Money SA economy
The JSE opened a tad weaker on Tuesday, taking its cue from lower world markets as profit taking set in following strong gains in the last few trading sessions.
By 09.21am local time the JSE all share index had lost 0.25%, with gold miners falling 0.14% and resources edging down 0.34%. However, platinum miners were flat (down 0.01%). Banks were 0.27% weaker, financials shed 0.08% and industrials declined 0.24%. Gold was quoted at USD1,249.61 a troy ounce from USD1,249.37/oz at the JSE's previous close, while platinum was at USD1,560.50/oz from USD1,558.50/oz before.
The trader said the local market was slightly weaker in line with global markets, with both Asian stocks and US futures negative.
The market will get direction later today when the US markets re-open, after being closed on Monday for the Labor Day public holiday.
Dow Jones Newswires reports that Asian stock markets were mixed on Tuesday as markets traded on local cues after a Wall Street holiday, while steel companies in the region gained on expectations for higher Chinese steel prices.
Japan's Nikkei Stock Average closed 0.81% weaker, but Hong Kong's Hang Seng Index was last 0.13% higher.
European stocks opened a touch lower, as the markets struggled for direction. In London, the FTSE 100 index was last down 0.40%.
On the JSE, Anglo American lost R1.96 to R276.67, Sasol fell R2.75 to R286.73, and BHP Billiton shed nine cents to R210.70.
