Fin24

JSE softer ahead of US job report

2012-12-07 14:52

Johannesburg — The JSE was weaker on Friday but broadly flat on the month‚ as investors awaited the monthly US jobs report to gauge the health of the world’s biggest economy.

At 12:36‚ the All Share [JSE:J203] index was down 0.56% to 38 074.74 points‚ with the Top 40 - (Tradeable) [JSE:J200] index giving back 0.64% to 33 790.80 points.

Resources and banks lost 1.01% and 1.03% respectively.

Leading European shares were mostly flat a noon.

Lloyds expects US nonfarm payrolls to show a 90 000 jobs gain‚ a touch above consensus estimates for an increase of 80 000‚ Dow Jones Newswires reported.

“The markets are adopting a cautious stance ahead of the report‚” said Ian Cruickshanks‚ independent analyst. “The rally in all share does not look over extended in the short term‚ from a valuation point of view.”