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Stocks ended slightly lower on Tuesday, weighed by a host of factors that included the stronger rand, faltering metal prices and shaky overseas markets, traders said.
The JSE's broader all share index ended 0.19 percent weaker at 31 713.290. Resources fell 0.15 percent, while the gold and platinum mining indices gave up 1.15 percent and 2.66 percent respectively. Banks lost 0.53 percent, financials shed 0.94 percent but industrials added 0.10 percent.
The rand was bid at 7.62 to the dollar from 7.74 when the JSE closed on Monday, while gold was quoted at $918.90 a troy ounce from $918.33 at the JSE's last close.
"It's softer, we are struggling to break above the 32 000 level. The rand has been strong, commodity prices are pulling back and overseas markets are not looking that good either," one trader said.
The Dow Jones Industrial Average was last trading 0.53 percent weaker. The broader Standard & Poor's 500 index fell 0.65 percent and the technology-heavy Nasdaq Composite slipped 0.77 percent.
The trader noted that volumes and value traded were low as most traders remained on the sidelines "waiting to see if (the sub-prime turmoil) is really over and also ahead of the local inflation numbers this week."
Investors will also be watching production reports from heavyweight miners BHP Billiton and Lonmin, and subscriber numbers from cell phones firm MTN Group.
On the JSE, resources group Anglo American weakened 3.99 rand to 523 rand and BHP Billiton climbed 1.04 percent to 285 rand.
Synthetic fuels maker Sasol was 1.34 percent better at a new record closing high of 456 rand after setting a fresh record of 461 rand as crude oil continued to trade near its record on supply disruptions in Nigeria.
South Africa's top-three gold miner Harmony rallied 2.71 percent to 94.75 rand after saying its US$525-million (R4.1-billion) Papua New Guinea joint venture with Newcrest Mining, the largest gold mining company listed on the Australian Securities Exchange, would bring in more cash.
Rival AngloGold Ashanti fell two percent to 284.10 rand and Gold Fields dipped 1.72 percent to 111 rand.
Among platinum miners, Anglo Platinum was down 1.79 percent at 1316 rand, Impala Platinum slumped 3.40 percent to 326.50 rand while Lonmin, which releases its Q2 production report on Wednesday, added 1.77 rand to 502.50 rand.
Elsewhere, retailer Pick n Pay eased 19 cents to 29.01 rand after reporting below-forecast full year earnings, traders said.
Shortly before the market opened, it reported diluted headline earnings per share of 189.45 cents for the year ended February from 160.79 cents a year ago.
Pioneer Foods, which makes Weet Bix cereals and Ceres juices, began trading on the JSE on Tuesday. Shares in the company closed at 35 rand – a premium on the 25 rand rights offer price.
I-Net Bridge