Money SA economy
The JSE closed out Tuesday's session in the black, arresting earlier losses, boosted by firmer US stocks which were encouraged by a better than expected consumer confidence reading.
By 5.00pm local time the JSE all share index had firmed 0.41%, with Gold miners 1.38% better off. Resources declined 0.14% and Platinum miners shed 2.11%. Banks grew 1.12%, financials gained 0.61% and industrials were also 0.82% stronger. Gold was quoted at $1 246.85 a troy ounce from $1 236.40/oz at the JSE's previous close, while platinum was at $1 521.50/oz from $1 531.50/oz before.
A trader said: "We started off weaker this morning, tracking Asian and Australian markets which reacted to a negative Dow overnight.
"The Dow however, is trying to defend that 10 000 level, and was boosted by better than expected consumer confidence data."
Dow Jones Newswires reports that US stocks erased early losses on Tuesday as a better-than-expected reading of consumer confidence provided some encouragement to investors bracing for slower economic growth.
The Dow Jones Industrial Average rose 43 points, reclaiming the 10 000 level. Stocks wiped out an early decline, following after consumer confidence increased more than expected in August, raising expectations about future economic activity.
Asian stock markets mostly declined Tuesday, with Japanese shares finishing at a fresh 16-month low as investors fretted over the adverse impact of a rising yen on the nation's economy and exporters.
