Johannesburg - The JSE extended losses at noon on
Tuesday, tracking the weaker trend on world stock markets, with
political uncertainty in Greece still the main catalyst for market
selloffs, in the absence of fresh market moving data.
At 12:03 local time, the JSE All Share [JSE:J203] index was down 0.59% to 33 756.54 points, with platinum shares falling 1.41%, gold miners shedding 0.90% and resource counters losing 0.44%.
Financials lost 0.67%, banking stocks were down 0.97% and industrials dropped 0.65%.
The rand weakened to 7.86 to the US dollar, from 7.82 at the JSE's close on Monday, while Gold was quoted at $1 625.96 a troy ounce from $1 633.76/oz at the JSE's previous close, while platinum was at $1 522/oz, from $1 523.50/oz at the previous session.
"Given the risk-off environment scenario, fuelled by eurozone debt concerns and negative US jobs data last week, I can't think of anything else that will convincingly lift asset prices in the short to medium term other than additional stimulus measures," said Rudi van der Merwe, market analyst at Standard Bank Stockbroking.
European stocks fell on Tuesday on renewed concerns over a potential escalation of the eurozone sovereign debt crisis in coming weeks, as the political gridlock in Greece after the election places pressure on market confidence, Dow Jones Newswires reported.
Traders said the outcome of the French election was largely priced-in by markets, but pointed to renewed uncertainty following inconclusive weekend elections in Greece.
Greece's first efforts to negotiate a cross-party coalition government stumbled on Monday, after conservative leader Antonis Samaras failed to reach a deal with rival lawmakers. With chances for a coalition slim, the country may have to hold new elections soon.
UK's FTSE 100 edged down 0.31% to 5 637.28 points just before noon local time.
Japan led most Asian markets higher, rebounding after heavy losses on Monday, while Hong Kong and China were nudged lower by falling property and bank stocks.
Japan's Nikkei climbed 0.69% while Hong Kong's Hang Seng Index dropped by 0.25%.
US stock-index futures were also lower, taking a cue from Europe, as worries mounted over the inability of Greek party leaders to form a government after inconclusive parliamentary elections over the weekend.
At 12:03 local time, the JSE All Share [JSE:J203] index was down 0.59% to 33 756.54 points, with platinum shares falling 1.41%, gold miners shedding 0.90% and resource counters losing 0.44%.
Financials lost 0.67%, banking stocks were down 0.97% and industrials dropped 0.65%.
The rand weakened to 7.86 to the US dollar, from 7.82 at the JSE's close on Monday, while Gold was quoted at $1 625.96 a troy ounce from $1 633.76/oz at the JSE's previous close, while platinum was at $1 522/oz, from $1 523.50/oz at the previous session.
"Given the risk-off environment scenario, fuelled by eurozone debt concerns and negative US jobs data last week, I can't think of anything else that will convincingly lift asset prices in the short to medium term other than additional stimulus measures," said Rudi van der Merwe, market analyst at Standard Bank Stockbroking.
European stocks fell on Tuesday on renewed concerns over a potential escalation of the eurozone sovereign debt crisis in coming weeks, as the political gridlock in Greece after the election places pressure on market confidence, Dow Jones Newswires reported.
Traders said the outcome of the French election was largely priced-in by markets, but pointed to renewed uncertainty following inconclusive weekend elections in Greece.
Greece's first efforts to negotiate a cross-party coalition government stumbled on Monday, after conservative leader Antonis Samaras failed to reach a deal with rival lawmakers. With chances for a coalition slim, the country may have to hold new elections soon.
UK's FTSE 100 edged down 0.31% to 5 637.28 points just before noon local time.
Japan led most Asian markets higher, rebounding after heavy losses on Monday, while Hong Kong and China were nudged lower by falling property and bank stocks.
Japan's Nikkei climbed 0.69% while Hong Kong's Hang Seng Index dropped by 0.25%.
US stock-index futures were also lower, taking a cue from Europe, as worries mounted over the inability of Greek party leaders to form a government after inconclusive parliamentary elections over the weekend.