacking any clear direction amid
closed US markets in recognition of the Independence Day holiday.
At 09:25 local time the JSE all share index had given up a miserly 0.09% with resources 0.48% down.
Platinum miners shed 0.90%, but gold miners were flat, down 0.04%. Banks rose
0.24%, financials were 0.23% in positive territory and industrials were flat.
The rand was bid at R7.71 to the dollar, from R7.73 at the JSE's last close. Gold
was quoted at $1 212.64 a troy ounce from at $1 205.96/oz at the JSE's previous close, while platinum
was at $1 514.50/oz from $1 499.50/oz at the JSE's last close.
local trader said: "It's a very gentle start for the JSE this morning as a
result of the holiday
in the US. The local bourse is expected to drift today with volume anticipated to
be very thin."
European stocks opened a fraction firmer, with the FTSE up
Dow Jones Newswires reported that with the US markets closed for the
Independence Day holiday, volumes
are likely to be fairly light, traders said.
Still, there are a few data releases due that may provide some direction. The eurozone services
purchasing managers' index and eurozone retail sales are due for release, while the UK services PMI is expected.
Asia, Japan's Nikkei Stock Average was 0.7% higher, South Korea's Kospi Composite was up 0.4%
and China's Shanghai Composite Index was 0.7% lower. Hong Kong's Hang Seng Index fell
- I-Net Bridge