Money SA economy
The JSE was lower in noon trade on Wednesday on the back of some profit-taking after Tuesday's rally.
By 12pm the JSE all share index was down 0.43%, with resources giving up 1.20%, and gold miners declining 1.32%. Platinum miners however, added 0.37%.
Banks were flat, with financials 0.11% firmer and the industrial index up 0.14%.
Gold was quoted at $1,134.05 a troy ounce from 1,137.53/oz at the JSE's last close. Platinum was at $1,715.50/oz from $1,707/oz at the JSE's last close.
"We're seeing quite a bit of profit-taking after yesterday's rally, with resources easing back a bit. Although Asian markets ended higher, European markets and US futures are lower, so we're all pretty much in the same boat at the moment and we could see a further weakening before the end of the session," a local equities trader said.
Dow Jones Newswires reported that European stocks were mostly lower Wednesday, as investors adopted a cautious stance ahead of Thursday's key interest rate decisions from the Bank of England and European Central Bank.
Asian markets closed mainly higher Wednesday, with resource shares among the bigger advancers in Hong Kong and strength in financials lifting stocks in Japan, but China real estate developers fell on fears of possible further monetary tightening from the government.
Meanwhile, US stocks are called to open lower Wednesday, in line with US futures, says David Morrison at GFT. He calls the DJIA down 28 points at 10,942 and the S&P 500 down four at 1185.5.
On the JSE, Anglo American was R3.70 or 1.12% lower at R327.59 and BHP Billiton shed R5.51 or 2.13% to R253. Sasol gave up 202 cents to R308.98.
