Johannesburg - The JSE was flat on Friday morning‚ a touch above the record high it reached on Thursday‚ with platinum stocks showing some gains and gold miners down the most after good gains on Thursday.
Market players are keenly awaiting the release of US nonfarm payrolls numbers this afternoon‚ after two upbeat US employment reports released on Thursday. Positive nonfarm payrolls numbers have the potential to increase global sentiment that may boost the JSE.
At 9.50am‚ the JSE all share index was flat (0.05%) at 37‚396.67 points‚ with platinums adding 0.95% and gold miners dropping 1.02%.
Asian markets were in positive territory‚ with the Nikkei 225 average in Tokyo closing 1.17% higher and Hong Kong’s Hang Seng index 1.25% firmer at 9.35am local time.
Stronger than expected US employment‚ manufacturing and consumer confidence reports released on Thursday bolstered the view that growth in the world’s largest economy continues to push higher‚ Rand Merchant Bank said in a morning note.
“The set of positive data out of the US were complemented by positive manufacturing data releases in the rest of the world.”
“While we are still awaiting a number of releases from the euro area — where the markets were closed due to the All Saints Holiday — it is worth noting that China and Brazil’s PMI readings increased. “
“It was striking that SA‚ the UK and Greece were among a few countries where PMI (purchasing managers index) readings continue to fall. This may be a factor that is weighing on the rand‚” the bank said.
Among individual counters on the JSE‚ Gold Fields was down 1.06% at R107.97 and Harmony fell 0.50% to R69.60.
Among platinum counters‚ Impala Platinum added 1.55% to R155.75 and Aquarius surged 2.33% to R5.70‚ while Northam Platinum (NHM) gave back 1.07% to R32.39
Redefine International added 3.94% to R5.54 and Oceana jumped 5.17% to R61.00. - I-Net Bridge