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Stocks AM: JSE flat, in line with world markets
Johannesburg, Mar 10 (I-Net Bridge) – The JSE saw a flat start on Wednesday, very much in tow with global markets.
The local bourse is expected to track overseas economic data out during the course of the day. At 09:19 the JSE all share index was flat, (0.01%), with platinum miners adding 0.53%, gold stocks gained 0.48%, but resources were also flat, down 0.05%.
Banks shipped 0.19%, financials were flat, up 0.04%, and industrials were virtually unchanged, down by only 0.01%.
The rand was bid at 7.39 to the dollar, from 7.38 seen at the JSE’s close on Tuesday. Gold was quoted at US$1,1124.78 a troy ounce from US$1,115.84 at the JSE’s last close. Platinum was at $1,603/oz from $1,591.50/oz at the JSE’s last close.
A local equities trader said: “Its been an uneventful start, very much in keeping with global markets. Asia has been flat, as are US futures.”
The trader noted economic data expected out later in the UK and US, which might provide some direction.
Dow Jones Newswires reported that European stocks are expected to open relatively flat overall Wednesday. This follows an uneventful session in Asia and also after the main US markets only managed a marginally higher finish in the previous session.
Ben Potter at IG Markets calls London’s FTSE 100 down six points at 5596, Frankfurt’s DAX up three at 5889, and the CAC up two at 3912. The economic calendar is a little livelier than it has been of late, Wednesday.
UK industrial production is at 09:30 GMT, followed by US wholesale inventories at 15:00 GMT, while the US monthly Treasury budget statement is at 19:00 GMT, after the close of European equity markets.
Regional markets in Asia were mixed as investors await cues from data due later in week. The Nikkei, Hang Seng, S&P/ASX, and HSI were all flat.
By Gareth Vorster
I-Net Bridge
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