Money SA economy
A downgrade of Portugal's sovereign credit rating by Fitch Ratings led the JSE lower on Wednesday, amid negative market sentiment abroad.
At 5pm, the JSE all share index had declined 0.17%, with gold miners 1.09% lower. Platinum miners however, added 0.6%, but resources were flat, down 0.06%. Banks were 0.19% worse off, financials gave up 0.10% and industrials moved 0.32% lower.
Gold was quoted at $1 091.51/oz from $1 100.92/oz at the JSE's last close. Platinum was at $1 586/oz from $1 602.50/oz at the JSE's last close.
A local trader said: "The downgrade of Portugal's sovereign credit rating to AA- weighed on the market, with sentiment affecting the currency market, while the US also ticked lower at its opening."
Dow Jones Newswires reported US stocks opened lower Wednesday as a downgrade to Portugal's sovereign credit rating sparked renewed concerns over the euro zone.
On the JSE, Anglo American firmed 60c to R300.50, but BHP Billiton slipped 34c down to R246.11. Sasol bagged 50c to R282.50.
