OWN CORRESPONDENT, Johannesburg | Wednesday 4.00pm.
THE Johannesburg Stock Exchange ended on a sour note on Wednesday following the release of worse-than-expected producer price index figures, and a weaker US Nasdaq overnight.
The overall finished 1,59% or 114 points down. Industrials were 2,24% or 179 points off, while financials ended down 1,56% or 137 points.
Gold shares ended 1,25% or 11 points lower. By late afternoon gold was US35c lower on international markets at $273,70 and ounce.
Producer prices rose 1,7% in April compared with the 0,5% rise in March. The increase is blamed on recent fuel price hikes.
The Nasdaq lost 6% overnight, losing most of its value gained since January. By late afternoon on Wednesday the Dow Jones was trading up 0,53% or 55 points.
The rand lost marginal ground against the dollar, trading at R7,09 against the US currency by late afternoon. At the same time it was trading at R10,44 to the pound.
Asian markets also slipped lower, the Hang-Seng finishing 2,27% or 323 points down, while the Nikkei ended 1,68% or 274 points weaker.