Money SA economy
The JSE saw a relatively flat start on Friday as the local bourse looked to consolidate following Thursday's surprise decision by the Monetary Policy Committee to reduce the repo rate by half a percent.
By 9.18am the JSE all share index had added 0.20%, with Gold miners 0.53% firmer, and platinum miners up a fraction (0.10%). Resources declined 0.15%.
Banks inched 0.11% higher, financials were 0.34% better off and industrials moved 0.58% higher.
Gold was quoted at $1,098.72 a troy ounce from $1,092.41/oz at the JSE's last close. Platinum was at $1,606.50/oz from $1,597.50/oz at the JSE's last close.
A local trader said: "The market is flat this morning, with some consolidation taking place following yesterday's the rate cut which sent shares higher.
“It's a case of where to from here, as the market looks for further direction. Asia is firmer this morning, but we might see a bit of selling taking place on the local bourse this morning."
Dow Jones Newswires reports European stocks are set to open lower Friday, after the late selloff on Wall Street overnight, says Ben Potter at IG Markets. He calls London's FTSE 100 down 18 points at 5710, Frankfurt's DAX down 21 at 6112 and Paris's CAC-40 down 20 at 3980.
There are no euro zone data due, but in the US, GDP is at 12:30 GMT and University of Michigan confidence at 13:55 GMT.
