The JSE was slightly lower in midday trade on Friday on the back of profit taking and a strong rand, defying the generally positive sentiment among global markets.
By 12pm the JSE all share index was down 0.11 percent, with resources lower at 0.40 percent, and platinum miners 0.19 percent down. Gold miners shed 1.29 percent.
But banks climbed 0.60 percent and financials added 0.43 percent. Industrials shed 0.13 percent.
The rand was bid at R7.56/$, from R7.64/$ at the JSE's close on Thursday. Gold was quoted at $1 214.70/oz from $1 215.03/oz at the JSE's last close.
Platinum was at $1 562.50/oz from $1 548.50/oz at the JSE's last close.
A local equities trader said:" The SA stocks remained relatively lower as traders booked profits after it rose quite strongly for the past two consecutive days."
"The firmer rand also impacted negatively on the JSE, particularly the mining stocks."
Meanwhile, Dow Jones Newswires reports that European stock markets nudged a little higher on Friday, with Wall Street's rally Thursday on offering support as worries start to ease over Europe's debt situation.
Still, risk assets continue to demonstrate very choppy and occasionally counter-intuitive price action on the final trading day of the week before the prolonged UK and US weekend, said Kenneth Broux, senior market economist at Lloyds Banking Group.
Nonetheless, the oversold rebound is underway, lifting global equity indexes off their accelerated lows, said J Wong, analyst at Investors Intelligence.
And "with our global economists believing that this economic recovery is sustainable, we expect the current growth scare associated with this correction will pass," added Morgan Stanley.
Asian markets ended higher Friday as investor optimism spurred by Wall Street's strong performance on Thursday helped lift financial stocks and exporters, with energy plays getting a bump from higher crude-oil prices.
Sentiment got a boost after China's foreign-exchange regulator, the State Administration of Foreign Exchange, Thursday denied reports that it is reviewing its holdings of euro-zone debt.
That helped drive the Dow Jones Industrial Average up 2.85 percent, marking its second-largest percentage gain this year.
"China's denial that it's thinking of selling its European bond holdings has really boosted investor confidence and comes at a crucial time, when markets are jittery over the euro zone's debt problems," said KGI Securities trader Randy Chang in Taipei.
Japan's Nikkei Stock Average climbed 1.3 percent, Australia's S&P/ASX 200 advanced 1.8 percent and South Korea's Kospi added 1.0 percent.
Hong Kong's Hang Seng Index jumped 1.7 percent, China's Shanghai Composite closed flat, while Taiwan's Taiex rose 0.7 percent.
By noon on the JSE, Anglo added 69 cents to R299.30, while BHP Billiton slipped R1.69 to R213.80.
Sasol shed 50 cents to R276.50.
Platinum miner Anglo Platinum slid 35 cents to R774.65, Impala Platinum was down 57 cents to R195.68, Northam Platinum found 10 cents to R47.60, and Lonmin lost 31 cents to R191.25.
Among gold miners, AngloGold Ashanti lost R4.54 or 1.39 percent to R322.35, and Harmony subsided 84 cents or 1.12 percent to R74.40.
Kumba Iron Ore was up 10 cents to R330.10.
Assore gave up R25 or 3.57 percent to R675.00.
Arcelormittal shed 11 cents to R79.89.
Industrials group BAT was down R1.10 to R224.30, SAB Miller shipped R1.09 to R215.19, and Imperial picked up 9 cents to R97.10.
Compagnie Financiere Richemont dropped 45 cents or 1.75 percent to R25.20.
TigerBrands improved R2.14 or 1.23 percent to R176.48 while Barloworld lost 24 cents to R46.68.
Telecommunications group Telkom shed 25 cents to R36.75, MTN Group declined 50 cents to R108.30.
Among banks Standard Bank was up 85 cents to R107.93, Absa lifted 16 cents to R130.26, and FirstRand rose 22 cents to R19.92.
Financial services group Old Mutual was 10 cents firmer at R12.73, and Santam rose 98 cents to R105.00.
Construction group Aveng gained 15 cents to R36.75.
Media group Naspers climbed R1.68 to R301.18.
Agri-processing business Tongaat Hulett rose 29 cents to R97.70.
The group lifted diluted headline earnings for the 15 months to end March 2010 to 810 cents from 594.7 cents previously.
The group recorded revenue of R11.136 billion from R9.453 billion earlier, with headline earnings of R858 million from R626 million previously.
Profit from operations was up 28 percent to R1.691 billion.
Tongaat Hulett said it increased profit from continuing operations every year since 2003 as the company benefited from its growing operations and the emerging global dynamics of increasing demand for agricultural products, food, renewable energy and land usage.
Trading and warehousing group Insimbi rose one cent or 2.5 percent to 41 cents.
It reported headline earnings per share of 4.13 cents in abridged results for the year ended February 28, 2010, from 20.6 cents previously.
It reported basic and fully diluted earnings per share of 4.12 cents from 19.87 cents earlier.
Insimbi noted revenue declined to 611.63 million, from R969.67 million in 2009, while operating profit was at R26.79 million, from 83.6 million.
Gold and uranium exploration company Witwatersrand Consolidated Gold Resources was down R1 or 1.67 percent to R59.
On Friday it reported a diluted headline loss per share of 45.02 cents in abridged results for the year ended February 28, 2010, from a loss of 20.32 cents previously.
The group recorded a diluted loss per share of 45.02 cents from 20.26 cents earlier.
Wits Gold noted a loss from operating activities was reduced by R3.2 million to a loss of R14.75 million.
"This reduction results mainly from reductions in respect of consulting fees of R1.2 million, investor relations expenditure of R0.9 million, and employment related expenditure of 1.5 million rand," it said. - I-Net Bridge