Money SA economy
The JSE was back into red territory on Tuesday tracking negative global sentiment, as investors' enthusiasm over a €750 billion rescue package for Europe cooled.
The local bourse did however, come off its worst levels amid a firmer gold price, while banking stocks also shone on the day.
At its close, the JSE all share index was off 0.53%, with resources 1.42% softer, and platinum miners 2.35% weaker. Gold miners however rallied 5.21% higher. Banks firmed 1.2%, financials were flat, down 0.19% and industrials were 0.2% better off.
Gold was quoted at $1 1219.67/oz from $1 200.17/oz at the JSE's last close. Platinum was at $1 691/oz from $1 692/oz at the JSE's last close. A local equities trader said: "Although in the red, the JSE did come off its worst levels, with gold and banking stocks performing well."
Overall however, the trader noted that global markets were negative on reflection of a massive rescue package for Europe and its long-term implications, while fresh fears over monetary tightening by China also dampened the mood of investors.
