The JSE ignored a firm opening on Wall Street and ended in the red on Thursday with banking stocks weighing heavily as market participants continued to take profits, an equities trader said.

By 5pm, the JSE all share index had weakened 0.68 percent, with resources edging up 0.24 percent and gold counters flat, up 0.03 percent. However, platinum miners lost 3.10 percent

Banks shed 5.72 percent, financials gave up 2.87 percent and industrials eased 0.67 percent.

The rand was last bid at 9.41 to the dollar from 9.40 when the JSE closed on Wednesday. Gold was quoted at $937.55/oz a troy ounce from $929.47/oz at the JSE's last close, and platinum was at $1151/oz (at 16:50 local time) from its previous close of $1120.50/oz.

"We ended down even though the Dow is up. There is some profit taking in the market," the trader said.

"The banking index ended down sharply and that weighed heavily on the market. These banks have had some big moves recently and it's not surprising that they are down now."

Dow Jones Newswires reports US stocks edged higher on Thursday, though the gains were held in check by an uptick in jobless claims.

In economic news, the US Labour Department reported that initial claims for state unemployment benefits climbed 8000 to 652 000 last week and total claims rose to a record high over 5.5 million, suggesting that job losses are continuing at a rapid clip.

Separately, the government issued its final reading of fourth-quarter economic activity. US gross domestic product shrank at a revised 6.3 percent annual rate in the October-December period, a bit faster than the 6.2 percent rate in the last reading.

The day's reports ran counter to the more upbeat tone of recent economic releases, including promising readings of home sales and durable-goods orders. Nevertheless, most traders and analysts believe that the market remains in a bear-market rally that could last at least through the upcoming earnings season, when red ink and glum forecasts by companies may spoil the party.

At the time the JSE closed, the DJIA had collected 0.68 percent.

On the JSE, Anglo American was off 1.37 rand to 169.41 rand but BHP Billiton added 2.88 percent to 198.25 rand.

BHP Billiton earlier said that it had priced a two tranche Euro Bond.

This comprises of €1.250-billion of 4.75 percent Euro Bonds due April 2012 and €1.000-billion of 6.375 percent Euro Bonds due April 2016.

The proceeds will be used for general corporate purposes, it said.

Petrochemicals group Sasol gave up 1.51 percent to 293.50 rand.

Paper group Sappi weakened 1.04 percent to 19.10 rand.

ArcelorMittal lost 2.01 percent to 73 rand but Kumba Iron Ore was up 3.47 percent to 169.10 rand.

Among gold miners, AngloGold Ashanti lost two rand to 357 rand but Harmony gained 1.62 percent to 109.50 rand.

Platinum miner Anglo Platinum was up 2.17 percent to 515.98 rand but Impala Platinum gave up 5.65 percent to 167 rand and Lonmin weakened 1.82 percent to 199.80 rand.

Aquarius Platinum jumped 9.76 percent to 27.99 rand. It earlier announced a £125-million (R1.7-billion) placement and rights issue, saying part of the funds are to be used for its acquisition of Ridge Mining.

The company, which is listed on the JSE, Australian Stock Exchange and London Stock Exchange, intends to place up to 46.3 million new shares representing up to 14.2 percent of existing issued capital with both new and existing institutional investors.

In diversified miners, Hulamin lost 1.79 percent to 11 rand.

Elsewhere on the JSE, brewer SABMiller was down 3.36 percent to 138.39 rand and British American Tobacco lost 2.75 percent to 211.52 rand.

However, Remgro collected 2.76 percent to 72.95 rand, Bidvest was up 1.39 percent to 91 rand and Imperial rose 4.85 percent to 54 rand.

Among banks, Standard Bank shed 6.33 percent to 81.10 rand, Nedbank fell 3.16 percent to 86 rand and FirstRand gave up 6.82 percent to 12.70 rand.

Absa gave up 3.48 percent to 96.03 rand. Absa and Batho Bonke Capital earlier announced that Batho Bonke had issued a notice to exercise its options in Absa, ahead of the last option exercise date on 1 June 2009.

The 73.1 million options held by Batho Bonke are exercisable until June 2009 at an option strike price that varies between 48 rand and 69 rand per share according to the prevailing Absa share price.

The final strike price will be determined with reference to the 30 day Volume Weighted Average Share Price (VWAP) of Absa ordinary shares on 1 June 2009. Based on the 30 day VWAP to 17 March 2009 of 88.74 rand, the strike price of the options is 60.60 rand per share, valuing the Batho Bonke options at R2.1-billion.

Financial services group Old Mutual weakened 2.51 percent to 6.98 rand but Sanlam was up 2.42 percent to 16.90 rand and Investec added 1.42 percent to 39.30 rand.

Sugar group Illovo collected 2.65 percent to 29 rand.

Media group Caxton was down 2.54 percent to 11.50 rand but Avusa gained 3.03 percent to 17 rand.

Retailer Woolies lost 1.72 percent to 11.99 rand, Truworths weakened 1.58 percent to 31.10 rand and Massmart shed 4.61 percent to 72.49 rand.

However, Foschini rose 2.25 percent to 44.99 rand and Steinhoff was up two percent to 10.20 rand.

Liberty International lost 1.71 percent to 58.10 rand.

Construction company Raubex was up 3.83 percent to 19 rand. It earlier advised shareholders that it expects earnings per share and headline earnings per share for the year ended 28 February 2009 to be between 50 percent and 70 percent higher compared to the corresponding audited period to February 29 2008.

This translates into earnings per share (both EPS and HEPS) of between 272 cents to 308 cents, the company said.

Group Five gave up 1.03 percent to 28.70 rand.

Cement manufacturer Pretoria Portland Cement fell 1.32 percent to 31.48 rand.

Telecommunications group MTN Group edged up 50 cents to 111 rand and Telkom gained 4.07 percent to 107.50 rand.

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