OWN CORRESPONDENT, Johannesburg | Monday 5.30pm
STOCKS on the Johannesburg Stock Exchange ended weaker on Monday, but off the day’s lows after an early dip on weak United States markets on Friday.
Heavyweight financial and resource stock dragged the JSE lower shortly after opening. The financial index ended the day 2,20% lower, with the industrial index off 0,18%.
Dealers said many are players nervous, sitting on sidelines awaiting more direction on US interest rates.
Bullion lost $3 in the morning compared with its levels when the JSE closed on Friday and resulted in the gold index pulling back 2%. By close of trade, however, the gold price was back up at $309,00 an ounce with the index just 0,46% down. The rand held against the dollar for much of the morning at around the $6,33 level, having improved signicantly since Friday. The rand improved against sterling and was last at R10,10 and at R6,35 to the dollar.
Markets across the Asia-Pacific region were almost universally down on Monday after falls at the end of last week on Wall Street. Falls were largely modest, with Tokyo’s drop of 0,8% about average across exchanges.