Money SA economy
The JSE closed mixed as the benchmark index recovered some of its earlier steep losses, while financial and bank stocks remain resilient.
The JSE all share index ended weaker at 0.22%, with resources 1.11% worse off, and gold miners 1.38% lower. Platinum miners gained 0.87%. Banks added 1.56%, financials gained 0.99%, and industrials were 0.08% stronger. Gold was quoted at $1,219.16/oz from $1,226.58/oz at the JSE's previous close, while platinum was at $1,548/oz from $1,554/oz at the JSE's last close.
A local equities trader said: "We have managed to move off worse levels."
The trader said at some point on Wednesday the all share index plummeted 300 points. The market was tracking global markets, especially the US.
On the JSE, Anglo lost R7.43 or 2.49% to R290.41 and BHP Billiton was R3.30 or 1.56% weaker at R208.10. Sasol gained R2.49 to R278.74.
Dow Jones newswires reports that US stocks edged up on Wednesday, erasing part of Tuesday's slide as easing concerns about overseas economies and a better-than-expected report on pending home sales helped lift sentiment.
