Money SA economy
The JSE ended the week in the black adding 60 points on Friday, boosted by positive consumer data out of the US and record GDP growth for Germany, Europe's largest economy.
At its close the JSE all share index added 0.22%, with platinum miners rising 0.22% and resources gaining 0.21%. Gold miners however, shed 1.19%. Banks fell 1.54%, financials were 0.72% lower, but industrials gained 0.68%. Gold was quoted at $1,212.28/oz from $1,1214.45/oz at the JSE's previous close, while platinum was at $1,520.50/oz from $1,529.50/oz before.
A local equity dealer said: "US consumer confidence rose, easing deflationary risk which is good news, while Germany came out with strong GDP data this morning. This good news filtered into our market, following what has been a rather negative week.
Volumes however, remain light amid continued uncertainty," he said.
Dow Jones Newswires reported that US stocks rose Friday as improving retail sales and consumer sentiment provided a welcome deviation from this week's disappointing data, but continued worries about the global economy kept the gains small.
Investors adjusted their positions following a three-day drop that took the measure 3.5% lower and sent it into negative territory for the year. The slump came as weak economic data suggested the global economy was slowing and reignited fear of a double-dip recession.
