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JSE up slightly in muted trade

Johannesburg - The JSE ended a tad higher on Wednesday in lacklustre trade.

Gold shares gave up earlier gains to finish flat‚ while platinum shares came under selling pressure.

At 17:00 local time‚ the JSE All Share [JSE:J203] index was up 0.16% to 34 041.12 points‚ with resources and gold shares flat (0.08% and 0.01% respectively)‚ while platinum counters lost 1.15%.

Financials lost 0.32%‚ banking stocks were 0.85% in the red‚ while industrials firmed 0.43%.

The rand weakened to 8.14 to the US dollar‚ from 8.08 at the JSE’s close on Tuesday‚ while gold exchanged hands at $1 614.79 a troy ounce from $1 618.60/oz at the JSE’s previous close and platinum was quoted at $1 483/oz‚ from $1 476.50/oz previously.

“We had a fairly range-bound session‚ with US markets closed for a public holiday‚” Kevin Algeo‚ market analyst at Imara SP Reid. “All eyes will be on the European Central Bank tomorrow.”

European share markets pared their losses in late trade‚ with London’s FTSE 100 index flat.

Many commentators expect the ECB to cut its main rate and the Bank of England to extend its bond-buying programme.

Eurozone data offered little inspiration‚ but again fuelled expectations of central bank action this week - a move that would ultimately boost risk assets such as equities and commodities‚ Dow Jones Newswires reported.

The purchasing managers' index for the manufacturing and services sectors edged up a touch to 46.4 in June from 46.0 in May‚ though it was still below the key 50-mark.
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Rand - Dollar
18.90
+0.2%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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