Johannesburg - South African stocks were flat at the market opening on Thursday as the markets sought direction.
Traders said there was little to affect the market overnight and the JSE had started on a quiet note.
By 9.25am, the all share index was down by 0.18 percent, as resources eased 0.35 percent and the gold mining index shed 0.11 percent. Platinum miners were virtually unchanged.
Banks and industrials were both off 0.06 percent and financials were 0.14 percent softer.
The rand was bid at R7.73 to the dollar from R7.76 when the JSE closed on Wednesday, while gold was quoted at $834.88 per ounce from $827.65 at the JSE's last close.
Platinum was last at $1 443.50 per ounce, up $10 from its previous close.
"The market is looking for direction. The Dow was up overnight and we had a rally towards the close late yesterday. Asian markets were slightly weaker, the Dow futures have weakened further since we opened and metals prices are slightly firmer, but at this stage there is nothing very exciting going on," said a local trader.
Dow Jones Newswires reported European share prices are seen mostly higher, after markets turned higher on Wednesday, lifted by energy companies and miners as crude oil prices strengthened through the day.
The gains followed a surge in crude oil futures to more than $118 a barrel amid persistent worries that Tropical Storm Gustav might disrupt oil production in the Gulf of Mexico.
The crude oil rise reignited worries about higher inflation and lower consumer spending in an environment of weakening growth.
Meanwhile, US stock futures are slightly lower after markets rose yesterday after signs of growth in some corners of the economy, although the market closed off its highs amid fears of a potential hurricane.
The Dow closed up 90 points.
In company news, South African mobile operator MTN Group (MTN) reported that group subscribers grew 53 percent to 74.1 million in the six months ended June compared with June 2007. Adjusted headline earnings per share rose 26 percent to 408.5c from 324.7c a year ago.
The company's share price was up R1.49, or 1.31 percent, at R115.50 in early trade.
Also in the news, Impala Platinum (Implats, IMP), the world's second-largest platinum producer reported a 57 percent climb in headline earnings per share for the full year to end June 2008 of R20.65 compared with R13.12 reported the year before.
The company said platinum production, excluding Lonmin material treated, increased by 2 percent while gross production decreased by 6 percent to 1.91 million ounces. Impala's share price was up 50c at R225.50.
Elsewhere on the JSE, resource giant Anglo American (AGL) was down R3 at R410 and BHP Billiton (BIL) lost 61c to R242.89. Sasol (SOL) eased by 80c to R416.20.
Gold miner AngloGold Ashanti (ANG) gained R2.10, or 1 percent, to R211.90, but Gold Fields (GFI) shed 40c to R72.60.
Anglo Platinum (AMS) was up 75c to R940.75, but Lonmin (LON) was off R6.02, or 1.22 percent, at R486.70.
Among industrials, brewer SABMiller (SAB) lost R1.10 to R159.80 and Richemont (RCH) dipped by 20c to R43.50. AECI (AFE) collected R2, or 3.08 percent, to R67.
PPC, which earlier unveiled details of a R2.7 billion Black Economic Empowerment deal, was up 57c, or 1.83 percent, at R31.77. It is to sell 15 percent of its equity to black investors, which would see community service groups, employees, education and industry associations trusts as well as strategic black owners owning a part of the company.
Standard Bank (SBK) was down 42c to R87.58, but Nedbank (NED) gained 98c to R105.98.