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Johannesburg - The SA share market slipped at noon‚ pausing
for breath after a strong run this week‚ which resulted in record peaks on the
All Share [JSE:J203] and Top 40 - (Tradeable) [JSE:J200] indexes.
At 12:43pm‚ the JSE All Share index was 0.35% weaker at
37‚143.54 and the Top 40 index shed 0.37% to 32‚914.72. Gold counters dropped
1.96% but resources edged up 0.29%‚ boosted by investor sentiment flowing from
China’s third quarter gross domestic product print.
“Profit taking is to be expected after a pretty decent
performance of the local equities‚” said Rabi Thithi‚ portfolio manager at
Imara SP Reid. “The rand continues to strengthen to the US dollar‚ putting
pressure on rand-hedged stocks.”
Leading European stock markets were marginally higher at
noon‚ with the UK’s FTSE 100 nudging up 15% by 12.28pm local time.
Asian shares ended firmer‚ buoyed by China's economy‚ which grew 7.4% year on year in the third quarter‚ from 7.6% in the second quarter.
