Resources drive Johannesburg stock into red

After ending on a record high on Monday, the Johannesburg Security Exchange gave back 279 points on Tuesday, with a significant drop in resources -- the major bugbear.

Stocks were seen trading in ranges and volumes were mediocre on the day, with the big resource counters Anglo, Sasol and Billiton still dominating proceedings.

By 17:00, the all share index was down 1.24 percent, due largely to a 3.77 percent fall in the gold mining index, a 2.85 percent retreat in the resources index and a 2.08 percent decline in the platinum mining index. Industrials were up 0.08 percent, while the financial index was 0.09 percent lower. However, the banks index was up 0.07 percent.

Source: Xinhua