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JSE drifts lower after record high

Jan 04 2013 10:03

Johannesburg – The JSE drifted lower at the start on Friday morning after hitting a record high on Thursday following good US employment data. 

“The market is drifting lower as people take profits after the past two good sessions. The rand is weaker so that should encourage some rand-hedge stock buying‚ but otherwise we expect a quiet session until the December US non-farm payroll data is released at 3:30pm‚” a local equities trader said. 

At 9:15am‚ the All Share [JSE:J203] index was just 0.17% lower at 40‚176.92 points. Leading the declines‚ gold miners lost 2.55%‚ followed by a 0.29% drop in the resources index.

 

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