Money SA economy
The JSE was soft at its opening bell on Wednesday amid some profit taking ahead of the long weekend.
A local trader did however, note firmer metal prices, while a merger deal between Metropolitan and Momentum had also yielded positive results on the local bourse.
By 9.26am the JSE all share index had shed 0.22%, with resources down 0.4%. Platinum miners however, added 0.89% and Gold miners gained 0.31%. Banks were 0.57% stronger, financials were 0.39% better off but industrials edged 0.24% lower.
Gold was quoted at $1 108.99/oz from $1 103.64/oz at the JSE's last close. Platinum was at $1 643/oz from $1 618/oz at the JSE's last close.
A local trader said: "US futures are weaker, and the Dow was pretty flat, which has contributed to a softer start on the local bourse.
"The market has run well of late, so we may just be seeing a bit of profit taking ahead of the long weekend, with quarter end also upon us.
"A bit of positive news coming through is the Metropolitan and Momentum merger agreement."
Dow Jones Newswires reported that European stocks are expected to start the session higher Wednesday, taking their lead from the late rebound on Wall Street, although activity is likely to be light in most asset classes, said market participants.
By contrast, Asian share markets were generally lower Wednesday. Trading was tentative after Wall Street's modest rise Tuesday and ahead of the US March nonfarm payrolls data on Friday.
