Fin24

JSE off week’s highs‚ awaits US data

2012-12-07 11:14

Johannesburg  - The JSE All Share [JSE:J203] index was softer on Friday morning after reaching an all-time high on Thursday due to risk-on trade‚ with some consolidation seen in the market today.

Global participants are awaiting US November nonfarm payrolls and November unemployment rate prints out at 3:30pm local time on Friday. Positive payroll numbers should lead to further risk-on trade‚ as it would indicate that the US recovery is still on track‚ and our local currency and bourse could benefit from this.

At 9:47am‚ the all share index was trading 0.24% softer at 38‚196.19 points‚ with the Top 40 – (Tradeable) [JSE: J200] index giving back 0.30% to 33‚906.75 points.

The banking index dipped 0.75%‚ followed by gold miners slipping a further 0.51% after shedding 2.12% on Thursday. Platinums were 0.23% softer after rallying 2.43% on Thursday.

Asian markets were softer with the Japanese Nikkei 225 closing 0.18% lower‚ while the Hong Kong Hang Seng index was flat (-0.05%) at 9.41am local time.