Money SA economy
While maintaining a firm undertone amid improved global risk appetite, the JSE was flat in midday trade on Friday with traders saying it was looking a bit oversold after its recent good run.
A strong rand was also capping any real gains.
Markets are also cautious ahead of the release of US jobs data later today.
At noon the JSE all share index was flat (+0.08%), with resources (-0.05%), platinum miners (O.0%) and industrials (0.07%) also flat. Gold miners however were down 0.72%. Banks and financials on the other hand were up 0.97% and 0.34% respectively.
Gold was quoted at $1,136.21 a troy ounce from $1,134.18 at the JSE's last close. Platinum was at $1,578/oz from $1,573.50/oz at the JSE's last close.
"There is still a positive undertone to the market, but it feels a bit toppish right now. We had quite a good run recently and the market might be a bit over-extended," a local equities trader said.
Dow Jones Newswires reports that European stocks were modestly higher Friday ahead of key US employment data, with gains in the basic resources and banking sector lending support.
"We are getting pulled higher by strength in the heavyweight miners and banks this morning," said Joshua Raymond, market analyst at City Index.
Nonfarm payrolls and the unemployment rate are due at 1330 GMT. Economists surveyed by Dow Jones expect the payrolls release data to show a 75,000 decline, and a 9.8%unemployment rate.
In Asia, share markets were higher, boosted by US gains, and with stocks in Tokyo powering higher on hopes the Bank of Japan would ease policy further.
On the JSE, Anglo American gave up 100 cents to R295, but BHP Billiton found 99 cents to R242. Sasol was down 90 cents to R283.65.
