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JSE falls for 3rd straight day, Amplats skids

Johannesburg - South Africa's stock indices fell for a third straight session on Monday, in line with a broad sell-off in major overseas markets as Greece moved closer to a debt default after talks with creditors failed.

The benchmark JSE Top-40 index lost 1.13% to 45 608 and the All-share index, the broadest measure of the South African stock market performance, was off 1.02% at 51 297.

South African shares have been under pressure in recent weeks on worries about the ramifications of a Greek debt default and concerns about how soon the US central bank might raise interest rates.

"Since the markets made their highs in late April, the going has been tough," said Sasha Naryshkine, a fund manager at Vestact. "The two issues continue to plague global markets," he said referring to Greek's debt woes and US rates.

Among movers, Anglo American Platinum [JSE:AMS], which flagged at least 20% rise in half-year profit was down 1.8% at R289.88 and rival Impala Platinum [JSE:IMP] was 2.09% lower at R59.12

Platinum fell to a six-year low on Monday as producers in South Africa begin to normalise output following last year's unprecedented five-month strike.

MTN [JSE:MTN] slipped nearly 1% to R218.91 rand, extending losses to about 7% since a strike over higher pay that has hit its supply chain started nearly four weeks ago.

Trading volumes were thin, with just over 142 million shares, or about 76% of last year's daily average, changing hands as some local traders had taken the day off ahead of a public holiday on Tuesday.

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Rand - Dollar
18.92
+0.1%
Rand - Pound
23.88
+0.1%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.13
+0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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