Stocks ended a touch lower on Friday – pulling back from a new all-time high of 32 440.9 achieved earlier in the day – in tandem with overseas markets as a rising oil price increased fears of global inflation, traders said.

The JSE's broader all share index ended 0.05 percent lower at 32 136.150. Resources were neither here nor there (-0.02 percent), while the gold and platinum mining indices added 2.30 percent and 1.09 percent respectively.

Banks were down 0.44 percent, financials lost 0.59 percent but industrials inched up 0.12 percent.

The rand was bid at 7.68 to the dollar from 7.56 when the JSE closed on Thursday, while gold was quoted at $874.30 a troy ounce from $882.75 at the JSE's last close.

"Overall the market is pressured by a weaker start in Wall Street because of concerns that rising oil prices will bite into global growth," a Cape Town-based trader said.

"Resources are down despite a weaker rand, but remember they have had a strong runs in recent days so profit taking is probably setting in," the trader added.

Embattled consumer foods and healthcare products group Tiger Brands surprised on the upside after its drug supplies business Adcock Ingram Critical Care took a R53.5-million fine from local antitrust authorities for admitting a role in the fixing of medicine prices supplied to hospitals.

But traders said the fine, which is 8 percent of AICC's annual turnover, was less than expectations as most had expected a fine of 10 percent of AICC turnover.

"Tiger Brands' market cap is R26-billion, R54-million nothing. It's just 0.2 percent of its market cap. Besides the stock is still looking a bit cheaper because it has been trading around these levels for a while now," one trader said.

Shares in Tiger Brands ended 2.94 percent higher at 156.47 rand. It earlier said interim headline earnings per share, which include the R53.5-million fine imposed on AICC, will rise by as much as 15 percent.

Also in the news, gold miner Gold Fields edged up 16 cents to 104.83 rand. Gold Fields earlier reported March quarter headline earnings of R1.246-billion or 1.91 rand a share, more than double December quarter's headline earnings of R456-million, or 70 cents a share.

The company, which has recently been plagued by a spate of mine fatalities, said attributable gold production declined by 14 percent to 827 000 ounces, largely due to power disruptions in South Africa.

DRDGold jumped 11.51 percent to 6.59 rand. It reported a March quarter net profit of R132-million from R84.5-million recorded in the December quarter.

The company, which is battling to breathe new life into its ERPM operations on the East Rand, said headline earnings per share were eleven times stronger than the December quarter's 2.4 cents at 27.5 cents.

This was despite a nine percent fall in production to 70 378oz.

Operating profit was up 199 percent to R142.2-million while cash operating costs were three percent lower at R356.4-million.

Among other gold counters, AngloGold Ashanti climbed 3.05 percent to 304 rand and Harmony rallied 3.79 percent to 95.49 rand.

On the resource index, Anglo American was down 1.17 percent to 509.50 rand but BHP Billiton rallied 31 cents to a fresh record closing high of 297 rand. The Melbourne-based diversified miner earlier touched a new all-time high of 299.77 rand.

A local trader said Billiton had failed to get through the 300 rand level, and that had prompted a pullback, which spilled over into the rest of the resources sector.

Petrochemicals group Sasol shed 3.21 rand to 476.99 rand despite a higher oil price.

Platinum miner Anglo Platinum was up 10 rand to 1275 rand and Impala Platinum improved 2.48 rand to 342.48 rand.

Elsewhere, rumoured takeover target MTN Group lost 1.20 rand to 153.30 rand.

Industrial group Barloworld advanced 3.43 percent to 114.70 rand. Late on Thursday the group said that a strong operating performance in the southern African equipment business and the non-recurrence of STC on the 2007 special dividend were expected to result in an increase in headline earnings per share from continuing operations by between 100 percent and 110 percent for the half year to March 2008.

Among financials, Old Mutual was down 2.31 percent to 18.20 rand, while Liberty was off 47 cents to 73.20 rand.

Among banks, Absa shed 90 cents to 92.38 rand and Standard Bank dropped 50 cents to 88.50 rand.

I-Net Bridge