Money SA economy
The JSE swung into positive territory in midday trade on Wednesday, buoyed by commodities amid firm metal prices.
A local trader noted buyers evident at lower levels, however, the market remained relatively flat.
By 12.01pm the JSE all share index had eked out a small gain of 0.07%, with Platinum miners 0.89% firmer, and Gold miners 0.43% richer. Resources were flat, up 0.04%.
Banks were 0.27% stronger, financials were 0.18% better off, but industrials edged 0.02% lower. Gold was quoted at $1,109.43/oz a troy ounce 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.
"The US market was relatively flat overnight, while Asia was soft this morning, which culminated in a soft start for the local bourse. Buyers are evident at lower levels, which has seen a slight turnaround into positive territory, but still flat overall," a local equities trader said.
Dow Jones Newswires reports European stocks were slightly higher Wednesday, led upwards by media stocks after an announcement by the UK regulator that could have significant bearing on the pay-television market.
US stocks are set to open largely flat in subdued trade Wednesday, as markets head into the last trading session of the quarter, said David Morrison of GFT.
On the JSE, Anglo American added R1.01 to R318.51, but BHP Billiton was R1.79 down at R251.71. Sasol added 75 cents to R306.15.
