Shares open in the red

The JSE moved straight into red territory amid some profit taking, while global sentiment also weighed on the local bourse with both Dow Futures and Asia weaker.

By 9.19am the JSE all share index was down 0.33%, with resources giving up 0.38%, and platinum miners 0.14% lower. Gold miners however, improved 0.46%. Banks were 1.28% weaker, financials were off 0.64% and the industrial index shed 0.13%.

Gold was quoted at $1 147.09/oz from $1 144.68/oz at the JSE's last close. Platinum was at $1 706.50/oz from $1 714.50/oz at the JSE's last close.

A local trader said: "The bourse has started the day weaker amid some profit taking, while negative global sentiment is also playing a part. International markets appear to be in a period of reflection with interest-rate announcements pending.

"A decision on Eskom's loan application is due today and will have a big impact on a number of stocks, particularly those in the construction sector and the like," the trader said.

Dow Jones Newswires reported that European stocks are expected to open lower on Thursday, as market participants wait for the European Central Bank to address the latest concerns about Greece's debt crisis.

Wall Street tumbled ahead of the close Wednesday, although little more than a generally overbought market was cited for the decline. So a downbeat start in Europe is expected too, said Ben Potter, analyst at IG Markets.

On the JSE, Anglo American was R3.06 lower at R324.90 and BHP Billiton shed 85c at R250.50. Sasol dropped 150c to R310.