Entrepreneurship Q&A

Do you have questions on the financing needs of your business? Fin24.com has a panel of experts on standby to answer queries.

PODCAST: Lessons from Abroad

Think it's easier to start a business in the US as opposed to SA? Listen to Fin24.com's entrepreneurship experts.

JSE in red on global sentiment

Oct 28 2009 17:35 Print this article  |  Email article

Related Articles

JSE moves further into the red

JSE opens slightly lower on Asia

Mixed data unnerve US investors

JSE down amid risk aversion

JSE drops on weak Asian stocks

Firmer Dow sees JSE up

 

Johannesburg - Current global sentiment pushed the local bourse into the red on Wednesday, while a stronger US dollar also weighed on commodities.

At 17:00 the JSE all share index had lost 1.74%, with resources falling 2.58%, platinum producers off 1.80% and gold counters losing 1.86%.

Banks declined 1.53%, financials gave up 1.44% and industrials weakened 0.99%.

The rand was bid at 7.76 to the dollar from 7.65 when the JSE closed on Tuesday. Gold was quoted at $1 033 a troy ounce from $1nbsp;036.65/oz just before the JSE's last close, and platinum was at $1 312/oz, from $1 309.50/oz at its previous close.

A local trader said: "Continued dollar strength weighed on commodities, while current global sentiment is negative.

"Rand weakness did help mining stocks a little, but internationally, sentiment is weak. In the US, housing data came in worse than expected, and traders there will be keeping a watchful eye on GDP figures out tomorrow," he said.

Dow Jones Newswire reports that US stocks traded slightly lower on Wednesday as a gain for telecommunications companies was offset by data showing weakness in the housing market.

Recently, the Dow Jones Industrial Average traded down 10 points, or 0.1%, to 9 869.

Stocks had opened slightly lower as some disappointing earnings and a worse-than-expected report on durable goods weighed on trading. The market then pushed to new lows as the Commerce Department said new home sales unexpectedly fell in September following five consecutive increases as tighter credit and unemployment fears kept buyers away.

Single-family home sales fell by 3.6% to a seasonally adjusted annual rate of 402 000 compared with the prior month. Economists surveyed by Dow Jones Newswires expected September sales to rise 2.6% to 440 000.

- I-Net Bridge

  • page

 

Comment on this story

(No bad language or hate speech, please)
Comments for this article have been closed

Indicators

Last updated: Fri 00:00

View data hub

Company Snapshot

Make money from art
Sep 02 2010 12:48

Art's nicer to look at than stock and bond certificates, but can it make you money? Fin24.com spoke to the experts about this alternative investment class. Time: 3:00

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...