Futures firmer as Dow opens flat and JSE all share closes up on platinums
South African futures were firmer on Tuesday on a flat opening of the Dow and a firmer closing on the JSE. The Dow gained a marginal 0.10% in early evening trade. The all share closed 0.39% higher at 52,660.70 and the benchmark top 40 rose 0.41%. Platinums added 5.05% and the gold index gained 3.98%, while resources climbed 1.34%. General retailers shed 1.04%, and food and drug retailers lost 0.75%. Property shed 0.57%. Banks ended the day 0.1% softer and financials were flat (-0.04%). Market sentiment was driven by S&P Global’s downgrading of SA’s sovereign rating which came late on Monday. The rand firmed against the dollar, gaining more than 40c from its weakest level of the day. The rand was at R13.5744to the dollar in early evening trade. At 5.44pm, the local near-dated top-40 Alsi futures index was 0.61% higher at 46‚461 points. The number of contracts traded was 28,689 from Monday’s 32,929.
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