Money SA economy
The JSE closed lower on Monday, but it managed to recover some of its losses in trade that was interrupted by a technical glitch and which lacked direction.
At its close, the JSE all share index lost 0.29%, with resources 0.65 weaker. Platinum miners gained 0.89%, and gold miners rose 0.43%. But banks shed 0.54%, financials declined 0.13% and industrials were down slightly 0.03%. Gold was quoted at $1,198.41/oz from $1,208.54/oz at the JSE's previous close, while platinum was at $1,520.50/oz from $1,534/oz before.
A trader said the local bourse started the day 200 points weaker, but in the absence of sellers it crept back and regained some composure.
"In the absence of sellers, the market crept back," the trader said, pointing out that trading volumes were thin.
Michelle Joubert, spokeswoman for the JSE, said the market has been fairly quiet today. "We are closing at the normal time."
The JSE was delayed at the opening bell due to the exchange's "international connectivity on the equities market".
"The JSE's international links are provided by MTN and the two companies are refining the analysis of the cause," the company said.
Dow Jones Newswires reported that US stocks were mixed on Monday, boosted by technology companies benefiting from analyst upgrades, but gains were limited as investors moved cautiously ahead of the start of second-quarter earnings.
On the JSE, Anglo American plc shed R3.77 or 1.35% to R275.38, BHP Billiton fell R2.82 or 1.32% to R210.45 and Sasol lost R1.40 to R280.
