The JSE edged up at lunchtime on Tuesday‚ boosted mainly by diversified miners‚ which shook off their losses of the past two days.
The all share index was up 0.29% to 52‚984 points‚ with the blue-chip top 40 gaining 0.41%‚ but gold and platinum stocks lagged following a trading update by Impala Platinum‚ warning of weaker financial results.
The world’s second-largest platinum producer said late on Monday that it expected headline earnings per share (HEPS) in the year to June to drop between 56% and 75%.
Outside the resources market‚ corporate earnings dominated individual shares‚ with transport and logistics group
Imperial dropping more than 4% while Shoprite perked up after its year-end results.
Europe’s leading markets were higher at midday‚ after a relatively subdued session in Asia‚ where Japan’s Nikkei 225 settled 0.61% lower.
Analysts at Momentum SP Reid Securities said the somewhat range-bound tone across global markets was likely to persist until Friday‚ when US Federal Reserve chair Janet Yellen was expected to provide guidance on the US interest-rates outlook.
Anglo American was up 3.86% to R154.03‚ with BHP Billiton gaining 3.31% to R189.88. Kumba Iron gained 3.37% to R143.43.
Impala Platinum shed 3.62% to R59.57 and Anglo American Platinum lost 2.83% to R403.24. Gold Fields was off 1.27% to R82.93.
Imperial was off 4.25% to R163.92 after it reported a 5% drop in full-year net profit. — TMG Digital/BDlive