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Johannesburg - The JSE stock market opened lower on
Wednesday morning following world markets lower‚ with local gold miners the
only counters providing support on the upside‚ and traders wait for the Sacci
business confidence numbers out at 11.30am this morning with little further
market-moving domestic data out today to move local markets.
At 9:10am the JSE All Share [JSE:J203] index slipped 0.11%
to 36‚207.54 points‚ with gold miners up 0.12%‚ resources down 0.36% and banks
shedding 0.4%.
Rand Merchant Bank said in a morning note that global
markets were under a little pressure. “Spain’s prime minister has denied
rumours that the country plans to formally ask for a bailout this weekend. We
watch and wait. Attention will now shift to the service sector PMI data.
China’s figure this morning was disappointing but the real focus will be on the
US number this afternoon: will the service sector confirm the bounce seen in
manufacturing? Also watch eurozone retail sales figures and the US ADP
employment report‚” the bank said.
“We have got mixed news on the local front. Strike action
seems to be escalating. But there has been a delayed positive from the World
Government Bond Index inclusion after being inactive on Friday‚ foreigners
bought R6bn of local bonds on Monday and another R2.6bn yesterday‚” it added.
European markets were all trading softer‚ with the FTSE 100 last seen 0.38% softer and the Japanese Nikkei that closed 0.45% weaker.
