Money SA economy
The JSE opened in the red on Thursday lacking any real direction, amid mixed international markets.
By 9.20am, the JSE all share index was 0.27% softer, with resources 0.12% worse off, and platinum miners 0.6% lower. Gold miners dropped 0.44%. Banks added 0.48%, financials gained 0.21%, but industrials were 0.68% down.
Gold was quoted at $1 188.24/oz from $1 197.53/oz at the JSE's last close. Platinum was at $1 581.50/oz from $1 607/oz at the JSE's last close.
A local trader said: "The market is uncertain this morning and we have seen a mixed bag at opening. Asia was softer, but Europe has opened in positive territory. Dow futures has ebbed and flowed. I think we may just drift today amid a lack of real direction."
European stocks opened firmer on Thursday, after US stocks managed to pare heavy losses by the close Wednesday. However, the euro and core European government bond yields remain under pressure according to Dow Jones Newswires.
On Wall Street, stocks fell on Wednesday, led by such industrial companies as Caterpillar, Boeing and 3M as investors worried that the weak euro could hurt the profits of companies that do business in the euro zone.
In Asia, too, shares were lower, with sentiment still fragile amid ongoing worries over euro-zone debt.
