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Johannesburg - The JSE opened in the red on Friday as a bout of profit taking
hit resources and banking stocks, while a weaker global backdrop did not help
sentiment.
By 09:19 local time the JSE all share index had lost 0.58%, with banks heading south by 1.09% and financials by 0.68%. Resources were off by 0.84%, with platinum counters down 0.10% and golds up 0.04%. Industrials were down by 0.30%.
The rand was bid at R7.33 to the dollar from R7.32 at the JSE's close on Thursday.
Gold was quoted at $1 168.83 a troy ounce from $1 162.70/oz at the JSE's previous close, while platinum was at $1 554.50/oz from $1 558/oz before.
A local dealer said the lower opening was due to profit taking, mainly on resources and banks.
Anglo American [JSE:AGL], the world's third largest resources group, on Friday reported a 31% drop in its first half profit to $2.06bn, or $1.71 a share, from $2.97bn, or $2.47 a share, previously.
The dealer confirmed that Anglo, a benchmark, counter was sold in early trade, and this affected sentiment.
Dow Jones Newswires reports that US.stock futures are lower on Friday, after markets turned lower on Thursday. Investors said some earlier enthusiasm around second-quarter earnings was waning as investors looked ahead to Friday's release of a new second-quarter gross domestic product estimate and key data points next week.
Asian stock markets are lower, with government bonds higher, while investors shift into safe mode ahead of the pivotal US GDP data later that could shed light on an expected US slowdown. European stock markets, while garnering some support from regional improvement, may start lower on US concerns. Government debt is likely to tilt higher. The euro and sterling are falling against the safe-haven yen, while spot gold is higher and oil futures are a bit lower.
The Dow ended down 0.29% at 10 467.16, while the Hang Seng was off by 0.49% at 20 991.41.
- I-Net Bridge
By 09:19 local time the JSE all share index had lost 0.58%, with banks heading south by 1.09% and financials by 0.68%. Resources were off by 0.84%, with platinum counters down 0.10% and golds up 0.04%. Industrials were down by 0.30%.
The rand was bid at R7.33 to the dollar from R7.32 at the JSE's close on Thursday.
Gold was quoted at $1 168.83 a troy ounce from $1 162.70/oz at the JSE's previous close, while platinum was at $1 554.50/oz from $1 558/oz before.
A local dealer said the lower opening was due to profit taking, mainly on resources and banks.
Anglo American [JSE:AGL], the world's third largest resources group, on Friday reported a 31% drop in its first half profit to $2.06bn, or $1.71 a share, from $2.97bn, or $2.47 a share, previously.
The dealer confirmed that Anglo, a benchmark, counter was sold in early trade, and this affected sentiment.
Dow Jones Newswires reports that US.stock futures are lower on Friday, after markets turned lower on Thursday. Investors said some earlier enthusiasm around second-quarter earnings was waning as investors looked ahead to Friday's release of a new second-quarter gross domestic product estimate and key data points next week.
Asian stock markets are lower, with government bonds higher, while investors shift into safe mode ahead of the pivotal US GDP data later that could shed light on an expected US slowdown. European stock markets, while garnering some support from regional improvement, may start lower on US concerns. Government debt is likely to tilt higher. The euro and sterling are falling against the safe-haven yen, while spot gold is higher and oil futures are a bit lower.
The Dow ended down 0.29% at 10 467.16, while the Hang Seng was off by 0.49% at 20 991.41.
- I-Net Bridge
