OWN CORRESPONDENT, Johannesburg | Wednesday 4.30pm.
THE JSE lost early gains ending 1,06% or 81 points lower on Wednesday, pulled down by “old economy” stocks.
Gold shares suffered the biggest setback, plummeting 3,29% or 34 points on the day. On international markets bullion lost $2,50 and by late afternoon was trading at $280 to the ounce.
“I think worries about the turmoil in Zimbabwe are no longer having such a big impact on the market. But concerns about Zimbabwe are not yet out of the market–it is definitely at the forefront of foreign investors minds,” a trader said.
Financials toppled 1,14% or 111 points, while industrials ended 0,67% or 58 points lower.
Among resources stocks, Anglo American, De Beers and Billiton were the worst hit.
The rand remained steady against major currencies at 4pm was trading at R6,55 to the dollar and R10,36 to the pound.
The Hang-Seng finished 0,54% or 89 points up, while Tokyo’s Nikkei ended 1,51% or 310 points in the black.