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Johannesburg - The JSE remained weaker at noon on
Monday, as investors took profits following last week's strong gains.
Resource stocks led the decline, while the gold index remained the bright spot.
By 12:00 local time, the JSE All Share [JSE:J200] index was down 1.12% to 32 525.82 points, with resources shedding 1.52% and platinum miners losing 0.75%. Gold, however, rose 1.26%.
Financials dipped 0.75%, banks dropped 0.87%, and industrials gave up 1.06%.
The rand was trading at 7.84 to the dollar, from 7.70 at the JSE's close on Friday. Gold traded at $1 718.49 a troy ounce from $1 744.59/oz at the JSE's previous close, while platinum was at $1 608/oz, from $1 649.20/oz previously.
"It is a bit of consolidation after a hell of a run last week. Investors are taking profits, while waiting for the next step out of Europe," said Ian Cruickshanks, market watcher at Nedbank Capital.
Global stock markets rallied on Thursday after European leaders tabled a plan to contain the region's sovereign-debt and banking crisis that included a 50% write-down on Greek government debt held by private bondholders and a boost to the region's bailout fund.
Dow Jones Newswires reported that European stocks fell on Monday as doubts crept in about the effectiveness of the European Union's summit deal. "The program still lacks clear details regarding the technicalities of the different measures," said brokerage Newedge. London's FTSE 100 index was down 1.18% to 5,635.18 points.
Capping off a volatile month, Asian stocks ended mostly lower, with regional resources stocks falling as the US dollar was broadly higher after Japanese authorities intervened to weaken the yen.
Japanese Prime Minister Yoshihiko Noda said the government conducted the intervention to ward off damage to the export-driven economy from the yen's strength.
Japan's Nikkei Stock Average ended down 0.7% after choppy trade, with the index up 3.3% for the month, but still down 12.1% for the year.
Hong Kong's Hang Seng Index declined 0.8%, but finished the month up 12.9%, while China's Shanghai Composite Index was 0.2% lower on the day and up 4.6% for October.
Resource stocks led the decline, while the gold index remained the bright spot.
By 12:00 local time, the JSE All Share [JSE:J200] index was down 1.12% to 32 525.82 points, with resources shedding 1.52% and platinum miners losing 0.75%. Gold, however, rose 1.26%.
Financials dipped 0.75%, banks dropped 0.87%, and industrials gave up 1.06%.
The rand was trading at 7.84 to the dollar, from 7.70 at the JSE's close on Friday. Gold traded at $1 718.49 a troy ounce from $1 744.59/oz at the JSE's previous close, while platinum was at $1 608/oz, from $1 649.20/oz previously.
"It is a bit of consolidation after a hell of a run last week. Investors are taking profits, while waiting for the next step out of Europe," said Ian Cruickshanks, market watcher at Nedbank Capital.
Global stock markets rallied on Thursday after European leaders tabled a plan to contain the region's sovereign-debt and banking crisis that included a 50% write-down on Greek government debt held by private bondholders and a boost to the region's bailout fund.
Dow Jones Newswires reported that European stocks fell on Monday as doubts crept in about the effectiveness of the European Union's summit deal. "The program still lacks clear details regarding the technicalities of the different measures," said brokerage Newedge. London's FTSE 100 index was down 1.18% to 5,635.18 points.
Capping off a volatile month, Asian stocks ended mostly lower, with regional resources stocks falling as the US dollar was broadly higher after Japanese authorities intervened to weaken the yen.
Japanese Prime Minister Yoshihiko Noda said the government conducted the intervention to ward off damage to the export-driven economy from the yen's strength.
Japan's Nikkei Stock Average ended down 0.7% after choppy trade, with the index up 3.3% for the month, but still down 12.1% for the year.
Hong Kong's Hang Seng Index declined 0.8%, but finished the month up 12.9%, while China's Shanghai Composite Index was 0.2% lower on the day and up 4.6% for October.
