Money SA economy
The JSE gave up some of its earlier gains on Thursday, failing to keep the strong momentum seen in the morning session after the Dow broke through the key 10 000-point mark overnight.
At its close, the JSE all share index had gained 0.49%, with resources 0.26 firmer. Platinum miners gained 0.49%, but gold miners gave up 1.3%. Banks added 1.25%, financials profited 0.94% and industrials gained 0.49%.
Gold was quoted at $1 201.68/oz from at $1 194.07/oz at the JSE's previous close, while platinum was at $1 528/oz from $1 515.50/oz at the JSE's last close.
A local trader said the local market rallied strongly early today, but there was no real momentum to push it even higher.
The trader said the bourse could be using the rally to sell into, suggesting that investors do not believe gains on Wall Street are sustainable.
He said the US market did not react to the US jobless claims data and retail sales figures.
Dow Jones Newswires reported that US stocks climbed on Thursday, as better-than-expected jobs data and encouraging retail sales fuelled optimism over the US economic recovery.
The euro strengthened after European Central Bank President Jean-Claude Trichet reiterated support for European bank stress tests and said investors were too pessimistic on the euro-zone's ability to deal with the sovereign debt crisis.
However, Trichet also said the region's economic recovery would likely be uneven.
