Fin24

JSE closes flat‚ banks weigh

2012-11-23 18:23

Johannesburg — The JSE pared some earlier gains to close flat on Friday due to some profit taking after the bourse reached an all-time high on Thursday.

“It has been a relatively quiet trading day with a bit of strength in industrials due to SABMiller continuing to move up after a strong run yesterday after releasing their interim results‚” said Guy Algeo‚ director at Imara SP Reid.

At 17:00‚ the All Share [JSE:J203] index was up 0.06% to 37 865.59 points‚ with the Top 40 - (Tradeable) [JSE:J200] index adding 0.06% to 33 634.44 points‚ while banks and gold miners were down 1.07% and 0.68% respectively.

Leading European bourses were trading stronger‚ with the UK’s FTSE 100 up 0.65% at 17:22 local time.

Meanwhile US stocks rose broadly at the open of an abbreviated session‚ as an expansion in Chinese manufacturing lifted investor spirits after the Thanksgiving holiday. Volumes are expected to remain light. The stock market will close at 13:00 EST‚ Dow Jones Newswires reported.

The Dow Jones Industrial Average had gained 0.84% to 12 917.07 points by 17:23 local time.