Money SA economy
The JSE opened flat on Monday, lacking any clear direction amid closed US markets in recognition of the Independence Day holiday.
At 09:25 local time the JSE all share index had given up a miserly 0.09% with resources 0.48% down. Platinum miners shed 0.90%, but gold miners were flat, down 0.04%. Banks rose 0.24%, financials were 0.23% in positive territory and industrials were flat. Gold was quoted at $1 212.64/oz from at $1 205.96/oz at the JSE's previous close, while platinum was at $1 514.50/oz from $1 499.50/oz at the JSE's last close.
A local trader said: "It's a very gentle start for the JSE this morning as a result of the holiday in the US. The local bourse is expected to drift today with volume anticipated to be very thin."
European stocks opened a fraction firmer, with the FTSE up 0.28%.
Dow Jones Newswires reported that with the US markets closed for the Independence Day holiday, volumes are likely to be fairly light, traders said.
Still, there are a few data releases due that may provide some direction. The euro-zone services purchasing managers' index and euro-zone retail sales are scheduled for 0800 GMT and 0900 GMT respectively, while the UK services PMI is due at 0830 GMT.
In Asia, Japan's Nikkei Stock Average was 0.7% higher, South Korea's Kospi Composite was up 0.4% and China's Shanghai Composite Index was 0.7% lower. Hong Kong's Hang Seng Index fell 0.2%.
