Johannesburg - The JSE did not move much on Thursday morning, with investors waiting in line with markets elsewhere in the world for news about possible fiscal stimulation by the European Central Bank (ECB) at its meeting later in the day.
Resources shares were somewhat higher after investors started buying again after the sharp pullback of the previous two days, but financial shares were softer after profit-taking on some of the stocks which have made strong moves over the past seven days. Sanlam [JSE:SLM] dropped sharply after lacklustre results indicating difficult trading conditions in the South African market.
The result was that the All-share index was only 0.12% higher at 51 546 points and the Top 40 index gained 0.04% to 45 636 points. The Financial index was 1.13% down, but the Resources index gained 1.78%. The Industrial index showed very little movement and dropped only 0.07%.