Money SA economy
The JSE had reversed earlier gains by noon on Monday in line with global stock markets, as fears over the sustainability of global recovery resurfaced.
By noon local time the JSE all share index had fallen 0.16%, with platinum miners declining 0.54% and gold miners shedding 0.16%. But resources gained 0.04%. Banks fell 0.08%, financials were 0.23% lower and industrials lost 0.29%. Gold was quoted at US$1,223.12 a troy ounce from US$1,212.28/oz at the JSE's previous close, while platinum was at $1,533.50/oz from $1,520.50/oz before.
A trader said the local bourse pulled back as it entered the midday session, tracking weaker world markets, especially US futures and European equities. He said Japan reported downbeat economic data that raised concerns about the global economic recovery.
Dow Jones Newswires reports that Asian stock markets were mixed on Monday with weaker-than-expected economic growth from Japan weighing on sentiment across the region, though gains in Chinese shares were helping to stem the losses.
European stocks fell, unable to hold onto early gains as worries about the pace of the global economic recovery offset upbeat corporate news. The FTSE 100 was last 0.24% lower.
On the JSE, Anglo American Plc (AGL) added 1.40 rand to 271.90 rand, BHP Billiton (BIL) gained 15 cents to 221.80 rand and Sasol (SOL) was flat at 289.50 rand.
