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JSE flat on market consolidation

The JSE was flat at noon on Thursday as the market experienced some consolidation after reaching a record high on Wednesday.

“We are seeing some consolidation in the local market after the highs from yesterday caused by the aversion of the fiscal cliff in the US‚” said Ockert van Niekerk‚ head of trading at PSG.

The JSE is seen in this file photo: Leon Nicholas. Credit: INDEPENDENT MEDIA

At 12.11pm‚ the all share index was 0.04% lower at 40‚046.16 points. Gold miners lost 1.21% and the resources index shed 1.11%.

“We are still experiencing very thin volumes so we could see some erratic movements in the JSE‚” Van Niekerk said.

On the JSE‚ Anglo American (AGL) lost 1.04% to R274.53‚ BHP Billiton (BIL) shed 1.61% to R302.55‚ ArcelorMittal (ACL) gave up 1.38% to R37.97‚ while Aquarius (AQP) leapt 10.12% to R9.03.

Richemont (CFR) gained 2.59% to R69.66‚ Vodacom (VOD) added 1.15% to R127.65 and Woolworths (WHL) grew 2.45% to R71.87.

Sappi (SAP) added 1.90% to R32.20‚ Mondi PLC (MNP) grew 1.52% to R95.75 and Imperial (IPL) was 1.45% stronger at R203.92. - I-Net Bridge

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