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Feb 13 2012 12:15
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Feb 13 2012 10:43
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Feb 13 2012 07:58
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Johannesburg - South African stocks were in the red in early trade on Tuesday, led weaker by resource and precious metal
stocks after eastern markets failed to follow through on a positive close on Wall Street.
At 09:33 the JSE all share index was 0.69% weaker, led by resources losing 1.13%, gold producers giving up 1.44% and platinum counters declining 1.64%.
Banks and financials eased 0.19% and 0.17% respectively, and industrials weakened 0.45%.
The rand was bid at R7.52 to the dollar, from R7.47 when the JSE closed on Monday. Gold was quoted at $1 163.22 a troy ounce from $1 170.60 at the JSE's last close, and platinum was at $1 449.50/oz, from $1 452/oz at its previous close.
"We are slightly weaker. We were pushed quite hard into the close yesterday and we haven't seen a follow through in the East this morning after a positive close on the Dow," a derivatives trader said.
"Commodities are leading us down. We will probably hold at these levels until our GDP figures come out. The big number is the US GDP out later in the day," he said.
- I-Net Bridge