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JSE slips after fresh record peak

Dec 03 2012 10:49
I-Net Bridge

Johannesburg - The JSE kicked off a new month on a downbeat note on Monday‚ after the all share index added more than 2% last month to close at a fresh record peak on Friday‚ led by industrial stocks.

At 9:36am‚ the All Share [JSE:J203] index was down 0.32% at 37‚984.49 points‚ with the Top 40 - (Tradeable) [JSE:J200] index slipping 0.39%. Gold stocks led the downside‚ dropping 1.19%.

“It is a cautious start to the session after reaching new highs yet again on Friday. The backdrop for commodity-based stocks‚ however‚ remains positive following the uptick in the Chinese manufacturing data although we still need to see a firmer trend‚” said Devin Shutte‚ a trader at stockbrokerage‚ Newstrading.

China’s official purchasing managers’ index rose to a seven-month high of 50.6 in November‚ up from 50.2 in October.

Leading Asian stocks were mixed‚ with Japan’s Nikkei 225 closing 0.13% higher and the Hang Seng index in Hong Kong losing 0.72%.

jse  |  markets



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