• Matchmaker businesses

    Multisided platforms can create huge value for society and fortunes for entrepreneurs, says Ian Mann.

  • Future imperfect

    A lack of compassion with ordinary people is crucial to SA’s failures, says Mandi Smallhorne.

  • Will Gordhan be fired?

    An economist ponders the top question concerning those who control international capital flows.

All data is delayed
See More

JSE rallies late on US jobs data

Dec 07 2012 18:11
I-Net Bridge
Johannesburg — The JSE rallied in late Friday afternoon trade‚ paring some earlier losses after US job growth in November was better than expected and the unemployment rate declined. This led to more upbeat global sentiment and risk-on trade.

The US added 146 000 jobs last month‚ the Labour Department reported‚ up from a downwardly revised 138 000 in October. Economists polled by Dow Jones Newswires had forecast a median 80 000 new payrolls in November. The unemployment rate dropped to 7.7% from 7.9%‚ compared with economists' predictions for it to remain unchanged.

On the local front the JSE All Share [JSE:J203] index closed 0.24% down to 38 195.89 points‚ with the Top 40 - (Tradeable) [JSE:J200] index giving back 0.29% to 33 909.68 points. Resources and platinums were the main laggards down 0.68% and 0.55% respectively.

European markets were trading mostly higher‚ after the US labour data. However Germany's central bank cut its growth outlook for the country’s economy in 2012 and next year‚ dampening the positive sentiment a bit. At 16:47 local time the UK FTSE 100 index was 0.20% higher and the Dow Jones Industrial index was 0.37% firmer at 13 122.65 points.

“Most metals were lower today due to the appreciation in the rand overnight. The markets were nervous before the release of the US data‚ but are now trading firmer‚” said Robby Pietropaolo‚ trader at Vunani Private Clients.
equities  |  jse  |  markets  |  stocks



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote