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Johannesburg - The JSE extended its losses at
noon on Thursday, dragged down by a selloff in general mining shares,
against the negative global investor sentiment backdrop.
The JSE had a 30 minute interruption this morning due to international connectivity issues, which have since been resolved.
At 12:06 local time, the JSE All Share [JSE:J203] index was down 1.08% to 33 431.24 points, with resources dropping 1.88%, which extends the sector's losses to 6.97% since the beginning of May.
Gold miners lost 1.22%, while platinum counters edged up 0.34%.
Financials were down 0.60%, banking stocks fell 0.21% and industrials shed 0.77%.
The rand was trading at 8.31 to the US dollar, from 8.29 at the JSE's close on Wednesday, while gold was quoted at $1 547.90 a troy ounce from $1 546.53/oz at the JSE's previous close and platinum was at $1 443.20/oz, from $1 438.70/oz at the previous session.
"The market continues to be extremely volatile. The resource counters continue to be the main drag on the overall index due to uncertainty in Europe and the slowdown in the Chinese economic growth," said Martin Strauss, market analyst at PSG Konsult.
Franklin Templeton Investments said in a research note that to the extent that the recent downturn in China was due to a slowdown in external demand, signs of improvement in the US and continued robustness in other parts of Asia should help support economic growth.
In addition, while the rate of consumer inflation in March was higher than expected, upstream inflationary pressure from producer prices appears limited, so there may be room for some easing of monetary and fiscal policy.
European stocks were lower on Thursday, as worries about contagion from Greece to other "peripheral" nations continued to weigh on investors' minds, while the results of Spain's latest bond auction saw borrowing costs rise, Dow Jones Newswires reported.
The UK's FTSE 100 index was down 0.71% to 5 366.74 points just before noon local time.
Spain sold €2.494bn in bonds, which was at the upper end of the €1.5bn to €2.5bn range expected.
Asian markets ended mixed, stabilising after heavy selling on Wednesday, as worries subsided over Europe with Greece preparing to hold fresh elections in June.
Japan's Nikkei rose 0.90% while China Shanghai SE Composite finished up 1.4%.
The JSE had a 30 minute interruption this morning due to international connectivity issues, which have since been resolved.
At 12:06 local time, the JSE All Share [JSE:J203] index was down 1.08% to 33 431.24 points, with resources dropping 1.88%, which extends the sector's losses to 6.97% since the beginning of May.
Gold miners lost 1.22%, while platinum counters edged up 0.34%.
Financials were down 0.60%, banking stocks fell 0.21% and industrials shed 0.77%.
The rand was trading at 8.31 to the US dollar, from 8.29 at the JSE's close on Wednesday, while gold was quoted at $1 547.90 a troy ounce from $1 546.53/oz at the JSE's previous close and platinum was at $1 443.20/oz, from $1 438.70/oz at the previous session.
"The market continues to be extremely volatile. The resource counters continue to be the main drag on the overall index due to uncertainty in Europe and the slowdown in the Chinese economic growth," said Martin Strauss, market analyst at PSG Konsult.
Franklin Templeton Investments said in a research note that to the extent that the recent downturn in China was due to a slowdown in external demand, signs of improvement in the US and continued robustness in other parts of Asia should help support economic growth.
In addition, while the rate of consumer inflation in March was higher than expected, upstream inflationary pressure from producer prices appears limited, so there may be room for some easing of monetary and fiscal policy.
European stocks were lower on Thursday, as worries about contagion from Greece to other "peripheral" nations continued to weigh on investors' minds, while the results of Spain's latest bond auction saw borrowing costs rise, Dow Jones Newswires reported.
The UK's FTSE 100 index was down 0.71% to 5 366.74 points just before noon local time.
Spain sold €2.494bn in bonds, which was at the upper end of the €1.5bn to €2.5bn range expected.
Asian markets ended mixed, stabilising after heavy selling on Wednesday, as worries subsided over Europe with Greece preparing to hold fresh elections in June.
Japan's Nikkei rose 0.90% while China Shanghai SE Composite finished up 1.4%.
