JSE opens flat as upbeat Anglo and BHP results fail to lift overall market
The market is seeking renewed direction after Wall Street was closed on Monday for the Presidents Day public holiday in the US
The JSE opened flat with a weaker bias on Tuesday, on mixed Asian markets and despite some upbeat results reported in the morning, among others from Anglo American and BHP Billiton. Industrials and platinums dragged the market down while resources were buoyed by the results from the global miners. Banks and financials remained under pressure ahead of Wednesday’s budget speech. The market sought renewed direction after Wall Street was closed on Monday due to the Presidents Day public holiday in the US. "Without a lead from Wall Street, most Asian markets were extending gains from the previous session boosted by higher oil and commodity prices," Nedbank Corporate and Investment Banking analysts said. Brent crude was up 0.46% at $56.38 a barrel after the opening. Spot gold was down 0.30% to $1,233.81 an ounce on the stronger dollar, while platinum was stable at $1,000 an ounce. At 9.36am the all share was 0.02% higher at 52,568 points and the blue-chip top 40 rose 0.01%. The resource 1...
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