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Johannesburg - The JSE ended weaker on Wednesday‚ lagging main global stock markets‚ as a selloff in mining shares weighed on the all-share index.
The platinum spot price bounced off the near-month lows‚ hurting the platinum stocks‚ although they ended the session off their worst levels.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 0.30% at 33 748.13 points‚ with resources sliding 1.10%‚ gold shares shedding 2.06% and platinum counters losing 1.12%.
Financials were down 0.15%‚ banking stocks shaved off 0.29%‚ while industrials edged up 0.24%.
The rand was trading at 8.39 to the US dollar‚ from 8.47 at the JSE’s close on Tuesday‚ while gold was quoted at $1 571.46 a troy ounce from $1 570.78/oz at the JSE’s previous close and platinum was quoted at $1 410.50/oz‚ from $1 429.20/oz previously.
“We had big volumes of trades concentrated in very few stocks. There wasn’t a huge conviction rate among the players even though we had more than R10 billion worth of shares traded‚” Ryan Wibberley‚ equity dealer at Investec Asset Management said.
Investors pushed US stocks higher for a second straight day on Wednesday as a pair of encouraging US economic data points cheered investors ahead to a two-day summit of European leaders‚ Dow Jones Newswires reported.
Investors were emboldened by a report on US durable goods orders in May‚ which posted their first gain in three months. That suggested that the manufacturing sector stabilised a bit after an early spring slowdown. Pending home sales for May‚ meantime‚ topped expectations to match the highest level of the year‚ the latest in a string of signs of the housing market's recovery. The index of pending sales of existing homes rose 5.9% from April‚ better than economists' expectations of a 2.3% gain.
European measures moved higher‚ with London’s FTSE up 0.61% in late trade.
The platinum spot price bounced off the near-month lows‚ hurting the platinum stocks‚ although they ended the session off their worst levels.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 0.30% at 33 748.13 points‚ with resources sliding 1.10%‚ gold shares shedding 2.06% and platinum counters losing 1.12%.
Financials were down 0.15%‚ banking stocks shaved off 0.29%‚ while industrials edged up 0.24%.
The rand was trading at 8.39 to the US dollar‚ from 8.47 at the JSE’s close on Tuesday‚ while gold was quoted at $1 571.46 a troy ounce from $1 570.78/oz at the JSE’s previous close and platinum was quoted at $1 410.50/oz‚ from $1 429.20/oz previously.
“We had big volumes of trades concentrated in very few stocks. There wasn’t a huge conviction rate among the players even though we had more than R10 billion worth of shares traded‚” Ryan Wibberley‚ equity dealer at Investec Asset Management said.
Investors pushed US stocks higher for a second straight day on Wednesday as a pair of encouraging US economic data points cheered investors ahead to a two-day summit of European leaders‚ Dow Jones Newswires reported.
Investors were emboldened by a report on US durable goods orders in May‚ which posted their first gain in three months. That suggested that the manufacturing sector stabilised a bit after an early spring slowdown. Pending home sales for May‚ meantime‚ topped expectations to match the highest level of the year‚ the latest in a string of signs of the housing market's recovery. The index of pending sales of existing homes rose 5.9% from April‚ better than economists' expectations of a 2.3% gain.
European measures moved higher‚ with London’s FTSE up 0.61% in late trade.
