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JSE tracks global stocks down

Johannesburg - South African stocks fall more than 1% as a resurgent eurozone debt crisis set up the benchmark JSE Top 40 - (Tradeable) [JSE:J200] index for its biggest weekly percentage decline in more than seven months.

The index is down 1.05% at 29 270.76, extending this week’s losses to 2.67% and the biggest percentage decline since November 6. The broader All Share [JSE:J203] index is down 1.03% at 33 189.22.

“This drop is being sparked by Europe, but the rand is providing a bit support for the market and local institutions are also coming in at these levels,” says Bruno van Eck, a trader at Thebe Securities.

The rand, which when weak supports miners and exporters, hit a fresh five-month low against the dollar on Friday, falling in line with other emerging market currencies hit by another bout of risk aversion stemming from a frail global growth outlook and concerns about Europe’s banks.

 
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Rand - Dollar
18.90
+0.2%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.36
+0.3%
Rand - Aus dollar
12.31
+0.3%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
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