Money SA economy
The JSE was flat at noon on Monday as investors wait for key economic data this week, which is expected to indicate the state of the global economy.
At 12.01pm local time the JSE all share index had lost 0.06%, with resources up 0.27%, platinum miners down 0.16% and gold miners 0.12% lower. Banks moved 0.48% lower, financials edged down 0.37%, and industrials fell 0.27%. Gold was quoted at $1 255.99/oz from at $1 254.03/oz at the JSE's previous close, while platinum was at $1 586.50/oz from $1 564.50/oz at the JSE's last close.
Kelvin Algeo, portfolio manager at Imara SP Reid, said there was no specific sector on the JSE that was a feature.
"We have a lot of economic data out this week," Algeo said, noting that investors are waiting for these figures to gain insight into the health of the global economy. The main focus will be on the US June jobs, which is due for release on Friday.
Algeo said investors around the world were concerned about a possible double-dip recession in the US.
A local trader said trading volumes were light, indicating that the market lacked direction. He said there wasn't anything dramatic about what came out of the G-20 meeting at the weekend, with the market generally ignoring the G-20 communique.
Dow Jones Newswires reported that Asian stock markets ended mixed in cautious trade as investors digested the weekend communique from the G-20 nations.
European stock markets erased their opening gains, but then rallied despite worries about global growth, according to the Dow Jones Newswires reports.
On the JSE, Anglo rose R2.19 to R286, and BHP Billiton edged up R1.20 to R214.70. But Sasol fell R1.36 to R281.24.
