Publications
Partners
Johannesburg - The JSE came off earlier highs at
noon as the combination of a slightly firmer rand and Italy's bond
ratings downgrade affected the market.
A local trader said that some shares with overseas exposure were taking a hit because of the volatile rand level. He said the rand was putting commodity prices under pressure.
By 12:02 local time, the JSE All Share [JSE:J203] index was up 0.25% to 29 251.46 points. Platinum miners slipped 1.74% and gold dropped 1.18%, while resources gained 0.82%. Banks lifted 0.48%, financials picked up 0.10%, and industrials were fairly flat (-0.05%).
The rand was bid at 8.11 to the dollar, from 8.26 at the JSE's close on Tuesday. Gold traded at $1 611.84 a troy ounce from $1 625.79/oz at the JSE's previous close, while platinum was at $1 447/oz, from $1 475.50/oz previously.
Dow Jones Newswires reported that Asian markets ended mixed after choppy trade on Wednesday despite Wall Street's final-hour rally on Tuesday, as caution over the eurozone debt crisis persisted, while Apple-related plays around the region sold off as the new iPhone model underwhelmed.
Japan's Nikkei Stock Average closed 0.86% lower. Markets in Hong Kong and mainland China were shut for holidays.
A local trader said that some shares with overseas exposure were taking a hit because of the volatile rand level. He said the rand was putting commodity prices under pressure.
By 12:02 local time, the JSE All Share [JSE:J203] index was up 0.25% to 29 251.46 points. Platinum miners slipped 1.74% and gold dropped 1.18%, while resources gained 0.82%. Banks lifted 0.48%, financials picked up 0.10%, and industrials were fairly flat (-0.05%).
The rand was bid at 8.11 to the dollar, from 8.26 at the JSE's close on Tuesday. Gold traded at $1 611.84 a troy ounce from $1 625.79/oz at the JSE's previous close, while platinum was at $1 447/oz, from $1 475.50/oz previously.
Dow Jones Newswires reported that Asian markets ended mixed after choppy trade on Wednesday despite Wall Street's final-hour rally on Tuesday, as caution over the eurozone debt crisis persisted, while Apple-related plays around the region sold off as the new iPhone model underwhelmed.
Japan's Nikkei Stock Average closed 0.86% lower. Markets in Hong Kong and mainland China were shut for holidays.
