Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - South African stocks opened in the
red on Thursday in line with Asian bourses which were weaker in the wake of a fall on Wall Street on Wednesday.
At 09:15 the JSE all share index had weakened 0.41%, with resources down 0.50% and platinum counters giving up 0.42%, but gold miners edged up 0.15%.
Banks and financials were off 0.88% and 0.60% respectively and
industrials eased 0.14%.
The rand was bid at R7.46 to the dollar from R7.36 just before the JSE closed on Wednesday. Gold was quoted at $1 057.20 a troy ounce from $1 060.30/oz just before the JSE's last close, and platinum was at $1 363/oz, from $1 356.50/oz at its previous close.
"Markets opened down this morning on the back of world markets," a local trader said.
"US stocks ended lower and eastern markets followed suit this morning. We are moving in line with those markets. The rand may be lending some support to the market. I think the likes of Anglo and Billiton are holding up pretty well," he said.
The trader noted that for the rest of the day we were likely to eye world markets and take direction from there.
"US futures are slightly weaker at present. What ever happens now with the earning in the US we will take lead from there," he added.
- I-Net Bridge