JSE remains flat amid cautious trade
THE JSE struggled to find a decisive path at midday on Tuesday, with dealers finding little reason to push the share market further after a sturdy 4.33% gain in April.
The all share index was relatively flat (0.09%) at 54,687.40 points, as was the blue-chip top 40 index.
"There is limited conviction even as we remain in an upward mode. Global equities generally appear overbought in the short term," Regenesys Investments CE Devin Shutte said.
Still, bargain hunting was visible in selected mining stocks such as Impala Platinum and Lonmin despite the relatively static platinum price, which stood at $1,144.29 per ounce.
Europe’s major stock market indices were similarly flat at midday, while US stock futures suggested a moderately weaker session on Wall Street later in the day.
Among some individual shares on the local bourse, BHP Billiton shaved off 1.57% to R290.45 but African Rainbow Minerals was up 3.08% to R109.86.
The heavily weighted industrial stock SABMiller was off 1.26% to R634.68.
The heavily sold down Implats was up 3.49% to R69.65, with Lonmin recovering 3.82% to R27.19.
Truworths was up 1.74% to R90.45, with rival Foschini gaining 1.85% to R177.33.