Picture: JSE
Picture: JSE

THE JSE was slightly higher in thin volume trade at midday on Wednesday, as investors awaited the US central bank’s decision on interest rates due this evening.

Analysts believe the most likely outcome, when the Federal Reserve wraps up its policy meeting, is that it holds interest rates steady. But in its statement, the Fed could be more hawkish, a tone that would suggest the Fed could raise rates in the coming months.

At 12pm, the all share had risen 0.46% to 52,491.70 points and the blue-chip top 40 index had gained 0.49%.

Gold miners were up 0.96% while resources added 0.82%. Banks and financials climbed 0.80% and 0.49% respectively. Platinums were down 0.48% but industrials were up 0.40%.

European stocks were higher. By noon (CAT) the London FTSE 100 had firmed 0.24%, the Paris CAC 40 was up 0.44% and the German DAX 30 had added 0.80%.

Among individual shares on the local bourse, African Rainbow Minerals lost 5.57% to R84.89 and Kumba Iron Ore fell 3.64% to R81.42.

Bidvest rose 2.72% to R354.09.

Lonmin was down 3.44% to R32.83 and Northam lost 0.94% to R43.25, while Impala Platinum was up 1.33% to R42.64.

Discovery lost 1.25% to R109.61.

Shoprite rallied 2.36% to R168.19, while Massmart slipped 2.24% to R117.92.

Basil Read jumped 8.08% to R3.88.

Illovo Sugar fell 2.39% to R20.01, while Nampak climbed 2.27% to R19.84.