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Johannesburg - The JSE pared morning gains to trade flat at noon‚ bucking the generally positive global trend in world markets‚ as weakness in gold shares weighed on the domestic exchange.
At 12:45‚ the JSE All Share [JSE:J203] index was flat (0.04%) at 40 079.87 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also flat (0.03%). Gold stocks lost 2.25% but industrials regained 0.47%.
“Mining shares continue to lag the broader market. It is disappointing in the light of the fact global risk appetite seems to be back on the table in Europe‚ while US futures signal a positive open on Wall Street‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.
Platinum stocks have lost in excess of 5% this month‚ followed by resources‚ down 2.2% but industrials and financials are up more than 2%.
Major European stock markets were firmer at noon‚ with UK’s FTSE 100 gaining 0.82%. The positive sentiment is underpinned by the approval of Cyprus’s €10 bail-out package.
Among individual stocks on the JSE‚ BHP Billiton (BIL) was down 1.31% to R272.88 but Aquarius Platinum nudged up 1.90% to R7.49.
Gold Fields (GFI) was down 4.08% to R71.47 and Harmony (HAR) dropped 1.98% to R59.39.
In industrial stocks‚ British American Tobacco (BTI) lost 1.90% to R491.20 but MTN Group (MTN) regained 2.52% to 166.60‚ after dropping 7% on Friday.
Murray & Roberts (MUR) was up 2.02% to R23.70.
At 12:45‚ the JSE All Share [JSE:J203] index was flat (0.04%) at 40 079.87 points‚ with the Top 40 - (Tradeable) [JSE:J200] index also flat (0.03%). Gold stocks lost 2.25% but industrials regained 0.47%.
“Mining shares continue to lag the broader market. It is disappointing in the light of the fact global risk appetite seems to be back on the table in Europe‚ while US futures signal a positive open on Wall Street‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.
Platinum stocks have lost in excess of 5% this month‚ followed by resources‚ down 2.2% but industrials and financials are up more than 2%.
Major European stock markets were firmer at noon‚ with UK’s FTSE 100 gaining 0.82%. The positive sentiment is underpinned by the approval of Cyprus’s €10 bail-out package.
Among individual stocks on the JSE‚ BHP Billiton (BIL) was down 1.31% to R272.88 but Aquarius Platinum nudged up 1.90% to R7.49.
Gold Fields (GFI) was down 4.08% to R71.47 and Harmony (HAR) dropped 1.98% to R59.39.
In industrial stocks‚ British American Tobacco (BTI) lost 1.90% to R491.20 but MTN Group (MTN) regained 2.52% to 166.60‚ after dropping 7% on Friday.
Murray & Roberts (MUR) was up 2.02% to R23.70.
