Money SA economy
The JSE pulled back on Wednesday, giving up earlier gains as global markets dictated direction and US economic data took centre stage.
The JSE all share index shed 0.33%, as platinum miners plunged 2.47%, but gold miners rose 0.94%, and resources eked out 0.02%. Banks weakened 1.42%, financials lost 0.85% and industrials edged down 0.41%. Gold was quoted at $1 161.05/oz from $1 159.64/oz at the JSE's previous close, while platinum was at $1 536.50/oz from $1 536.00/oz before.
A trader said the local market failed to capitalise on earlier gains as worse than expected US durable goods data put a damper on global markets. The trader said investors were tracking global equities as the Standard & Poor's 500-stock index struggled to break through the key level.
She said the market also seemed to be consolidating after strong performance in the past two weeks.
Dow Jones newswires reports that US stocks flitted between small gains and losses on Wednesday as investors worried about mixed earnings reports and a drop in demand for US manufactured durable goods.
On the JSE, Anglo American Plc rose R1.77 to R291.77, and BHP Billiton gained R2.41 or 1.06% to R228.90. But Sasol slumped R6.00 or 2.04% to R288.50.
