Money SA economy
South African stocks ended firmly in the red on Thursday amid worse than expected US jobless claims data, while continued issues on Greece's financial stability weighed on the local bourse.
By 5pm the JSE all share index gave up 0.75% with resources off 1.74% and platinum miners down 0.22%. Gold mining shares however, gained 0.32%.
Banks lifted 0.25%, with financials flat, (up 0.03%) but industrials declined 0.12%.
Gold was quoted at $1,095.79/oz from $1,098.55/oz at the JSE's last close, and platinum was at $1,519.50/oz, from $1,509/oz at the bourse's previous close.
A local equities dealer said: "The local bourse had started to stage a comeback this afternoon (having opened weaker), until US jobless claims data came out far worse than expected, pouring gasoline on the fire.
"Another headline story to come out this afternoon, were comments made by Standard & Poor's and Moody's on the financial status of Greece."
Dow Jones Newswires reports that US stocks dropped sharply at Thursday's opening after jobless claims hit their highest level in more than three months and US Federal Reserve
Chairman Ben Bernanke said in Congressional testimony he was looking into US banks' swaps with Greece.
On the JSE, Anglo American shed R9.90, or 3.46%, to R276.10 and BHP Billiton gave up R4.74, to R235. Sasol shipped R4.50, or 1.60%, to R277.10.
