Publications
Partners
Johannesburg – The JSE slipped for a fourth straight day on Friday amid some profit taking, with uncertainty also creeping back in to the market ahead of the G20 Summit in Toronto where the fiscal deficits afflicting some eurozone countries will once again be discussed.
At its close, the JSE all share index had lost 0.57% and resources shed 1.33%. Platinum miners gave up 0.19%, but gold miners added 0.82%. Banks moved 0.41% lower, and financials edged down 0.29%, but industrials were slightly higher, up 0.07%.
The rand was bid at 7.65 to the dollar, unchanged from the JSE's close on Thursday. Gold was quoted at US$1,254.03 a troy ounce from $1 243.47/oz at the JSE's previous close, while platinum was at $1 564.50/oz from $1 554.50/oz at the JSE's last close.
A local trader said: "We have had two good weeks, so there has been some profit taking over the past few days, while the European crisis is also back to the fore, along with the state of the euro.
"The G20 Summit in Toronto will take centre stage this weekend, with some uncertainty as to how it will play out. This has all led to some uncertainty creeping back into the market, albeit on very low volumes," he said.
The Dow Jones Newswires reported that US stocks wavered on Friday, as financials rose after Congress hammered out a deal on a landmark financial-overhaul bill, but a downward revision to the first-quarter gross domestic product spurred worries over the pace of the economic recovery.
- Inet-Bridge
