Money SA economy
The JSE ended lower on Tuesday as dismal US economic data weighed on the local market, giving up some gains following a strong run on Monday.
The JSE all share index fell 0.89%, with banks slumping 3.22% and financials falling 2.06%. Resources lost 0.07% and platinum counters shed 0.66%, but gold shares rallied 3.16%. Industrials slipped 1.10%. Gold was quoted at $1,187.15/oz from $1,175.16/oz at the JSE's previous close, while platinum was at $1,591.00/oz from $1,564.00/oz before.
A trader said the US consumer, housing and factory orders weighed on market sentiment, but that the data was unlikely to have a long-term effect on the market.
The trader said there was profit taking following a strong run on Monday.
Dow Jones newswires reports that US stocks declined on Tuesday following a weaker-than-expected round of data on the consumer, housing and factory orders, while disappointing earnings from Procter & Gamble and Dow Chemical also weighed.
Investors are cautiously picking apart every data point as they try to assess where they want to be positioned ahead of the government's Friday report on July nonfarm payrolls as well as a Federal Reserve meeting next week.
On the JSE, Anglo American Plc lost R1.99 to R301.00, and Sasol shed R7.50 or 2.52% to R290.00. But BHP Billiton gained 75 cents to R234.44.
