Money SA economy
South African stocks closed in the red on Tuesday amid profit-taking on the local bourse with banking stocks hardest hit.
A local equities trader noted that the market had run hard over recent sessions.
By 5pm the JSE all share index declined 0.78%, with resources giving up 1.36%. Platinum miners weakened 0.89%, and gold stocks moved 1.37% lower.
Banks shipped 1.84%, financials subsided 1.16%, but industrials ended flat, up 0.02%.
Gold was quoted at $1,115.84 a troy ounce from $1,126.93 at the JSE's last close. Platinum was at $1,591.50/oz from $1,594/oz at the JSE's last close.
A local equities dealer said: "The market has had a good run which has led to a bit of profit-taking today. Commodities are softer, but generally we have run hard of late. The market may look for a period of consolidation."
Dow Jones Newswires reported that US stocks opened slightly lower, than turned mixed early Tuesday, the one-year anniversary of the market's rebound from its lows last year, as tumbling commodity prices weighed on materials.
On the JSE, Anglo American declined R5.50, or 1.84%, to R293, and BHP Billiton slipped R3.38, or 1.36% to R245.99. Sasol eased 195 cents, to R289.05.
