JSE flat at the start of busy week

The JSE was flat at midday on Monday as caution pervaded global markets on the eve of an eventful start to December.

At 12pm‚ the all share was down 24.40 points to 51‚612.90 and the blue-chip top 40 index had risen by 12.90 points.

Leading indices on the bourse were mixed. Resources were down 4.35%‚ platinums had lost 2.46% and gold shed 3.06%. Industrials and financials added 0.44% and 0.16%‚ respectively.

European stock markets were mixed.

By noon (CAT)‚ the London FTSE 100 was down 0.27%‚ the Paris CAC 40 had risen 0.3% and the German Dax 30 climbed 0.71%.

On Thursday‚ the European Central Bank announces whether it will extend its quantitative easing programme.

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Friday sees the release of US nonfarm payrolls data. The data will have a bearing on whether the US Federal Reserve decides to hike interest rates at its last meeting of the year.

Locally‚ the possibility of a downgrade from ratings agencies Fitch and Standard & Poor’s will keep investors on tenterhooks. The two agencies announce their decisions on Friday.

Among individual shares on the JSE‚ BHP Billiton fell 4.95% to R165.38.

Kumba Iron Ore plunged 9.96% to R45.91.

Sibanye was down 1.89% to R18.64.

Northam Platinum tumbled 8.78% to R22.12.

Alexander Forbes Group gave back 5.39% to R7.19.

Curro added 1.08% to R50.49.