Johannesburg - The JSE remained weaker at noon on Wednesday‚ despite European shares improving on earlier lows in the session.
At 12:00 local time‚ the JSE All Share [JSE:J203] index was down 0.69% at 33‚765.34 points‚ with resources losing 0.96%‚ gold shares tumbling 2.06% and platinum counters shedding 0.65%.
Financials gave up 0.62%‚ banking stocks were off 1.05% and industrials were down 0.53%.
The rand was trading at 8.19 to the US dollar‚ unchanged from the JSE’s close on Tuesday‚ while gold changed hands at $1 576.87 a troy ounce from $1 585.98/oz at the JSE’s previous close and platinum was quoted at $1 428.50/oz‚ from $1 435.50/oz previously.
“The faltering global economic growth scenario is the dominant theme‚ as investors continue to digest the unfolding US second quarter corporate earnings data‚” said Mohammed Nalla‚ strategic analyst at Nedbank Capital. “The FOMC (Federal Open Market Committee) minutes will give markets directions in the short term‚ followed by China’s second quarter GDP numbers‚ due on Friday.”
Investors will be looking for guidance from the minutes about potential further stimulus measures from the US.
In Europe‚ London’s FTSE 100 index down 0.37% at about noon local time.
A round of profit warnings from US companies and ongoing concerns about the eurozone debt crisis and global growth undermined sentiment‚ Dow Jones Newswires reported.
In Asia‚ stock markets were lower‚ with Japan’s Nikkei average ending the session 0.08% softer‚ while the Hang Seng index had gained 0.12% by the close.
At 12:00 local time‚ the JSE All Share [JSE:J203] index was down 0.69% at 33‚765.34 points‚ with resources losing 0.96%‚ gold shares tumbling 2.06% and platinum counters shedding 0.65%.
Financials gave up 0.62%‚ banking stocks were off 1.05% and industrials were down 0.53%.
The rand was trading at 8.19 to the US dollar‚ unchanged from the JSE’s close on Tuesday‚ while gold changed hands at $1 576.87 a troy ounce from $1 585.98/oz at the JSE’s previous close and platinum was quoted at $1 428.50/oz‚ from $1 435.50/oz previously.
“The faltering global economic growth scenario is the dominant theme‚ as investors continue to digest the unfolding US second quarter corporate earnings data‚” said Mohammed Nalla‚ strategic analyst at Nedbank Capital. “The FOMC (Federal Open Market Committee) minutes will give markets directions in the short term‚ followed by China’s second quarter GDP numbers‚ due on Friday.”
Investors will be looking for guidance from the minutes about potential further stimulus measures from the US.
In Europe‚ London’s FTSE 100 index down 0.37% at about noon local time.
A round of profit warnings from US companies and ongoing concerns about the eurozone debt crisis and global growth undermined sentiment‚ Dow Jones Newswires reported.
In Asia‚ stock markets were lower‚ with Japan’s Nikkei average ending the session 0.08% softer‚ while the Hang Seng index had gained 0.12% by the close.