The JSE was flat in midday trade on Thursday. The banking index was the biggest loser with the rand slightly weaker amid uncertainty about mixed signals from the US Federal Reserve. The all share was 0.05% in the red, weighed down by the weaker banking (-1.25%), financial (-0.6%) and industrial (-0.24%) indices. But platinums were up 2.73% and gold stocks 1.32% firmer thanks to precious metals prices spiking. The rand was firmer against the dollar in earlier trade as the greenback came off 14-year highs against a basket of major currencies after US Federal Reserve policy meeting minutes signalled uncertainty about the policy direction of the incoming Donald Trump administration. Trump will be inaugurated as president on January 20. Nedbank was the biggest loser in banking, down 1.56% at R236.56 from Wednesday’s close. First Rand lost 1.53% to R53.34, Barclays Africa 1.3% to R169.47 and Standard Bank 1.05% to R149.96. MMI holdings and Sanlam shed 1.88% to R24.55 and Sanlam gave up 0....

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00.