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The JSE fell deeper into negative territory at noon‚ as weaker than expected Chinese gross domestic product (GDP) data resulted in a selloff in the mining space for the third straight session.
At 12:37‚ the JSE All Share [JSE:J203] index was down 2.13% to 37 808 points‚ with the resources index down 3.76% as gold shares plunged 8.24%. “The market has been hit hard by the poor Chinese GDP data. Gold shares are under severe pressure‚” said Wayne McCurrie‚ analyst at Momentum Wealth.
On the global front‚ major European share markets were mostly lower‚ with London’s FTSE 100 losing 1.15% by 12.22‚ while the Nikkei 225 index closed 1.55% lower.
Among individual shares on the JSE‚ Anglogold Ashanti (ANG) shed 8.39% to R172.86 and Gold Fields (GFI) fell by 7.77% to R56.84.
Amplats (AMS) lost 4.28% to R329.29 and Impala Platinum (IMP) dropped 7.32% to R114.
