Money SA economy
The JSE opened broadly weaker on Tuesday, taking its cue from sputtering world stock markets that are struggling to shake off global economic woes.
By 9.41am local time the JSE all share index had fallen 1.27%, with resources 1.51% weaker and platinum miners declining 2.14%. Gold miners were down 0.96%. Banks shed 1.57%, financials edged down 1.34%, and industrials lost 1.01%. Gold was quoted at $1 220.60/oz from $1 221.93/oz at the JSE's previous close, while platinum was at $1 499.00/oz from $1 506.50/oz before.
A trader said the weakness in the local market reflected declining global equities. "There are persistent concerns about global economic woes," the trader said. She said merger and acquisition news failed to boost the negative mood.
Dow Jones Newswires reported that Asian stock markets were mixed on Tuesday, with many markets inching into the green after a shaky start, led by China's market rising on gains in real estate shares.
European stocks opened lower on Tuesday, following a late sell-off on Wall Street, as even a raft of merger and acquisition news fails to boost sentiment.
On Monday, the Dow Jones Industrial Average declined 0.4% to 10 174.41, its third straight session in the red.
