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Johannesburg - The JSE remained on the back foot
at noon on Tuesday, reflecting the sentiment on global equity markets,
as a potential Greek default on its loans worried investors.
By 12:02 local time, the JSE All Share [JSE:J203] index was down 1.62% to 29 393.65 points, with resources losing 1.84%, gold stocks weakening 1.67% and platinum miners slipping 1.29%. Banks edged down 0.12%, while industrials slid 1.80% and financials dipped 0.77%.
The rand was bid at 8.24 to the dollar, unchanged from the JSE's close on Monday. Gold traded at $1 669.61 a troy ounce from $1 650.18/oz at the JSE's previous close, while platinum was at $1 486/oz, from $1 502.50/oz previously.
"The potential Greek default is still very much the focus of investor attention at the moment. Our market though did not sell off as much as the international markets due to rand weakness supporting export-orientated stocks," said Byron Lotter, portfolio manager at Vestact.
Dow Jones Newswires reported that European markets were hit by more waves of selling on Tuesday, while the euro and European bank shares slid, credit default swap spreads widened and base metals slumped - hitting all the major stock indexes.
The latest turmoil came after eurozone finance ministers delayed a decision on Greece's next tranche of bailout loans and further fears were raised about troubled French-Belgian bank Dexia SA.
The backdrop was not encouraging in any case, with last week's hopes that the eurozone's primary bailout mechanism, the European Financial Stability Facility, might be beefed up and leveraged into a multi-trillion euro leviathan now all but dashed.
London's FTSE 100 was down 2.24% to 4 961.87 points.
Asian shares ended lower after volatile trade, amid fresh concerns Greece may default on its debt after eurozone finance ministers delayed the approval of a much-needed loan disbursement at a protracted meeting Monday.
"Unfortunately for investors, the start of a new quarter has not heralded a change in sentiment with the market continuing to grapple with Greece's debt predicament and concerns of a broadening global slowdown," said Cameron Peacock, market analyst at IG Markets in Sydney.
Japan's Nikkei Stock Average shed 1.1% to 8 456.12, while Hong Kong's Hang Seng Index ended 3.4% lower at 16 250.27 points.
By 12:02 local time, the JSE All Share [JSE:J203] index was down 1.62% to 29 393.65 points, with resources losing 1.84%, gold stocks weakening 1.67% and platinum miners slipping 1.29%. Banks edged down 0.12%, while industrials slid 1.80% and financials dipped 0.77%.
The rand was bid at 8.24 to the dollar, unchanged from the JSE's close on Monday. Gold traded at $1 669.61 a troy ounce from $1 650.18/oz at the JSE's previous close, while platinum was at $1 486/oz, from $1 502.50/oz previously.
"The potential Greek default is still very much the focus of investor attention at the moment. Our market though did not sell off as much as the international markets due to rand weakness supporting export-orientated stocks," said Byron Lotter, portfolio manager at Vestact.
Dow Jones Newswires reported that European markets were hit by more waves of selling on Tuesday, while the euro and European bank shares slid, credit default swap spreads widened and base metals slumped - hitting all the major stock indexes.
The latest turmoil came after eurozone finance ministers delayed a decision on Greece's next tranche of bailout loans and further fears were raised about troubled French-Belgian bank Dexia SA.
The backdrop was not encouraging in any case, with last week's hopes that the eurozone's primary bailout mechanism, the European Financial Stability Facility, might be beefed up and leveraged into a multi-trillion euro leviathan now all but dashed.
London's FTSE 100 was down 2.24% to 4 961.87 points.
Asian shares ended lower after volatile trade, amid fresh concerns Greece may default on its debt after eurozone finance ministers delayed the approval of a much-needed loan disbursement at a protracted meeting Monday.
"Unfortunately for investors, the start of a new quarter has not heralded a change in sentiment with the market continuing to grapple with Greece's debt predicament and concerns of a broadening global slowdown," said Cameron Peacock, market analyst at IG Markets in Sydney.
Japan's Nikkei Stock Average shed 1.1% to 8 456.12, while Hong Kong's Hang Seng Index ended 3.4% lower at 16 250.27 points.
