Money SA economy
The JSE languished in the red today in directionless trade, with pockets of profit taking, but some interest in select areas of the market still evident.
At the close, the JSE all share index was down 0.81%, with resources off 1.69%, gold miners 1.5% weaker and platinum miners 0.40% softer. Banks wavered 0.76%, financials slipped 0.62%, but financial were virtually unchanged - off just 0.02%.
Gold was quoted at $1,104.92/oz from $1,110.02/oz at the JSE's last close. Platinum was at $1,615.50/oz from $1,616.50/oz at the JSE's last close.
A local trader said the market appears to be at levels where it is looking a bit stretched, and there is not much fresh news to offer direction. "We are just waiting to see what further news comes out of the US," said the trader. "It does look in the short term that the market is overbought. We are seeing a bit of profit taking, but the market is pretty mixed. The likes of MTN, Nedbank and Naspers and Exxaro have been goof performers," he added.
"But the Dow now opens an hour earlier, so that gives us a bit more direction before we close," he added. The US moved to daylight saving time at the weekend.
Dow Jones Newswires reported US stocks wobbled Monday, as declining crude-oil prices dragged energy stocks lower and technology stocks lagged following reports that Google may close its Chinese-language site.
On the JSE, Anglo American dropped R6.55 or 2.15% to R298.35 and BHP Billiton fell R5.90 or 2.38% toR 242. Sasol shed R1.50 to R283.50.
