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Johannesburg - The JSE was decidedly weaker at
noon on Wednesday after a slightly positive start, with political
tension in Greece still the central focus of investor attention.
At 12:02 local time, the JSE All Share [JSE:J203] index was down 0.31% to 33 443.96 points, taking the losses to 2.77% since the start of the month. Platinum shares fell 0.97%, taking the losses in that index to 7.16% since April 30.
Gold miners shed 1.15% but resources recovered 0.35%.
Financials lost 0.46%, banking stocks were down 0.81% and industrials lost 0.65%.
The rand weakened 7.98 to the US dollar, from 7.90 at the JSE's close on Tuesday, while Gold was quoted at $1 581.91 a troy ounce from US$1 602.71/oz at the JSE's previous close and platinum was at $1 502/oz, from $1 504.50/oz at the previous session.
"Investors are flocking to the safety haven of the US dollar, not the traditional haven of gold because of the negative sentiment associated with commodities," said Jean Hamann, portfolio manager at Körner Perspective.
European markets also turned weaker after opening higher, with concerns about the eurozone hitting sentiment, and as 10-year Spanish government bond yields to rose again sharply, Dow Jones Newswires reported.
UK's FTSE 100 was down 0.42% to 5 531.38 points at around noon local time.
In Asia, stock markets ended lower on fresh worries about the fragility of Europe's monetary union following failed coalition talks in Greece.
Japan's Nikkei touched its lowest in almost three months, closing 1.5% lower and China's Shanghai SE Composite fell 1.7%.
US stock-index futures traded lower, pointing to a lower start for Wall Street on Wednesday.
At 12:02 local time, the JSE All Share [JSE:J203] index was down 0.31% to 33 443.96 points, taking the losses to 2.77% since the start of the month. Platinum shares fell 0.97%, taking the losses in that index to 7.16% since April 30.
Gold miners shed 1.15% but resources recovered 0.35%.
Financials lost 0.46%, banking stocks were down 0.81% and industrials lost 0.65%.
The rand weakened 7.98 to the US dollar, from 7.90 at the JSE's close on Tuesday, while Gold was quoted at $1 581.91 a troy ounce from US$1 602.71/oz at the JSE's previous close and platinum was at $1 502/oz, from $1 504.50/oz at the previous session.
"Investors are flocking to the safety haven of the US dollar, not the traditional haven of gold because of the negative sentiment associated with commodities," said Jean Hamann, portfolio manager at Körner Perspective.
European markets also turned weaker after opening higher, with concerns about the eurozone hitting sentiment, and as 10-year Spanish government bond yields to rose again sharply, Dow Jones Newswires reported.
UK's FTSE 100 was down 0.42% to 5 531.38 points at around noon local time.
In Asia, stock markets ended lower on fresh worries about the fragility of Europe's monetary union following failed coalition talks in Greece.
Japan's Nikkei touched its lowest in almost three months, closing 1.5% lower and China's Shanghai SE Composite fell 1.7%.
US stock-index futures traded lower, pointing to a lower start for Wall Street on Wednesday.
