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MARKET WRAP: Only platinum and gold shine on the JSE

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Local banks and miners were pressured by a firmer dollar, while local data was also downbeat

The JSE closed lower on Wednesday, with only platinum and gold miners showing a few signs of life, amid caution on some global markets.

Shortly after the JSE closed, the Dow was mildly positive at 26,664.77 points, while in Europe, the FTSE 100 had fallen 0.74% and the CAC 40 0.3%. Germany’s DAX 30, however, was up 0.51%. Earlier, Japan’s Nikkei fell 0.27% and Hong Kong’s Hang Seng 0.53%. Load-shedding weighed on confidence in the first quarter, FNB chief economist Mamello Matikinca-Ngwenya said, adding that prolonged strikes, rising fuel prices and the announcement of tax increases also contributed to declining confidence.Anglo American lost 2.94% to R387.95. Earlier, JPMorgan reclassified the diversified miner's stock as neutral, from overweight previously.Standard Bank slipped 2.19% to R195.

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