JSE flat
Article By: Palesa Motloung
Thu, 18 Jun 2009 12:00
The JSE was flat by noon on Thursday with metal counters seeing some buying interest, with a trader noting that the market was eyeing key economic data out of the US for direction.
By 11.58am, the JSE all share index had edged up 0.30 percent with resources
adding 1.24 percent, platinum counters collecting 0.30 percent and gold stocks firming 1.38 percent.
Banks weakened 0.49 percent, financials eased 0.21 percent and industrials edged down 0.43 percent.
The rand was last bid at 8.10 to the dollar from 8.12 when the JSE
closed on Wednesday. Gold was quoted at $937.80/oz a troy ounce from
$933.15/oz at the JSE's last close, and platinum was at $1205.50/oz,
from $1201/oz at its previous close.
"We are flat, but we are not doing too badly considering Eastern
markets," the trader said.
"The rand has weakened a bit, but I think everyone is waiting for the
futures close-out kick. We are also continuing to see some profit taking,
although there is some buying interest at these levels and that is why we
are holding.
"We are not seeing too much direction. We are also waiting for economic
indicators out of the US," he said.