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JSE closes down amid little direction

The JSE ended on Wednesday marginally weaker, amid very little direction.

Global markets had earlier relied on US corporate earnings results to provide further direction in the absence of any major economic news.

The JSE all share index closed down 0.25%, with resources 0.75% lower, gold miners dipped by 0.24%, but platinum miners were 0.77% firmer.

Banks dropped 0.34% and financials shipped 0.23%, but the industrial index collected 0.26%.

 

Gold was quoted at $1 142.76/oz from $1 140.18/oz at the JSE's last close.

Platinum was at $1 732/oz from $1 711/oz at the JSE's last close.

A local equities trader said: "We have drifted slightly into the negative today amid very little economic news for significant direction.

"Eyes turned to the US at its opening hoping for company earnings results to provide further direction, however even this resulted in very little impact on the local market," he said.

Dow Jones Newswires reported that the technology sector led a modest gain in the stock market in the US on Wednesday morning following an earnings report from Apple that far exceeded analysts' expectations.

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