JSE opens in red on tracking US markets

concerns.
On the JSE, Anglo-American fell R2,16 to R335,44, Sasol lost R3,14-R357,55 and BHP Billiton was down R1,84-R269,25.
Among gold counters, Anglogold Ashanti profited R2,93-R311,94 rand and Harmony was 65 cents weaker at R92,55.
Platinum miner AngloPlatinum shaved off R2,94-R622,06 while Northam Platinum fell 50 cents or 1,13 percent to R43,65.
African Rainbow Minerals was R1,82 higher to R203,19.
Optimum coal was down 25 cents to R28,75. In the industrial sector, SAB gave up R1,42 -R253.
Barloworld gained R2,06 or 3,07 percent to R69,06.
The industrial brands management group Barloworld on Tuesday reported a 255 percent rise in headline earnings per share from continuing operations to 144,3 cents for the six months ending in March.
Diluted headline earnings per share from continuing operations were 143,5 cents from 40,4 cents before.
Total diluted headline earnings per share rose to 143,5 cents from 6,6 cents.
Revenue was 17 percent higher at R23,6 billion, while operating profit increased 44 percent to R854 million.
An interim dividend of 50 cents per share was declared, up 150 percent from the previous year’s 20 cents.
Telkom was up 16 cents to R38,65 while mobile telecoms operator MTN fell 81 cents to R140,19.
Technology stock Altron added R1.20 or 4,17 percent to R30. Astral Foods was R1,39 or 1,05 percent higher at R134,39.
Construction group Murray and Roberts gave up 37 cents or 1,39 percent to R26,21 while Aveng added 40 cents or 1,18 percent to R34,35.
PPC fell 60 cents or 2,37 percent to R24,70.
The cement maker yesterday announced diluted headline earnings of 71,3 cents for the half-year ending in March, from 114 cents previously.
Diluted earnings per share declined to 71,3 cents, from 114,6 cents in 2010.
Revenue declined to R3,26 billion from R3,42 billion previously due to lower sales volumes across all divisions and selling price increases that were less than the rate of cost inflation.
PPC said its total cement volumes declined by 7 percent for the period. Operating profit decreased by 26 percent to R823 million and group earnings before interest, taxes, depreciation and amortisation (ebitda) declined to R1,037 billion from R1,296 billion.
In financial services, banking group Absa Bank was 88 cents weaker at R135,15 and RMB Holdings was off 24 cents to R27,24.
Retail stocks saw Mr Price losing 83 cents or 1,26 percent to R64,96 and Pick n Pay giving up 30 cents to R41,30.
The JD Group rose 35 cents to R45,90. Naspers was down R5,25 or 1,33 percent to R388,75.
Asian stocks were also mixed, weighed on by the weakness in Japanese utilities.
By 9.13am local time, the JSE all-share index was 0,43 percent lower, with resources down 0,47 percent, industrials off 0,45 percent, and banks down 0,39 percent.
Financials dropped 0,29 percent, while platinum miners shed 0,18 percent. Gold miners gained 0,23 percent. The rand was bid at R6,99/$ from R6,94/$ at the JS’s close on Monday.
Financials dropped 0,29 percent, while platinum miners shed 0,18 percent. Gold miners gained 0,23 percent. The rand was bid at R6,99/$ from R6,94/$ at the JSE’s close on Monday.
Gold was quoted at US$1 495,40/oz from US$1 503,11/oz at the JSE’s previous close, while platinum was at US$1 764/oz, from US$1 767,50/oz previously.
“We had a good recovery on Monday but US markets closed softer in the last hour of trade so I think that’s why were down,” a local trader said, adding that the “slightly” stronger rand could hold back some of the randhedged stocks.
Dow Jones Newswires reported that Asian stock markets were mixed on Tuesday as investors were cautious after yet another downturn on Wall Street, with the Japanese market weighed by weakness in its utilities stocks.
Australia’s S&P/ASX 200 added 0,6 percent, Japan’s Nikkei Stock Average was down 0,2 percent, South Korea’s Kospi Composite was off 0,1 percent, China’s Shanghai Composite Index was up 0,6 percent, Hong Kong’s Hang Seng Index fell 0,1 percent and India’s Sensex was up 0,3 percent.
Markets in Singapore, Malaysia, Indonesia and Thailand were shut for a public holiday.
Dow Jones Industrial Average futures were down seven points in screen trade.
Investors remained wary after Wall Street extended its losses on Monday, and as European policymakers continued to debate about how to help debt-stricken Greece.
“Early indicators are that investors will maintain the caution and nervousness of recent days,” said Ric Spooner, chief market analyst at CMC Markets in Sydney.
“The nature, timing and extent of any restructuring of Greece’s sovereign debt continue to be a source of uncertainty,” he said.
In Tokyo, weak Wall Street leads and continuing worries over a crippled nuclear complex weighed on the market.
Sentiment was also hurt after Morgan Stanley Capital International on Monday said it would delete 20 Japanese stocks from its MSCI Global Standard Indices on May 31. inet. – inet