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Johannesburg - The JSE continued to track global
stocks lower at midday on Monday as political developments in the
eurozone weighed on market sentiment.
A local trader said that markets were "quite strong" over the past few days and that there was a "bit of a pullback" on Monday. Most of Europe was down, the trader said, adding that the JSE was tracking those movements.
"We have been tracking European markets most of the day today, and it looks as though it's going to remain much the same for the rest of the afternoon," she said.
At 12:03 local time, the JSE All Share [JSE:J203] index was down 0.77% to 33 952.82 points, with resources shedding 1.30%, financials down 1.02%, and banking stocks losing 0.83%.
Platinum shares lost 0.82%, industrials slipped 0.32%, and gold counters dipped 0.18%.
The rand was trading at R7.85 to the US dollar, from R7.80 at the JSE's close on Friday. Gold was quoted at $1 634.13 a troy ounce from US$1 640.31/oz at the JSE's previous close, while platinum was at $1 564/oz, from $1 580.50/oz at the previous session.
London's FTSE 100 index was 1.64% in the red at 5 677.67 points at 11:48 local time.
Dow Jones Newswires reported that European stocks fell sharply on Monday, as political uncertainty in the region and downbeat data undermined sentiment.
The benchmark Stoxx Europe 600 index was down 1.5% at 253.82, Frankfurt's DAX was 2.2% lower at 6 603.25, and Paris's CAC-40 index was down 1.5% at 3 141.70. Spain's IBEX-35 was off 2.7%, while Italy's FTSE MIB was also 2.7% weaker.
French, German and eurozone data compounded the negative mood on Monday. Data showed French business activity was at its weakest level for six months in April.
Germany's private sector expanded at a slower pace in April. A preliminary estimate of the country's manufacturing purchasing managers' index (PMI) for April came in at 46.3 from 48.4 in March, while the services PMI was at 52.6 from 52.1 in March.
A local trader said that markets were "quite strong" over the past few days and that there was a "bit of a pullback" on Monday. Most of Europe was down, the trader said, adding that the JSE was tracking those movements.
"We have been tracking European markets most of the day today, and it looks as though it's going to remain much the same for the rest of the afternoon," she said.
At 12:03 local time, the JSE All Share [JSE:J203] index was down 0.77% to 33 952.82 points, with resources shedding 1.30%, financials down 1.02%, and banking stocks losing 0.83%.
Platinum shares lost 0.82%, industrials slipped 0.32%, and gold counters dipped 0.18%.
The rand was trading at R7.85 to the US dollar, from R7.80 at the JSE's close on Friday. Gold was quoted at $1 634.13 a troy ounce from US$1 640.31/oz at the JSE's previous close, while platinum was at $1 564/oz, from $1 580.50/oz at the previous session.
London's FTSE 100 index was 1.64% in the red at 5 677.67 points at 11:48 local time.
Dow Jones Newswires reported that European stocks fell sharply on Monday, as political uncertainty in the region and downbeat data undermined sentiment.
The benchmark Stoxx Europe 600 index was down 1.5% at 253.82, Frankfurt's DAX was 2.2% lower at 6 603.25, and Paris's CAC-40 index was down 1.5% at 3 141.70. Spain's IBEX-35 was off 2.7%, while Italy's FTSE MIB was also 2.7% weaker.
French, German and eurozone data compounded the negative mood on Monday. Data showed French business activity was at its weakest level for six months in April.
Germany's private sector expanded at a slower pace in April. A preliminary estimate of the country's manufacturing purchasing managers' index (PMI) for April came in at 46.3 from 48.4 in March, while the services PMI was at 52.6 from 52.1 in March.
