Money SA economy
The JSE ended the week on a poor note on Friday as wary investors "cleared positions" ahead of the holiday in the US and kept an eye on the strong rand.
The JSE all share index ended 0.90% weaker, with resources shedding 1.51% and platinum miners lost 1.42%. Gold miners declined 1.44%. Banks also lost 0.31%, financials gave up 0.23%, and industrials finished 0.62% in the red. Gold was quoted at $1,205.91 a troy ounce from $1,215.03/oz at the JSE's last close. Platinum was at $1,555.50/oz from $1,548.50/oz at the JSE's last close.
The US markets will be closed for Memorial Day on Monday.
A local equities trader said: "We have closed weaker on the day. This pullback is not surprising given the strong rand, which hit mining stocks in particular, the weak opening in the US today (on Friday)."
The trader also said local investors were taking a cautious stance and were "clearing positions" ahead of the weekend and holiday in the US on Monday.
Dow Jones newswires reports US stocks slipped on Friday as discouraging consumer spending and Chicago area manufacturing activity tugged down sentiment on the final day of trading in a bleak month for the market.
Asian markets ended higher on 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.
On the JSE, Anglo shed R4.61 or 1.54% to R294.00, while BHP Billiton lost R4.26 or 1.98% to R211.23. Sasol gave up R1.50 to R275.50.
