ALAN FINLAY, Johannesburg | Tuesday 4.30pm.
THE JSE lost some ground on Tuesday after Monday’s surge ending the day 1,15% or 97 points down.
One analyst said investors were tightening their positions ahead of a US interest rate decision by the Federal Open Market Commission expected on Tuesday night.
The industrial index ended 0,17% or 15 points down, financials 0,65% or 68 points lower and gold shares 0,11% or 1 point in the red.
At 4pm gold was trading on international markets at $284,13 an ounce.
Inflation data released on Tuesday, which indicated a slightly increased core inflation, had little effect on the market.
Earlier in the day shares in De Beers slipped as investors took profits from the diamond giant’s strong recent gains and on news of an impending review of the government diamond regulator.
“I expect some window dressing ahead of the New Year because dealers have to show something to their clients,” said Standard and Poor’s James Rheeder, who added that investors are taking the bull by the horns over Y2K fears and still mopping up blue-chip stocks.
By late afternoon the rand was trading at R6,14 to the dollar and R9,87 to the pound.
The Hang-Seng close 0,22% or 36 points up and Tokyo’s Nikkei 0,52% or 95 points in the red.