• Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

All data is delayed
See More

JSE follows world markets weaker

Jul 23 2012 17:59
I-Net Bridge
Johannesburg - The JSE closed weaker on Monday afternoon‚ with fears mounting that Spain might need a formal bailout casting a shadow on local markets‚ and sending world markets tumbling as risk aversion returns.

“The main issue is the uncertainly about the future of Greece and once again Spanish problems with the Spanish regulator announcing that it had banned short-selling of stocks for three months‚ which added to general nervousness in markets‚” said Francois du Plessis‚ director at Vega Asset Management.

“Also a concern is the stronger dollar — which is seen as a safe haven currency — which will eat into multi-national profit margins going forward‚” he said.

“Today saw risk-aversion across the globe which affected metal and minerals negatively‚ as they are very exposed to risk-aversion. The stronger the dollar the more expensive it is to buy commodities and therefore we have seen local declines in metal and mineral counters‚” he added.

At 17:00 local time‚ the All Share [JSE:J203] index was down 1.20% to 33 814.83. Anglo American‚ which lost R7.50‚ or 2.85%‚ to R255.50 and BHP Billiton gave up R4.90‚ or 2.08%‚ to R230.68 were some of the biggest losers in general resources.
jse  |  markets  |  stocks



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote