Money SA economy
The JSE continued trading weaker at noon on Tuesday in line with its international counterparts, as markets nervously await the release of local and foreign economic data this week, a local trader said.
By 12.05pm local time the JSE all share index was down 1.17%, with platinum stocks shedding 2.96% and resources losing 1.72%. Gold miners were down 1.24%. Banks fell 1.22%, while financial counters shed 0.95% and industrials were down 0.75%. Gold was quoted at $1,217.14 a troy ounce from $1 221.93/oz at the JSE's previous close, while platinum was at $1 492.00/oz from $1 506.50/oz before.
A local trader said that markets were nervous ahead of the release of economic data. "There's lots of economic data coming this week. We continue to see relatively low volumes of trade. We'll probably see more direction later in the afternoon. We're also seeing a big move on the euro today, which has impacted commodities," he said.
Dow Jones Newswires reported that Asian stock markets closed mostly lower on Tuesday, with the yen's rise pressuring exporter shares in Tokyo, knocking the Nikkei Stock Average into bearish territory.
On the JSE, Anglo American (AGL) shed 4.80 rand or 1.77% to 266.00 rand, BHP Billiton (BIL) fell 3.00 rand or 1.44% to 205.50 rand, and Sasol (SOL) lost 4.58 rand to 283.52 rand.
