JSE still soft by midday

The JSE was soft in midday trade on Friday, suffering from a futures closeout hangover.

By 12pm the JSE all share index had given up 0.49%, with resources 0.52% softer. Gold miners were down 0.66% and platinum miners declined 0.48%. Banks were 0.56% worse off, financials dropped 0.37% and industrials moved 0.52% lower.

Gold was quoted at $1 122.14/oz from $1 122.21/oz at the JSE's last close. Platinum was at $1 622/oz from $1 629/oz at the JSE's last close.

A local trader said: "The local bourse is suffering from a futures closeout hangover today. Global markets are trading quite positively, but locally, commodities are pushing us down."

//

Dow Jones Newswires reported European stocks were led higher by bank shares on Friday after Lloyds Banking Group said it expects to return to profit this year and positive sentiment on Wall Street had helped to lift confidence.

Earlier, on Thursday, the Dow Jones Industrial Average climbed 0.4% to 10 779.2, its highest close since Oct. 1, 2008.

On the JSE, Anglo American was 92c lower at R305 and BHP Billiton declined 202c to R245.51. Sasol gave up 40c to R284.90.