Mining stocks knock bourse
THE JSE closed lower yesterday as mining stocks pulled the market down on disappointing data from China and softer commodity prices.
The rand clawed back some of its losses as the euro gained on the greenback following the release of upbeat German economic data.
The rand gained more than 0.6% to an intraday best level of R14.35/$ before weakening again. At 3pm‚ it was at R14.38/$ from R14.48/$‚ at R16.90/ from R16.88/ R18.99/£.
Banking stocks were flat while property gained. Retailers were mixed.
The resources index has risen 20% so far this year‚ and‚ including dividends‚ is at a two-and-a-half-year high.
The all-share closed 0.51% lower at 59 518.90 points and the blue-chip top40 lost 0.48%.
The gold index shed 3.81%‚ platinums 3.55% and resources 2.31%. — and R18.85/£ from