JSE starts the day directionless

A local trader said that the market was looking very quiet in the morning with little news to sway trade.
At 09:12 local time, the JSE all-share index was virtually unchanged (0,01 percent).
Platinum stocks lifted 0,32 percent, gold stocks took up 0,29 percent and resources edged up 0,10 percent.
Banks collected 0,13 percent, and financials rose 0,12 percent while industrials declined 0,11 percent.
The rand was bid at R8,08/$ from R8.15/$ at the JSE’s close on Wednesday. Gold traded at US$1 646,02 a troy ounce from US$1 635,25 at the JSE’s previous close, while platinum was quoted at US$1 502,50 per ounce, from US$1 481,50 per ounce at the previous close.
Dow Jones Newswires reported that Asian stock markets were mostly lower yesterday, as easing inflation in China failed to overcome worries over fresh stresses in Europe’s economy.
China’s consumer price index rose 4,1 percent year on year in December, slower than the 4,2 percent in November.
Economists polled by Dow Jones Newswires had forecast a median 4 percent. The fifth straight month of moderating inflation gives Beijing more room to implement easing measures, but analysts say the authorities are still likely to move cautiously in applying stimulus to the economy.
Market participants expect the European Central Bank to keep interest rates on hold at its first meeting of the new year, and see ECB President Mario Draghi as damping expectations for a major debt purchasing program over the coming months.
The US economy improved across all regions in the final six weeks of 2011, boosted by strong holiday sales, the US Federal Reserve said in a report on Wednesday.
But the Fed’s studies of regional economies, known as the “beige book”, showed that persistent weakness in housing kept a lid on growth in most areas, while inflation pressure was broadly limited, leaving the door open for more central bank stimulus.
European stock markets may nudge higher to start, with bunds and gilts mixed. The euro and oil futures are a bit higher, with spot gold barely changed. – Reuters.