Johannesburg - The JSE slid at the close of trade
on Friday, led by general mining counters, amid global risk aversion.
At 17:00 local time, the JSE All Share [JSE:J203]
index was down 1.10% to
33 892.58 points, with the resource counters sliding 1.99%; the gold
index dipped 0.27% and platinum shares lost 1.44%.
Industrials edged down 0.42%, financials slid 1.13%, and banks tumbled 1.61%.
The rand weakened to 7.74 to the dollar from 7.58 at the JSE's
close on Thursday. Gold dipped to $1 712.79 a troy ounce from at $1 749.30/oz at the JSE's previous close, while platinum eased to $1 641/oz, from $1 669/oz before.
"Foreigners continue to sell shares and bonds, which is
reflected in the rand/dollar weakness. Greece's debt trouble remains the
catalyst," said Graham Ledbitter, portfolio manager at BoE Private
Drikus Combrinck, portfolio manager at PSG Konsult, said the
rand/dollar weakness related to Saturday's expected announcement.
SA markets are abuzz with expectations after the Reserve Bank
on Friday afternoon scheduled a press conference to make an announcement
of "national importance".
The presidency, the Ministry of Finance and the South African
Reserve Bank will make the announcement jointly at the SARB headquarters
in Pretoria at 15:00 on Saturday.
President Jacob Zuma, Finance Minister Pravin Gordhan and the
Governor of the SARB, Gill Marcus will all be in attendance.
US stocks fell as concerns over whether Greece will be able to
receive bailout funds prompted a pullback following the recent string
of gains, Dow Jones Newswires reports.
European markets were also broadly lower. Eurozone finance
ministers didn't approve a second bailout that Greece needs to stay
afloat, saying Greece's parliament must first approve the new austerity
measures before they will sign off on the loan deal.