Johannesburg - The JSE pared morning gains on Wednesday closing sharply lower with only gold miners making gains due to their safe-haven allure amid negative global market sentiment.
All the other main local indices closed in negative territory as global risk-off trade prevailed due to eurozone economic worries resurfacing.
The European Commission said on Wednesday the headline economic sentiment indicator that aggregates surveys of businesses and consumers across the eurozone fell to 90.0 from 91.1‚ the first decline since October of last year‚ Dow Jones Newswires reported.
Cyprus’s central bank said indications are that the country’s banks will reopen on Thursday after a 12-day closure imposed as the country sought a bail-out from the European Union‚ the European Central Bank and the International Monetary Fund.
On the local front‚ the JSE All Share [JSE:J203] index closed the day 0.94% lower at 39 882.44 points‚ with the blue-chip top 40 index dropping 0.96%.
Platinums plummeted 2.33%‚ financials gave back 1.26% and general retailers dipped 1.19%. The gold mining index garnered 0.19% and the gold price had gained just over $3 to $1 603.28 at 17:06 local time.
“The market has been very volatile today with massive movements in the Alsi. The all share was up 200 points at the opening but moved 500 points lower during the day after optimism about the Cyprus banking bailout deal faded and reality hit home‚” Devin Shutte‚ market analyst at stockbrokerage Newstrading said.
US stocks started the session broadly lower as worries about political instability in Italy and weak eurozone data spooked investors‚ Dow Jones Newswires reported. The Dow Jones industrial index was seen 0.38% softer at 16:51 local time and the London FTSE 100 index was 0.35% lower at the same time.
On the JSE‚ Anglo American (AGL) lost 1.59% to R241.50 and Sasol (SOL) dipped 1.42% to R410.11.
Anglo American Platinum (AMS) shed 3.74% to R386.90 after Atlatsa Resources Corporation (ATL)‚ together with Anglo American Platinum‚ announced that the parties had concluded a R3.5bn revised restructure plan for Atlatsa and the Bokoni group of companies.
Lonmin (LON) dropped 3.02% to close at R41.77.
Gold miner Harmony (HAR) gained 2.73% to R58.68 and newcomer Sibanye (SGL) added 3.10% to R13.30
Banking group Capitec (CPI) ended the session 3.37% stronger at R208.75 after it reported headline earnings increased 47% from R1.078bn to R1.584bn for the year ended February.
All the other main local indices closed in negative territory as global risk-off trade prevailed due to eurozone economic worries resurfacing.
The European Commission said on Wednesday the headline economic sentiment indicator that aggregates surveys of businesses and consumers across the eurozone fell to 90.0 from 91.1‚ the first decline since October of last year‚ Dow Jones Newswires reported.
Cyprus’s central bank said indications are that the country’s banks will reopen on Thursday after a 12-day closure imposed as the country sought a bail-out from the European Union‚ the European Central Bank and the International Monetary Fund.
On the local front‚ the JSE All Share [JSE:J203] index closed the day 0.94% lower at 39 882.44 points‚ with the blue-chip top 40 index dropping 0.96%.
Platinums plummeted 2.33%‚ financials gave back 1.26% and general retailers dipped 1.19%. The gold mining index garnered 0.19% and the gold price had gained just over $3 to $1 603.28 at 17:06 local time.
“The market has been very volatile today with massive movements in the Alsi. The all share was up 200 points at the opening but moved 500 points lower during the day after optimism about the Cyprus banking bailout deal faded and reality hit home‚” Devin Shutte‚ market analyst at stockbrokerage Newstrading said.
US stocks started the session broadly lower as worries about political instability in Italy and weak eurozone data spooked investors‚ Dow Jones Newswires reported. The Dow Jones industrial index was seen 0.38% softer at 16:51 local time and the London FTSE 100 index was 0.35% lower at the same time.
On the JSE‚ Anglo American (AGL) lost 1.59% to R241.50 and Sasol (SOL) dipped 1.42% to R410.11.
Anglo American Platinum (AMS) shed 3.74% to R386.90 after Atlatsa Resources Corporation (ATL)‚ together with Anglo American Platinum‚ announced that the parties had concluded a R3.5bn revised restructure plan for Atlatsa and the Bokoni group of companies.
Lonmin (LON) dropped 3.02% to close at R41.77.
Gold miner Harmony (HAR) gained 2.73% to R58.68 and newcomer Sibanye (SGL) added 3.10% to R13.30
Banking group Capitec (CPI) ended the session 3.37% stronger at R208.75 after it reported headline earnings increased 47% from R1.078bn to R1.584bn for the year ended February.