Money SA economy
The JSE was flat in directionless trade amid mixed global markets on Friday, ahead of a meeting in Brussels by European finance ministers to discuss the euro-zone debt crisis.
The German parliament is also expected to vote on its contribution to the European Union International Monetary Fund rescue package. By 12.01pm the JSE all share index was up 0.35%, with resources 1.17% firmer. Gold miners declined 1.34%, and platinum miners were 0.19% softer. Banks gained 0.81%, financials 0.33% stronger, but industrials declined 0.44%.
Gold was quoted at $1,182.90/oz from $1,187.30/oz at the JSE's last close. Platinum was at $1,491.50/oz from $1,516.50/oz at the JSE's last close.
"I doubt whether we will see a dead cat bounce today following a 3% decline on the local bourse yesterday. Markets abroad lack any clear direction, with very little going on ahead of a meeting later to discuss the euro-zone debt crisis," a local equities trader said.
Dow Jones Newswires reports that European stocks fell on Friday, taking their cue from a weak session on Wall Street, amid ongoing nervousness about sovereign debt and the impact of austerity measures on euro-zone growth.
Gold and oil prices were lower.
Many markets were off their lows as some investors picked up recently battered shares.
By noon on the JSE, Anglo had gained R5.89 to R279.25, and BHP Billiton added R4.96 or 2.46% to R206.20. Sasol added 10 cents to R273.10.
