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Johannesburg - The JSE closed weaker on Thursday as nervous investors took profit after Wednesday's steep gains, which saw the JSE all share index rise nearly 3%.
By 17:00 local time the JSE all share index closed 0.49% weaker, with resources 0.57% lower. But platinum miners gained 0.27% and gold miners rose 1.44. Banks fell 0.61%, financials were down 0.29% and industrials lost 0.52.
The rand was bid at 7.22 to the dollar from 7.28 at the JSE's close on Wednesday. Gold was quoted at $1 251.72 a troy ounce from $1 245.54/oz at the JSE's previous close, while platinum was at $1 551.50/oz from $1 533.50/oz before.
A trader said investors took profits, preferring to lock in gains as the market has not shaken off its jitteriness.
"The market is also weighing mixed economic data," the trader said.
Dow Jones Newswires reports that US stocks rose on Thursday, boosted by an unexpected increase in US pending home sales and better-than-expected back-to-school sales from retailers.
The Dow Jones Industrial Average climbed 23 points, or 0.2%, to 10 292, in recent trading.
The gains came as the National Association of Realtors' index for pending sales of used homes increased 5.2% to 79.4.
The report represents a surprising reversal after the index fell two months in a row following the April 30 expiration of a tax credit for buyers. Economists had expected a 1% drop.
By 17:00 local time the JSE all share index closed 0.49% weaker, with resources 0.57% lower. But platinum miners gained 0.27% and gold miners rose 1.44. Banks fell 0.61%, financials were down 0.29% and industrials lost 0.52.
The rand was bid at 7.22 to the dollar from 7.28 at the JSE's close on Wednesday. Gold was quoted at $1 251.72 a troy ounce from $1 245.54/oz at the JSE's previous close, while platinum was at $1 551.50/oz from $1 533.50/oz before.
A trader said investors took profits, preferring to lock in gains as the market has not shaken off its jitteriness.
"The market is also weighing mixed economic data," the trader said.
Dow Jones Newswires reports that US stocks rose on Thursday, boosted by an unexpected increase in US pending home sales and better-than-expected back-to-school sales from retailers.
The Dow Jones Industrial Average climbed 23 points, or 0.2%, to 10 292, in recent trading.
The gains came as the National Association of Realtors' index for pending sales of used homes increased 5.2% to 79.4.
The report represents a surprising reversal after the index fell two months in a row following the April 30 expiration of a tax credit for buyers. Economists had expected a 1% drop.
