Johannesburg - The SA share market opened weaker on Friday‚
tracking the bearish tone on global markets.
Anglo American [JSE:AGL]‚ however‚ rallied more than 1.5%
after the resources giant announced that Cynthia Carroll would step down as
chief executive.
“The positive market reaction is not entirely surprising
given that some shareholders were less satisfied with her performance‚
particularly regarding project delays‚ which include the Minas-Rio iron ore
project in Brazil‚” said Nic Norman-Smith‚ chief investment officer at Lentus.
At 9:47am‚ the JSE All Share [JSE:J203] index was down 0.48%
at 36‚817.10‚ with the Top 40 - (Tradeable) [JSE:J200] dipping 0.55% to 32‚626.36. Banks placed much of
the drag‚ losing 1.16%‚ followed by gold shares‚ down 0.94%. Financials gave up
0.83%.
Leading European shares were all weaker in early trade‚ with
London’s FTSE 100 giving up 0.58% by 10.06am local time.
At the same time‚ in Asia‚ Hong Kong’s Hang Seng Index was
down 1.21%