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JSE weaker after positive open

Johannesburg - The JSE slipped into negative territory after opening slightly higher on Wednesday, with the platinum sector leading the decline.

At 09:20 local time, the JSE All Share [JSE:J203] index was down 0.15% to 33,496.10 points, with platinum shares falling 0.74%, gold miners shedding 0.46% and resources counters losing 0.25%.

Financials edged down 0.13%, banking stocks were down 0.34% and industrials slipped 0.10%.

The rand was trading at R7.92 to the US dollar, from R7.90 at the JSE's close on Tuesday, while Gold was quoted at $1 590.95 a troy ounce from $1 602.71/oz at the JSE's previous close and platinum was at $1 503.50/oz, from $1 504.50/oz at the previous session.

"Everything else will pale into insignificance at least in the short term until we have clarity about the political situation in Greece," said Hennie Fourie, stockbroker at PSG Konsult.

European stocks opened higher on Wednesday in a rebound following hefty losses in the previous session, sparked by the political turmoil in Greece, which continues to remain a significant weight on sentiment, Dow Jones Newswires reported.

UK's FTSE 100 index was up 5.54 points to 5,560.09 points at 9:05 local time.

Talks among Greece's leading political parties to form a coalition government languished on Tuesday, meaning fresh elections may have to be held. That raised fears the country may not be able to implement agreed budget cuts and reforms it must make to secure bailout funds.

Across Asia, Japan's Nikkei fell 1.49% while Hong Kong's Hang Seng Index was down 0.74%.

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Rand - Dollar
18.92
+0.1%
Rand - Pound
23.88
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent-ruolie
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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