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Johannesburg - The JSE opened lower on Monday, on continuing concerns about the eurozone.
At 09:29 local time, the JSE All Share [JSE:J203] index was down 0.43% to 33 893.12 points, with resources losing 1.23%, platinum miners dropping 1.24% and gold mining counters shedding 1.60%.
Financials were down 0.32%, while banking stocks were off 0.67% and industrials were fairly flat (0.07%).
The rand weakened to 8.15 to the US dollar, from 8.07 at the JSE's close on Friday, while gold was quoted at $1 573.45 a troy ounce from $1 588.55/oz at the JSE's previous close and platinum was at $1 457/oz, from $1 475.50/oz at the previous session.
"Resources are being smacked due to the concerns about eurozone growth. That is pulling down the whole market," said a local trader.
The FTSE 100 opened lower and was down 1.14% at 09:25 local time. This was because weekend headlines about Greece added to investor jitters. Greece's political party leaders failed in a last-ditch attempt to form a coalition after radical leftist party Syriza said it wouldn't join or support New Democracy or Pasok in a pro-austerity government. There are no major UK or US data releases due today.
A "massive" economic impact awaited Britain should the eurozone fail to contain the turmoil sweeping the continent, UK Business Secretary Vince Cable warned in the UK daily The Times.
At 09:29 local time, the JSE All Share [JSE:J203] index was down 0.43% to 33 893.12 points, with resources losing 1.23%, platinum miners dropping 1.24% and gold mining counters shedding 1.60%.
Financials were down 0.32%, while banking stocks were off 0.67% and industrials were fairly flat (0.07%).
The rand weakened to 8.15 to the US dollar, from 8.07 at the JSE's close on Friday, while gold was quoted at $1 573.45 a troy ounce from $1 588.55/oz at the JSE's previous close and platinum was at $1 457/oz, from $1 475.50/oz at the previous session.
"Resources are being smacked due to the concerns about eurozone growth. That is pulling down the whole market," said a local trader.
The FTSE 100 opened lower and was down 1.14% at 09:25 local time. This was because weekend headlines about Greece added to investor jitters. Greece's political party leaders failed in a last-ditch attempt to form a coalition after radical leftist party Syriza said it wouldn't join or support New Democracy or Pasok in a pro-austerity government. There are no major UK or US data releases due today.
A "massive" economic impact awaited Britain should the eurozone fail to contain the turmoil sweeping the continent, UK Business Secretary Vince Cable warned in the UK daily The Times.
