Money SA economy
The JSE ended marginally weaker on Thursday, as resurgent gold stocks failed to excite local investors, who preferred to cast their sight on shaky global equities.
There was unusually low trading volumes today despite the futures close-out, which normally results in higher volumes, a local trader said.
The lack of interest in the dull futures close-out suggested that institutional investors signalled that there was limited downward risk, the trader said.
By 5pm local time the JSE all share index was down 0.13%, with banks falling 1.40%, industrials shedding 0.04% and financials sliding 0.67%. Resources added 0.05% and gold miners gained 0.92%, but platinum miners lost 0.32%. Gold was quoted at $1,274.29/oz from $1,269.51/oz at the JSE's previous close, while platinum was at $1,617.00/oz from $1,589.00/oz at the JSE's close previously.
The trader said investors, as the futures close-out indicated, felt a bit more certain about the economic outlook. "Market participants are waiting for more data to confirm the positive economic news we have been seeing in the past three weeks," he said.
Dow Jones Newswires reported that US stocks edged down on Thursday as concerns over global exchange-rate policies overshadowed encouraging jobs data.
