Money SA economy
The JSE was slightly lower in midday trade on Friday on the back of profit taking and a strong rand, defying the generally positive sentiment among global markets.
By 12pm the JSE all share index was down 0.11%, with resources lower at 0.40%, and platinum miners 0.19% down. Gold miners shed 1.29%. But banks climbed 0.60% and financials added 0.43%. Industrials shed 0.13%. Gold was quoted at $1,214.70/oz from $1,215.03/oz at the JSE's last close. Platinum was at $1,562.50/oz from $1,548.50/oz at the JSE's last close.
A local equities trader said:" The SA stocks remained relatively lower as traders booked profits after it rose quite strongly for the past two consecutive days. The firmer rand also impacted negatively on the JSE, particularly the mining stocks."
Meanwhile, Dow Jones Newswires reports that European stock markets nudged a little higher on Friday, with Wall Street's rally Thursday on offering support as worries start to ease over Europe's debt situation.
Asian markets ended higher Friday as investor optimism spurred by Wall Street's strong performance on Thursday helped lift financial stocks and exporters, with energy plays getting a bump from higher crude-oil prices.
By noon on the JSE, Anglo added 69 cents to R299.30, while BHP Billiton slipped R1.69 to R213.80. Sasol shed 50 cents to R276.50.
