Johannesburg - The JSE ended marginally higher on Tuesday‚ giving up most of its earlier gains after a fairly volatile day.
At 17:00 local time‚ the JSE All Share [JSE:J203]
index was up 0.20% at 33 998.60 points‚ with resources slipping 0.10%‚ but gold shares lifting 1.46% and platinum counters inching up 0.11%.
Financials edged up 0.17%‚ but banking stocks shaved off 0.19%‚ while industrials lifted 0.37%.
The rand strengthened to 8.19 to the US dollar‚ from 8.26 at the JSE’s close on Monday‚ while gold changed hands at $1 585.98 a troy ounce from $1 587.88/oz at the JSE’s previous close and platinum was quoted at $1 435.50/oz‚ from $1 448.50/oz previously.
“Our market traded below average turnover‚ a feature that was also manifest in leading global markets due to uncertainties around the direction of the global economy‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.
David Shapiro‚ director at Sasfin Securities‚ said: “I’m concerned about the quality of second quarter corporate earnings we might have from the US and that is going to be fairly important in terms of market sentiment.”
European stocks were still decidedly firmer in late trade‚ with London’s FTSE 100 index up 0.71% at 16:47 local time.
An agreement on aid to Spanish banks stoked investor enthusiasm and fuelled a rebound rally in stocks‚ Dow Jones Newswires reported.
Eurozone finance ministers agreed to make €30bn in aid available for Spain's banking industry and gave the country an extra year to meet its deficit targets.
Also boosting sentiment‚ UK industrial production jumped 1% from May to April‚ the biggest monthly increase in more than two years‚ and much better than expectations of a 0.2% decline.
At 17:11 local time‚ the Dow Jones Industrial Average was down 0.26%.