The JSE opened flat on Thursday as miners recorded early gains in subdued trade while banks and financials retreated. Market focus was on the European Central Bank (ECB) meeting later in the day. The gold price remained range-bound, with a mild upside bias due to a slightly weaker dollar. Gold shares were higher on Thursday on a slightly weaker rand. Brent crude dropped 0.55% to $52.32 a barrel. At 9.31am the all share was 0.09% higher at 51,552.40 points and the blue-chip top 40 rose 0.13%. Platinums added 1.04%, the gold index 1.03% and resources 0.94%. Banks lost 0.84%, property 0.53% and financials 0.38%. The Dow Jones industrial average closed 0.22% higher on Wednesday. Morgan Stanley and Yahoo both beating profit estimates. In Asia, the Nikkei 225 was 1.39% higher and the Hang Seng added 0.35%. Investor uncertainty about the timing of a US rate hike weighed on global markets. Investors remained cautious as market valuations were relatively high compared with global economic gr...
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