Money SA economy
The JSE opened in red territory on Friday in line with global sentiment. The local bourse is expected to keep an eye on events abroad, with US April retail sales data out later.
By 9.16am the JSE all share index was 0.68% lower, with resources 1.18% worse off. Platinum miners declined 1.24% and Gold miners inched 0.10% lower. Banks were down 0.81%, financials lost 0.53% and industrials were 0.32% weaker. Gold was quoted at $1,233.70/z from $1,238.41/oz at the JSE's last close. Platinum was at $1,723/oz from $1,734/oz at the JSE's last close.
A local trader said: "The JSE has seen a red start this morning, very much in line with global markets. The Dow ended lower, along with Asia." The trader noted that market concerns continue over the fiscal woes in the euro zone.
European stocks opened lower on Friday, with losses on Wall Street on Thursday adding downside pressure amid ongoing concerns about the potential drag on growth in the euro zone as governments in the region take measures to bring their swelling fiscal deficits under control, according to Dow Jones Newswires.
On Wall Street Thursday, stocks fell as earnings guidance and results from retailers disappointed.
In Asian markets Friday, stocks moved mostly lower, with Japanese exporters falling on the yen's recent strength, while shares in Thailand fell as clashes late Thursday between troops and anti-government protesters left several injured and one person dead.
