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JSE in the red over global pressure

Dec 10 2012 13:26 I-Net Bridge


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Johannesburg — The JSE was in the red at noon on Monday as mixed global data added pressure to local markets.

“The JSE is down on the back of both positive and negative data from the US and China. Germany cut its interest rates‚ and‚ being the biggest economy in Europe‚ this highlighted that economic conditions in the EU and the rest of the world were still under pressure‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.

At 12:00‚ the All Share [JSE:J203] index was down 0.20% to 38‚117.74 points‚ with the banking index shedding 0.75% and the platinum index adding 0.87%.

“China also reported a rise in inflation and this‚ coupled with other economic news and data‚ is creating negative sentiment; this is bad for South African markets. Appetite for emerging markets is at a low‚” he said.

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