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Johannesburg - The JSE slipped during its opening session on Tuesday, with the platinum sector leading the downside, as political uncertainty in the euro area continued to weigh on global investor sentiment.
At 09:19 local time, the JSE All Share [JSE:J203] index was down 0.29% to 33,858.26 points, with platinum shares falling 1.15%, gold miners shedding 0.73%, while resources counters edged down 0.10%.
Financials lost 0.38%, banking stocks were down 0.70% and industrials dropped 0.37%.
The rand was trading at R7.82 to the US dollar, unchanged from the JSE's close on Monday, while Gold was quoted at $1 630.71 a troy ounce from $1 633.76/oz at the JSE's previous close, while platinum was at $1 527.50/oz, from $1 523.50/oz at the previous session.
"Given the recent market selloff, I wouldn't be surprised to see some buying interest in some sectors. Once again, mining shares have taken a pounding over the political uncertainties in Europe," said Ferdi Heyneke, portfolio manager at Afrifocus Securities.
European stock markets opened lower on Tuesday amid worries over Greece's future as the country's leaders failed to form a coalition government after the weekend's elections, Dow Jones Newswires reported.
Traders noted that concerns about Europe's debt problems remained following weekend elections in France and Greece.
Although the outcome of the French election was largely priced-in by markets, the political gridlock in Greece after elections places pressure on market sentiment.
Greece's leaders will begin cross-party talks to form a government, and with the chances for a coalition slim, a new set of elections is likely.
UK's FTSE 100 edged down 3.64 points to 5,651.42 points.
Asian stock markets were mixed, with Japan rebounding after heavy losses the previous day and property shares pulling China lower on weakening expectations of imminent policy loosening.
Japan's Nikkei climbed 0.69% but Hong Kong's Hang Seng Index slipped 0.36%.
At 09:19 local time, the JSE All Share [JSE:J203] index was down 0.29% to 33,858.26 points, with platinum shares falling 1.15%, gold miners shedding 0.73%, while resources counters edged down 0.10%.
Financials lost 0.38%, banking stocks were down 0.70% and industrials dropped 0.37%.
The rand was trading at R7.82 to the US dollar, unchanged from the JSE's close on Monday, while Gold was quoted at $1 630.71 a troy ounce from $1 633.76/oz at the JSE's previous close, while platinum was at $1 527.50/oz, from $1 523.50/oz at the previous session.
"Given the recent market selloff, I wouldn't be surprised to see some buying interest in some sectors. Once again, mining shares have taken a pounding over the political uncertainties in Europe," said Ferdi Heyneke, portfolio manager at Afrifocus Securities.
European stock markets opened lower on Tuesday amid worries over Greece's future as the country's leaders failed to form a coalition government after the weekend's elections, Dow Jones Newswires reported.
Traders noted that concerns about Europe's debt problems remained following weekend elections in France and Greece.
Although the outcome of the French election was largely priced-in by markets, the political gridlock in Greece after elections places pressure on market sentiment.
Greece's leaders will begin cross-party talks to form a government, and with the chances for a coalition slim, a new set of elections is likely.
UK's FTSE 100 edged down 3.64 points to 5,651.42 points.
Asian stock markets were mixed, with Japan rebounding after heavy losses the previous day and property shares pulling China lower on weakening expectations of imminent policy loosening.
Japan's Nikkei climbed 0.69% but Hong Kong's Hang Seng Index slipped 0.36%.
