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BP: JSE flat ahead of US payrolls
 
The JSE was only a tad lower in midday trade on Friday ahead of key US nonfarm payrolls data.

By 12pm the JSE all share index declined 0.11 percent, with resources down 0.66 percent, and platinum miners down 0.78 percent. Gold miners lost 1.76 percent.

Banks were 0.76 percent stronger, financials added 0.38 percent, and industrials were 0.17 percent firmer.

The rand was bid at 7.63 to the dollar, unchanged from the JSE's close on Thursday. Gold was quoted at US$1 202.59 a troy ounce from US$1 216.05/oz at the JSE's previous close. Platinum was at $1 541.50/oz from $1 546/oz at the JSE's last close.

"Its pretty quiet ahead of US nonfarms which is forecast to come in a lot better, but lets wait and see," said a local equities trader.

Dow Jones Newswires reported that US stocks are set to open a little higher Friday as traders' position themselves ahead of the key nonfarm payrolls report at 14:30 SA time, said David Morrison of GFT.

He called the DJIA up 20 at 10 275 and S&P 500 up 2 at 1 105. He said that the payrolls are released prior to the open at 14:30 SA time and many were expecting a huge gain in the payroll number, indicating a fall in unemployment.

"While estimates are averaging out at an expected gain of 550 000 jobs, some of the 'whisper' numbers have been as high as 700 000," Morrison added.

European Stocks remain firm ahead of the US employment data.

Asian stock markets were mixed Friday, with buying interest modest in some markets as caution prevailed ahead of crucial US jobs data due later in the day while investors remained concerned about China's economic growth.

"Investors remain undecided on the outlook for Asian markets," said Martin Hennecke, an associate director at Tyche Group Ltd. in Hong Kong.

Japan's Nikkei Stock Average closed down 0.1 percent, while the Shanghai Composite index and Hong Kong's Hang Seng each closed nearly flat for the session.

On the JSE, Anglo (AGL) added 8 cents to 293.45 rand but BHP Billiton (BIL) lost 1.87 rand to 205.54 rand.

Sasol (SOL) gave up a mere 13 cents to 280.33 rand.

Platinum miner Anglo Platinum (AMS) dropped 2.21 rand to 780.79 rand, and Impala Platinum (IMP) fell 2.31 rand or 1.21 percent to 189.39 rand.

Among gold miners, AngloGold Ashanti (ANG) was 4.51 rand or 1.39 percent weaker at 320.59 rand and Gold Fields (GFI) shipped 245 cents or 2.32 percent to 103 rand.

Harmony (HAR) subsided 1.40 rand or 1.85 percent to 74.40 rand, but RandGold (RNG) found 6.60 rand or 74.16 percent to 15.50 rand.

Assore (ASR) dropped 22 rand or 3.19 percent to 668 rand.

Highveld (HVL) added 1.29 rand or 1.83 percent to 71.95 rand, but Kumba Iron Ore (KIO) dropped 1.89 rand to 314.61 rand.

Metal giant Arcelormittal (ACL) lost 2.07 rand or 2.67 percent to 75.45 rand.

Among industrials SAB Miller (SAB) gained 2.22 rand or 1.02 percent to 219.23 rand, AECI (AFE) picked up a rand to 69 rand, but Barloworld (BAW) lost 67 cents or 1.5 percent to 44.12 rand.

Sappi (SAP) gained 85 cents or 2.92 percent to 30 rand and Mondi (MND) added 125 cents or 2.69 percent to 47.75 rand.

Telecommunications group Telkom (TKG) added 80 cents or 2.19 percent to 37.30 rand. The group on Friday confirmed the exit of its group CEO Reuben
September.

The company said September would retire from his position and resign his directorship at the expiry of his contract in November 2010.

Retailer JD Group (JDG) dropped 52 cents or 1.22 percent to 42.13 rand.

Banker Nedbank (NED) gained 1.35 rand or 1.04 percent to 131.60 rand, and Absa (ASA) garnered 1.45 rand or 1.14 percent to 128.45 rand.

Pioneer Foods (PFG) wavered 1.99 rand or 4.74 percent to 40.01 rand.

Media group Naspers (NPN) lost 4.35 rand or 1.47 percent to 290.57 rand. - I-Net Bridge
Source