Share

JSE softer on global concerns

Johannesburg — The JSE closed softer on Tuesday with the all share index dipping below the 38 000 points level‚ with markets still concerned about the US fiscal cliff and awaiting further developments thereon.

At 17:00‚ the All Share [JSE:J203] index was down 0.15% to 37 991.31 points.

Gold stocks and resources weighed on the bourse‚ shedding 1.53% and 0.81% respectively‚ while platinums provided some upside closing 0.65% firmer.

“Our markets are possibly weaker due to the softer than expected PMI figures out of the US last night still filtering through to us and on uncertainty about the fiscal cliff in the US‚” said Oliver Russell‚ trader at GT247.com in Johannesburg.

London’s FTSE 100 was flat (-0.01%) at 16:49 local time and the Dow Jones Industrial index had inched slightly higher adding 0.24% at the same time.

Investors are concerned that the dispute between Republicans and Democrats in the US may go unresolved into the new year‚ triggering a series of tax increases and government spending cuts known as the fiscal cliff‚ Dow Jones Newswires reported.

In the latest twist‚ the White House immediately rejected a deficit-reduction proposal made by House Republicans late on Monday that called for $800 billion in increased tax revenue‚ half of what President Barack Obama proposed.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
-0.8%
Rand - Pound
24.01
-0.5%
Rand - Euro
20.55
-0.4%
Rand - Aus dollar
12.37
-0.1%
Rand - Yen
0.13
-0.8%
Platinum
890.97
-0.7%
Palladium
988.99
-1.3%
Gold
2,196.11
+0.1%
Silver
24.43
-0.9%
Brent Crude
86.09
-0.2%
Top 40
67,857
+0.3%
All Share
74,039
+0.2%
Resource 10
56,172
+0.9%
Industrial 25
103,559
+0.3%
Financial 15
16,472
-0.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders