Money SA economy
The JSE opened flat on Friday, with the market swinging from a slight loss to a small gain within an hour of trade.
At 9.46am local time the JSE all share index had gained 0.24% and resources rose 0.17%. Platinum miners fell slightly 0.06%, gold miners added 0.10%. Banks gained 0.07%, financials were flat (-0.01) with industrials 0.45% stronger. Gold was quoted at $1 246.19/oz from $1 243.47/oz at the JSE's previous close, while platinum was at $1 562.00/oz from $1 554.50/oz at the JSE's last close.
A local trader said local investors focused on the trading updates of US companies overnight. He said the market realised that the proposed Australian tax would not be as onerous as was previous feared. The market was very quiet, the trader said.
Globally, the Dow Jones Industrial Average shed 1.4% on Thursday, according to the Dow Jones Newswires.
In the US, the final release of US first-quarter GDP is expected on Friday, followed by the University of Michigan confidence index.
