Fin24

JSE flat in range-bound trade

2012-11-14 14:36

Johannesburg - The JSE traded within a narrow range at noon while the platinum sector remained well supported following a bullish platinum report.

At 12:41‚ the JSE All Share [JSE:J203] index was flat (-0.03%) at 37 381.79 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also flat (-0.02%) at 33 172.01. The platinum index lifted 1.68%.

In its 2012 interim platinum review‚ Johnson Matthey said South African supplies were predicted to fall 12% to 4.25 million oz.

“Platinum counters are the noticeable movers in today’s trade so far‚ as a rebound in the sector follows a rise in the dollar denominated spot price of the precious metal‚” said Shaun Murison‚ market analyst at IG.

Leading European shares were generally in negative territory at noon‚ with London’s FSTE 100 shedding 0.50%.

“The investor mood continues to be wobbly. The big headline at the moment is rand weakness but that has not translated into big gains for rand hedged stocks‚” Mark Wilkes‚ trader at GT247.com.