Johannesburg - The JSE started Thursday weaker as a result
of some profit-taking, coming off recent gains over the past few days.
A local trader pointed to firmer US trade which helped push
up local markets by Wednesday's close.
As a result of the push on Wednesday, investors were looking
to take some of the gains this morning, the dealer said.
By 09:05 local time, the JSE All Share [JSE:J203] index was
down 0.43%. Gold dropped 0.95%, resources gave up 0.55%, and platinum counters
declined 0.24%. Banks were 0.59% lower and financials shed 0.42%. Industrials
lost 0.34%
The rand was bid at a firmer R6.97 to the dollar, from R6.99
at the JSE's close on Wednesday. Gold was trading at $1 816.19 a troy ounce
from $1 828.32 at the JSE's previous close, while platinum was at $1 853.50/oz,
from $1 852.50/oz previously.
The trader said a detailed report of the GDP numbers out of
Germany have also dampened sentiment in the eurozone. With reports showing that
growth is coming primarily from exports only, there is some cause for concern.
Dow Jones Newswires reported that Asian markets rose for a
fourth straight day on Thursday following another gain on Wall Street thanks to
upbeat US data, while Chinese manufacturing figures also provided some support.
At 9:05 local time, the Nikkei 225 index was up 1.18% and
the Hang Seng index had lifted 1.24%.
European investors are awaiting further data on the health
of their economies, and may well take a cautious note at first, leaving a mixed
start to the stock markets.
US stock futures are higher on Thursday, after markets advanced on Wednesday, pushing the Dow Jones Industrial Average back into positive territory for 2011 and capping a four-day winning streak that closed a volatile August.