Johannesburg - The JSE remained weaker at noon on Monday‚ in line with world markets‚ after the bank bailout deal in Cyprus rattled global equities.
At 12:44‚ the JSE All Share [JSE:J203] index was down 0.85% to 40 411.76 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 0.89%. Platinum and resource indices shed 1.80% and 1.49% respectively.
“The developments in Cyprus are very disturbing indeed in that they raise the potential for contagion risks across the eurozone as well as erode the foundation of trust on which the financial system is premised. As such‚ the global risk off sentiment is appropriate‚” said Mohammed Nalla‚ head of strategic research at Nedbank Capital.
Leading European stock markets were weaker at noon‚ with London’s FTSE 100 down 0.84%.
Among individual stocks on the JSE‚ Anglo American (AGL) gave up 2.37% to R253.36‚ BHP Billiton (BIL) was off 1.74% to R282.90 and Lonmin (LON) shed 4.09% to R44.60‚ while Aquarius Platinum (AQP) gained 3.38% to R7.34.
ArcelorMittal SA (ACL) added 2.10% to R29.63.
Abil (ABL) shed 2.59% to R29.66‚ Santam (SNT) lost 3.25% to R193.51 and Group Five (GRF) was down 2.67% to R36.50.
At 12:44‚ the JSE All Share [JSE:J203] index was down 0.85% to 40 411.76 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 0.89%. Platinum and resource indices shed 1.80% and 1.49% respectively.
“The developments in Cyprus are very disturbing indeed in that they raise the potential for contagion risks across the eurozone as well as erode the foundation of trust on which the financial system is premised. As such‚ the global risk off sentiment is appropriate‚” said Mohammed Nalla‚ head of strategic research at Nedbank Capital.
Leading European stock markets were weaker at noon‚ with London’s FTSE 100 down 0.84%.
Among individual stocks on the JSE‚ Anglo American (AGL) gave up 2.37% to R253.36‚ BHP Billiton (BIL) was off 1.74% to R282.90 and Lonmin (LON) shed 4.09% to R44.60‚ while Aquarius Platinum (AQP) gained 3.38% to R7.34.
ArcelorMittal SA (ACL) added 2.10% to R29.63.
Abil (ABL) shed 2.59% to R29.66‚ Santam (SNT) lost 3.25% to R193.51 and Group Five (GRF) was down 2.67% to R36.50.