Publications
Partners
Johannesburg - The JSE ended weaker on Monday, giving up earlier
gains and succumbing to the morning's negative mood as investors kept an eye
firmly on global equities.
At the close, the JSE all share index shed 0.73%. Resources declined 0.59%, gold producers slumped 2.76%, and Platinum miners lost 0.85%. Banks moved 0.73% lower, financials weakened 0.60%, and industrials fell 0.92%.
The rand was bid at R7.64 to the dollar, from R7.56 at the JSE's last close. Gold was quoted at $1 179.78 a troy ounce from $1 192.80/oz at the JSE's previous close, while platinum was at $1 503.50/oz from $1 516.50/oz before.
A trader said local investors were closely watching international markets.
The trader said the domestic market opened weaker, bounced back at around noon before swinging back to losses at the close.
US housing data weighted on the investor sentiment, while the earnings reporting season gave investors a reason to remain cautious, the trader said.
Dow Jones newswires reports that US stocks fluctuated between gains and losses, paring early gains on Monday as investors balanced weaker housing sentiment and a busy week of company earnings.
Stocks appeared to lose some of their ground after disappointing numbers on housing suggested sentiment in that key sector is beginning to wane. The National Association of Home Builders said its July sentiment index came in at 14, lower than a revised figure of 16 in June, and below economists' expectations of 16.
"I think it's generally accepted right now that without employment, housing is going to kind of butterfly back and forth," said J.J. Kinahan, chief derivatives strategist for TD Ameritrade.
"Without unemployment under 9%, the housing market is not going to meaningfully recover."
- I-Net Bridge
At the close, the JSE all share index shed 0.73%. Resources declined 0.59%, gold producers slumped 2.76%, and Platinum miners lost 0.85%. Banks moved 0.73% lower, financials weakened 0.60%, and industrials fell 0.92%.
The rand was bid at R7.64 to the dollar, from R7.56 at the JSE's last close. Gold was quoted at $1 179.78 a troy ounce from $1 192.80/oz at the JSE's previous close, while platinum was at $1 503.50/oz from $1 516.50/oz before.
A trader said local investors were closely watching international markets.
The trader said the domestic market opened weaker, bounced back at around noon before swinging back to losses at the close.
US housing data weighted on the investor sentiment, while the earnings reporting season gave investors a reason to remain cautious, the trader said.
Dow Jones newswires reports that US stocks fluctuated between gains and losses, paring early gains on Monday as investors balanced weaker housing sentiment and a busy week of company earnings.
Stocks appeared to lose some of their ground after disappointing numbers on housing suggested sentiment in that key sector is beginning to wane. The National Association of Home Builders said its July sentiment index came in at 14, lower than a revised figure of 16 in June, and below economists' expectations of 16.
"I think it's generally accepted right now that without employment, housing is going to kind of butterfly back and forth," said J.J. Kinahan, chief derivatives strategist for TD Ameritrade.
"Without unemployment under 9%, the housing market is not going to meaningfully recover."
- I-Net Bridge
