Daily Dispatch

Bourse cuts gains, ends weak


THE JSE reversed earlier gains to finish the session lower yesterday as a last-ditch attempt to form a coalition government in Greece failed, hitting global market sentiment.

At 5pm, the JSE all-share index was down 0.14% to 33 486.08 points, with gold miners tumbling 2.54%, platinum miners dropping 1.10% and resources shedding 0.72%. Financials were down 0.39%, banking stocks were off 0.64%, while industrial­s gained 0.37%.

The rand slid to 8.27 to the US dollar, from 8.17 at JSE’S close on Monday.

Gold was quoted at $1 552.41 a troy ounce from $1 562.62/oz at the JSE’S previous close, while platinum was at $1 445/oz, from $1 449.50/oz at the previous session.

“The collapse of Greek coalition talks will prolong uncertaint­y in the financial markets which until recently had been driven by liquidity injection from the central banks, not so much from economic fundamenta­ls,” said a market analyst. — I-net Bridge

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