The JSE ended flat on Tuesday after a session that saw participants take profits and the market attempting to consolidate recent moves.

By 5pm, the JSE all share index had edged up 0.31 percent, with resources flat, down 0.01 percent, and platinum counters losing 1.24 percent. However, gold miners gained 2.59 percent.

Banks edged up 0.52 percent, financials collected 0.42 percent and industrials were up 0.64 percent.

The rand was last bid at 8.44 to the dollar from 8.44 when the JSE closed on Monday. Gold was quoted at $917.57/oz a troy ounce from US$914.27/oz at the JSE's last close, and platinum was at $1122/oz, from $1117 at its previous close.

"We have had a bit of a seesaw session today. Markets are still nervous and international banking stocks have come under pressure," the trader said.

"There is some profit taking and markets need to consolidate and digest the recent big gains.

"People are wary to commit cash into the market in the long run," he said.

Dow Jones Newswires reports that US stocks were steady to weaker on Tuesday as investors regrouped from the previous session's shellacking and digested new measures of chain-store sales and foreign trade.

The DJIA, which slid 156 points on Monday, has swung between slight gains and losses so far on Tuesday. Its component General Motors was down 31 cents, or 22 percent, at US$1.13 a share as it again weighed the possibility of bankruptcy. Also, new regulatory filings showed that senior GM executives have sold shares recently - a development that often worries public investors.

Tuesday's economic calendar was light, though the question of when a US recovery might take place continued to loom large for the market.

The Commerce Department said on Tuesday that the trade deficit widened to US$27.6-billion in March from US$26.1 in February. The report marked the first time since last July that the US trade deficit widened, with the rising cost of oil imports acting as a major contributor. However, the deficit was still smaller than analysts expected.

At the close of the local market, the DJIA had edged down 0.10 percent.

On the JSE, Anglo American edged down 87 cents to 201.39 rand and BHP Billiton lost 1.35 rand to 190.64 rand.

Petrochemicals group Sasol was up 1.90 rand to 303.40 rand.

ArcelorMittal put on 3.69 percent to 91.25 rand but Kumba Iron Ore fell 1.44 percent to 185.80 rand.

Among gold miners, AngloGold Ashanti added 2.98 percent to 314.50 rand, Gold Fields was up 1.55 percent to 105 rand and Harmony firmed 3.92 percent to 90.40 rand.

Platinum miner Anglo Platinum put on three rand to 498 rand but Impala Platinum was down 1.78 percent to 170.91 rand and Lonmin fell 5.91 percent to 175 rand.

In diversified miners, African Rainbow was off 1.68 percent to 133.71 rand and Exxaro lost 2.15 percent to 75.49 rand but Hulamin collected 1.90 percent to 10.70 rand.

Among industrials, brewer SABMiller was up 3.01 percent to 158.35 rand, Barloworld gained 3.52 percent to 38.20 rand and British American Tobacco collected 2.56 percent to 220 rand.

However, Remgro was off 1.45 percent to 71.50 rand and Tiger Brands lost 1.12 percent to 132 rand.

Banker Nedbank dropped 1.69 percent to 87.50 rand and Absa gave up 1.32 percent to 96.95 rand but FirstRand was up 1.83 percent to 13.34 rand.

Financial services group Old Mutual was up 1.93 percent to 8.98 rand and Sanlam added 2.43 percent to 17.68 rand.

Coronation Fund Managers was barely changed, down 1 cent to 5.59 rand. It earlier reported a 16 percent decline in diluted headline earnings per share to 20.2 cents for the six months ended March from 24 cents a year ago. An interim cash dividend of 13 cents was declared.

Assets under management declined by a respectable four percent to R120-billion at 31 March from R125-billion at 30 September 2008, the company said, demonstrating encouraging resilience during a time in which the FTSE/JSE All Share Index declined by 13 percent and the MSCI World Index by 20 percent.

Revenue declined by 14 percent to R363-million as asset values contracted in the extremely difficult operating environment.

The containment of fixed costs with leverage from declining variable costs positively impacted operating costs which declined by 14 percent to R231-million.

Profit from asset management declined by 22 percent to 122 million.

Media group Naspers put on 1.89 percent to 187.98 rand.

Among retailers, Woolies was off 2.56 percent to 12.18 rand, JD Group lost 3.24 percent to 34 rand and Foschini weakened 1.77 percent to 47.30 rand.

Massmart lost 1.41 percent to 77 rand. It earlier reported that for the 44 weeks to 3 May total sales increased 11.8 percent to R36.7-billion over the prior period, and comparable store sales grew 9.7 percent. Inflation for the period is estimated at 11.8 percent.

For the period, Massdiscounters's sales grew 12.5 percent with inflation of 4.6 percent, Masswarehouse grew 12.5 percent with inflation of 13.4 percent, Massbuild grew 0.3 percent with inflation of 12.5 percent and Masscash grew 15.9 percent with inflation of 16.7 percent.

In Massdiscounters the recent strength of the local currency has reduced the rate of growth of Game's African stores when reported in rands, although this growth remains very strong, the group noted.

Liberty International was off 1.48 percent to 50 rand.

Construction group Aveng shed 4.43 percent to 30.39 rand and WBHO was off 1.90 percent to 103.50 rand.

Cement manufacturer Pretoria Portland Cement was down 4.28 percent to 30.38 rand. It earlier reported diluted headline earnings per share of 20.3 cents for the six months ended March, down from 125.6 cents previously. Diluted HEPS excluding BBBEE IFRS 2 charges came in at 105 cents compared with 125.6 cents before.

PPC declared an unchanged interim dividend of 45 cents per share. The company expects to maintain dividend cover for the full year in the stated range of 1.2 to 1.5 times based on earnings before the IFRS 2 charges resulting from the BBBEE transaction.

Pharmaceutical company Aspen Pharmacare shed 5.33 percent to 48 rand. It earlier announced that it has agreed the terms to a series of strategic interdependent transactions with leading multinational pharmaceutical group, GlaxoSmithKline. The deals are valued at R3.47-billion.

The transactions comprise the acquisition of the rights to distribute GSK products in South Africa by Aspen's wholly owned subsidiary, Pharmacare, and the formation of a collaboration arrangement in relation to the marketing and selling of prescription pharmaceutical products in sub-Saharan Africa, excluding South Africa, Lesotho and Swaziland, between Aspen and GSK, to be known as GSK Aspen Healthcare for Africa.

Telecommunications group MTN Group was up 1.14 percent to 110.24 rand and Telkom added 1.05 rand to 114 rand.

I-Net Bridge