Johannesburg - The SA share market extended losses at noon‚
tracking bearish global market sentiment.
International event risks were fairly limited‚ with
investors focusing in the main on the unfolding US third quarter corporate
profits.
At 12:48pm‚ the JSE All Share [JSE:J203] index was down
0.39% at 36‚355.10 points‚ with Top 40 - (Tradeable) [JSE:J200] index slipping
0.41% at 32‚218.68.
“With all things being equal‚ our market is holding quite
well above the 36‚000 level on the all-share index. However‚ it is not an
investment friendly environment right now. There is the potential threat of
further foreign sales‚ rather than purchases‚ of SA assets‚” said Ian Cruickshanks‚
independent financial markets analyst. “Labour unions have discovered their
strength and are using it to push for salary increases. Both manufacturing and
mining data on Thursday were disappointing‚ which would probably lead to
earnings downgrades for companies.”
Leading European stock benchmarks were in the red at about
noon‚ with London’s FTSE 100 dipping 0.17%.
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