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JSE flat after record high

Markets

The JSE was flat on Thursday morning after hitting a record high on Wednesday in the wake of a US deal to avert the fiscal cliff.

“The (avoidance) of the fiscal cliff has been very good for all emerging markets‚ it has increased investors’ risk appetite‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.

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The reception area of the Johannesburg Stock Exchange. File picture: Leon Nicholas

At 9.05am‚ the all share index was just 0.16% lower at 39‚9996.59 points. Leading the declines‚ gold miners lost 0.51%‚ followed by a 0.38% drop in the resources index.

Among individual counters to fall‚ paper group Mondi lost 1.35% to R93.05 and Trans Hex (TSX) gave up 1.56% to R3.15.

Platinum miner Aquarius (AQP) gained 7.32% to R8.80‚ Tigerbrands (TBS) added 2.21% to R337.50 and Aveng (AEG) grew 2.22% to R31.28. - I-Net Bridge

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