Fin24

JSE pares losses‚ boosted by banks

2012-12-03 18:34

Johannesburg — The JSE pared losses in late trade to finish just slightly lower on Monday‚ boosted by some buying interest in banking and financial shares.

At 17:00‚ the All Share [JSE:J203] index was down 0.14% to 38 049.74 points. Gold stocks led the downside‚ dropping 3.12%‚ while banks garnered 1.06%.

“The market climate is still looking positive overall. Some consolidation is not unexpected after a good run last week‚” said Ian Cruickshanks‚ independent analyst.

Last month‚ the all share index gained more than 2%‚ led by industrials.

Leading European markets remained higher in the late session‚ with UK’s FTSE 100 up 0.23% at 16:47 local time‚ while Dow Jones Industrial Average was up 0.27%.