JSE tracks east down

Johannesburg -  The JSE started Friday weaker following Asian markets lower.

A local trader said: "Most of weakness on the back of performance out of the far east."

Asian markets were down as a result of weaker than expected earnings reports and this was holding back early trade.

Elsewhere, in Europe, talks regarding Greece's debt continued to drag on, leading to some concern slowly creeping back in.

At 09:14 local time, the JSE All Share [JSE:J203] index had lost 0.31%. Gold stocks were up 0.30%, while platinums lessened 0.20% and resources were in flat territory (-0.08%).

Industrials declined 0.62%, however financials and banks were flat (-0.04% and -0.07% respectively).

The rand was unchanged at R7.65 from the JSE's close on Thursday. Gold was quoted at $1 757.44 a troy ounce from $1 750.48/oz at the JSE's previous close, while platinum was at $1 630.50/oz, from $1 625/oz before.

Dow Jones Newswires reported that Asian stock markets were mostly lower on Friday as many investors took to the sidelines ahead of crucial jobs data from the US later in the global day, with shipbuilders falling in Seoul on weak earnings, while Sony Corp rose sharply in Tokyo on turnaround hopes despite reporting a third quarter net loss.

The regional mood was subdued after an uninspiring lead from Wall Street on Thursday and protracted Greek sovereign debt write-off talks.

The finance ministers of Germany, Finland, the Netherlands and Luxembourg will meet on Friday, a spokesperson for Germany's Ministry of Finance said on Thursday.

The meeting was part of a series of consultations among countries that carry triple-A bond ratings that were likely to involve discussion of the euro's sovereign zone debt crisis, said an official familiar with the talks.

European stock markets as well as bunds and gilts might start mixed on Friday as investors await more Greek debt developments and the US labour data. The euro and spot gold were lower, while oil futures were edging higher.