Publications
Partners
Johannesburg - The JSE opened on a weaker note on Monday, with softer commodity prices putting downward pressure on the market overall. The US market is closed for Martin Luther King Day holiday in the US today and this could result in subdued trading, a trader said.
By 09:14 local time, the JSE all share index was down 0.26%, with resources shedding 0.64% and platinum miners falling 0.40%. But gold miners flat (-0.06%). Financials lost 0.11%, while banks (-0.08%) and industrials (0.03%) were virtually unchanged.
The rand was trading at R6.95 to the dollar from R6.92 the JSE's close on Friday. Gold was quoted at $1 362.90 a troy ounce from $1 366.58/oz at the JSE's previous close, while platinum was at $1 813.50/oz from $1 811/oz before.
US futures and some Asian bourses are weaker, adding a negative undertone, the trader said. Commodities have come off a bit, contributing to the weakness, she said.
On the corporate front, investors have welcomed Compagnie Financiere Richemont [JSE:CFR] quarterly sales figures and a trading update from Kumba Iron Ore [JSE:KIO] , she said.
Dow Jones Newswires reports Asian stock markets were mostly lower on Monday, with shares in China trading down as investors were cautious after Beijing raised banks' reserve requirement ratio on Friday.
Dow Jones Industrial Average futures were down 15 points in screen trade.
But overall trade was subdued because US markets will be shut on Monday for the Dr. Martin Luther King Jr. holiday, and as investors were cautious after Beijing late Friday said it will raise banks' reserve requirement ratio by 50 basis points, following six hikes last year.
Japan's Nikkei Stock Average was flat (0.04%), while Hong Kong's Hang Seng Index fell 0.57%.
European bourses are likely to open slightly higher Monday, as Friday's gains for US stocks and strength among US banks support markets, but with trading subdued because of the Martin Luther King Day holiday in the US.
By 09:14 local time, the JSE all share index was down 0.26%, with resources shedding 0.64% and platinum miners falling 0.40%. But gold miners flat (-0.06%). Financials lost 0.11%, while banks (-0.08%) and industrials (0.03%) were virtually unchanged.
The rand was trading at R6.95 to the dollar from R6.92 the JSE's close on Friday. Gold was quoted at $1 362.90 a troy ounce from $1 366.58/oz at the JSE's previous close, while platinum was at $1 813.50/oz from $1 811/oz before.
US futures and some Asian bourses are weaker, adding a negative undertone, the trader said. Commodities have come off a bit, contributing to the weakness, she said.
On the corporate front, investors have welcomed Compagnie Financiere Richemont [JSE:CFR] quarterly sales figures and a trading update from Kumba Iron Ore [JSE:KIO] , she said.
Dow Jones Newswires reports Asian stock markets were mostly lower on Monday, with shares in China trading down as investors were cautious after Beijing raised banks' reserve requirement ratio on Friday.
Dow Jones Industrial Average futures were down 15 points in screen trade.
But overall trade was subdued because US markets will be shut on Monday for the Dr. Martin Luther King Jr. holiday, and as investors were cautious after Beijing late Friday said it will raise banks' reserve requirement ratio by 50 basis points, following six hikes last year.
Japan's Nikkei Stock Average was flat (0.04%), while Hong Kong's Hang Seng Index fell 0.57%.
European bourses are likely to open slightly higher Monday, as Friday's gains for US stocks and strength among US banks support markets, but with trading subdued because of the Martin Luther King Day holiday in the US.
