Stocks were relatively flat in midday trade on Tuesday, pushed marginally into the black by gold stocks.

At 12pm the JSE all share index was 0.26 higher, with gold miners 0.98 percent firmer, resources 0.42 percent stronger, and platinum miners picking up 0.31 percent.

Banks and financials firmed 0.31 percent and 0.43 percent respectively, while industrials were virtually unchanged, up 0.01 percent.

The rand was bid at 7.36 to the dollar from 7.30 just before the JSE closed on Monday. Gold continued to trade near its record highs, quoted at $1061.85, a troy ounce from $1056.78/oz at the JSE's last close, and platinum was at $1363.17/oz, from $1323/oz at its previous close.

A local equities trader said: "We are seeing a bit of profit taking on the exchange today, but not too much. We have seen some sideways movement this morning, but the gold price has pushed stocks up a bit."

Dow Jones Newswires reports that US stocks are set to open lower on Tuesday. As the earnings season picks up this week, there is some evidence that investors may be taking money off the table, said David Morrison at GFT. He called DJIA down 25 points at 9,860 and the S&P 500 down three at 1,073. "It feels as if the results from this quarter could be crucial in deciding whether we finish the year with a continuation of the rally or not." Eyes would be on Johnson & Johnson before the open and then Intel once Wall Street closed.

U.K. business confidence bounced back to its highest level for a year and a half in the third quarter, but the economy is still frail and a sustainable recovery cannot be guaranteed, the British Chambers of Commerce said on Tuesday. The FTSE 100 benchmark index reached 5231.19 points yesterday, the highest level since September 2008.