Johannesburg - The JSE slipped further into negative territory at noon on Wednesday in line with the weaker global markets ahead of the release of crucial US economic data this week.
“Markets are second-guessing what the US central bank is going to do to its bond-buying programme after the labour market report‚” said Ryan Wibberley, head of equity dealing for emerging markets at Investec Asset Management. “In the meantime‚ big winners in the recent past are being targeted for profit-taking.”
The rand slipped to R9.93/$‚ from R9.8210/$ at Tuesday’s close.
At 12:42 the JSE All Share [JSE:J203] index was down 0.74% to 40 596.41‚ with banks and industrials each losing 1.71%.
Leading European share markets were weaker at noon‚ with London’s FTSE 100 shedding 1.22%‚ while US stock futures later pointed to a weaker opening on Wall Street.
The US ADP employment report‚ which is largely regarded as the lead indicator to the non-farm payrolls report‚ was due for release.
Among individual shares on the JSE‚ Anglo Platinum (Amplats) was down 2.78% to R299.90‚ but ArcelorMittal SA (ACL) lifted 3.89% to R33.36 and British American Tobacco (BAT) gained 1.03% to R545.20.
MTN (MTN) fell 3.31% to R169.93 and FirstRand (FSR) was off 2.70% to R27.39. WBHO (WBO) was down 2.59% to R149.58.
“Markets are second-guessing what the US central bank is going to do to its bond-buying programme after the labour market report‚” said Ryan Wibberley, head of equity dealing for emerging markets at Investec Asset Management. “In the meantime‚ big winners in the recent past are being targeted for profit-taking.”
The rand slipped to R9.93/$‚ from R9.8210/$ at Tuesday’s close.
At 12:42 the JSE All Share [JSE:J203] index was down 0.74% to 40 596.41‚ with banks and industrials each losing 1.71%.
Leading European share markets were weaker at noon‚ with London’s FTSE 100 shedding 1.22%‚ while US stock futures later pointed to a weaker opening on Wall Street.
The US ADP employment report‚ which is largely regarded as the lead indicator to the non-farm payrolls report‚ was due for release.
Among individual shares on the JSE‚ Anglo Platinum (Amplats) was down 2.78% to R299.90‚ but ArcelorMittal SA (ACL) lifted 3.89% to R33.36 and British American Tobacco (BAT) gained 1.03% to R545.20.
MTN (MTN) fell 3.31% to R169.93 and FirstRand (FSR) was off 2.70% to R27.39. WBHO (WBO) was down 2.59% to R149.58.