Picture: MICHAEL ETTERSHANK
Picture: MICHAEL ETTERSHANK

THE JSE was weaker at midday on Tuesday after local markets were closed over the Easter break.

Stocks on the Johannesburg exchange closed lower on Thursday and were not open on Monday. Tuesday’s trading was expected to offer moderate gains across the board as risk appetite remained good.

"It seems like the market hasn’t ignited yet, and we’re still dragging from the three-day weekend," said Meridian Equity Partners senior manager Jonathan Corpina.

Mr Corpina said the market could see a week’s worth of trading between Wednesday and Friday, with important data releases due and as investors balance their portfolios for the end of the month and quarter.

At 12pm the all share had lost 0.81% to 51,901.20 points and the blue-chip top 40 index was down 0.78%.

Platinums had lost 4.29% and resources 1.99%. Banks and gold miners were flat. Financials gave back 0.46% and industrials slipped 0.58%.

In Europe, stock markets were slightly higher ahead of a speech by Federal Reserve chairwoman Janet Yellen. Ms Yellen was due to speak at the Economic Club of New York on Tuesday evening. Investors will pay close attention to the tone of the speech especially after hawkish commentary by several Fed officials last week, which led markets to believe that a rate hike in the US could come as soon as April.

At noon (CAT) the FTSE 100 was up by 0.11%, the Paris CAC 40 by 0.57% and the German DAX 30 by 0.25%.

Among individual shares on the JSE, South32 was 4.68% weaker at R16.89. Kumba Iron Ore tumbled 8.76% to R65.69. ArcelorMittal plunged 14.78% to R7.67.

Anglo American Platinum fell 4.99% to R347.71. Impala Platinum (IMP) was down 4.51% to R43.45.

Group Five rose 1.52% to R21.98 and Murray & Roberts climbed 1.57% to R12.30.

Telkom slid 5.52% to R52.59.

Tiger Brands slumped 3.18% to R316.02.

Taste rallied 4.56% to R2.52.