JSE pares losses late‚ platinums up

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Johannesburg – The JSE closed in the red on Tuesday‚ taking a breather after quite a strong month.

It did‚ however regain much of the day’s losses in late trade. Only the platinum index made gains‚ while banks were the biggest losers.

At 5pm‚ the all share index closed 0.19% lower at 39‚9912.45 points‚ with the top 40 index shedding 0.22% to 35‚487.52 points‚ while platinums added 0.36% and banks shed 0.40%.

“Markets are taking a breather after a few good weeks. Our banks and retailers were down today and that is all related to the pressure that consumers are under‚” a local trader said. “Investors are not sure where the market is heading with the fiscal cliff decision having been postponed from the end of December to the end of February. This was only a delay and the issue will again coming under the radar‚” he added.

At 4.52pm local time London’s FTSE 100 was flat (0.06%)‚ as was the Dow Jones Industrial index (0.04%).

On the local front‚ resource counter Anglo American (AGL) was down 0.54% closing at R267.34 and Sasol (SOL) gave back 0.94% to R366.51.

Platinum miner Lonmin (LON) dropped 1.21% to R47.17 and Northam Platinum (NHM) gave back 0.83% to R35.70.

ArcelorMittal SA (ACL) gave up 0.61% to R37.17‚ while Kumba Iron Ore added 2.76% to R590.

In the banking sector Nedbank (NED) lost 1.34% to R190.79 and Abil (ABL) slipped 1.23% to R30.58.

In retail Shoprite (SHP) gave up 2.22% to R176 and Woolies (WHL) was off 1.80% to R63.79. - I-Net Bridge

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