JSE closes flat‚ banks weigh

The JSE pared some earlier gains to close flat on Friday due to some profit taking after the bourse reached an all-time high on Thursday.

“It has been a relatively quiet trading day with a bit of strength in industrials due to SABMiller continuing to move up after a strong run yesterday after releasing their interim results‚” said Guy Algeo‚ director at Imara SP Reid.

The JSE. Photo: Simphiwe Mbokazi. Credit: Independent Newspapers

At 5pm‚ the all share index was up 0.06% to 37‚865.59 points‚ with the top 40 index adding 0.06% to 33‚634.44 points‚ while banks and gold miners were down 1.07% and 0.68% respectively.

Leading European bourses were trading stronger‚ with the UK’s FTSE 100 up 0..65% at 5.22pm local time.

Meanwhile US stocks rose broadly at the open of an abbreviated session‚ as an expansion in Chinese manufacturing lifted investor spirits after the Thanksgiving holiday. Volumes are expected to remain light. The stock market will close at 1pm EST‚ Dow Jones Newswires reported.

The Dow Jones Industrial Average had gained 0.84% to 12‚917.07 points by 5.23pm local time.

Among individual counters on the JSE‚ AngloGold Ashanti (ANG) was down 0.47% and Gold Fields (GFI) shed 1.14% to R105.

Among banking shares RMB Holdings (RMH) gave back 2.72% to R38.60 and Nedbank (NED) dipped 1.55% to R179.18‚ while Abil (ABL) gained 2.61% to R32.63.

SABMiller (SAB) continued Thursday’s momentum‚ closing up 1.45% at R401.61. - I-Net Bridge