Money SA economy
The JSE retreated in morning trade on Tuesday in line with gloomy global equities, which looked nervous on renewed concerns over Europe.
At 9.47am local time the JSE all share index had lost 0.67% and resources fell 0.92%. Platinum miners dropped 0.48% and gold miners shed 1.23%. Banks moved 0.41% lower, financials edged down 0.50% and industrials were 0.51% weaker. Gold was quoted at $1 237.07/oz from $1 253.39/oz at the JSE's previous close, while platinum was at $1 591.50/oz from $1 604.50/oz at the JSE's last close.
A trader said news overnight in Europe turned the positive mood, leaving global stocks including Wall Street and Asian stocks weaker. On Monday, Fitch Ratings' downgrades of French banking giant BNP Paribas to AA- from AA reminded investors of Europe's ongoing travails.
Standard & Poor's also reviewed seven Spanish banks, stroking concerns about their health.
Globally, Asian shares were mostly lower on Tuesday as investors took a breather after sharp gains the prior session, with demand ebbing after Wall Street pulled back on Monday.
Wall Street weakened on Monday.
European stocks opened lower on Tuesday, following lacklustre sessions in Asia and on Wall Street.
On the JSE, Anglo gave up R1.70 to R299.50, and BHP Billiton lost R2.78 or 1.24% to R221.56. Sasol declined R3.00 or 1.01% to R293.00.
