Johannesburg - The JSE was barely changed by noon on Thursday, as the negative mood in world stocks was offset by strong commodity prices, which have bolstered platinum and gold counters.
By 12:01 local time the JSE all share index was flat. Gold miners rose 0.61%, platinum miners gained 0.84% and resources added 0.28%. Industrials were also flat, but financials were 0.57% lower and banks lost 0.81%.
The rand was bid at 7.09 to the dollar from 7.07 at the JSE's close on Wednesday. Gold was quoted at US$1 272.44 a troy ounce from US$1 269.51/oz at the JSE's previous close, while platinum was at $1 603.50/oz from $1 589.00/oz at the JSE's close previously.
Kevin Algeo, portfolio manager at Imara SP Reid, said the local market held up well thanks to high commodity prices and the weak dollar despite lower world equity markets.
Algeo said the start of the futures close-out had a muted effect on trading, but he warned that he expected the market to pull back in line with global markets.
Dow Jones Newswires reported that a late rally on Wall Street on Wednesday did little to buoy Asian markets on Thursday, and there was little movement in early European trade either.
Asian stock markets were mostly lower though Japanese exporters continued to benefit from a weaker yen after Japanese authorities' currency market intervention on Wednesday.
Japan's Nikkei Share Average closed 0.07% weaker, and the Hong Kong Hang Seng index ended down 0.16.
European stock markets were little changed after a downbeat session in Asia curbed enthusiasm, leaving participants wary of building positions ahead of the day's economic data. In London the FTSE 100 index was last down 0.22%.
