Money SA economy
The JSE ended weaker in quiet trade on Monday as hesitant investors waited on the sidelines because the US markets are closed for the Independence Day holiday.
At its close, the JSE all share index fell 0.50%, with resources down 1.51% and platinum miners 0.05% lower. Gold miners lost 0.28%. Banks were up 0.30%, and industrials gained 0.26, but financials were flat (-0.05%).
Gold was quoted at $1 206.25/oz from at $1 205.96/oz at the JSE's previous close, while platinum was at $1 507.50/oz from $1 499.50/oz at the JSE's last close.
Kevin Algeo, portfolio manager at Imara S P Reid, said the local market had a quiet day on the back of the US public holiday. Algeo also said investors remained tentative as there was not much economic data or corporate news, both locally and internationally.
Dow Jones Newswires reported that European stock markets were flat on Monday, unable to make headway as fears about global growth prospects continued to dent sentiment, prompting market participants to flee into safer assets such as government bonds.
Asian markets ended mixed on Monday, with Chinese stocks dragged lower by worries of economic slowdown, while Japanese consumer finance firms were buoyed by hopes for relaxed lending laws.
Friday's losses on Wall Street and slightly weaker-than-expected US jobs data dampened sentiment, while trading volumes were weak in several markets as investors stayed on the sidelines ahead of the Independence Day holiday in the US on Monday.
