Money SA economy
The JSE extended its losses in midday trade on Friday tracking negative global sentiment.
A trader noted some profit taking on the local bourse ahead of the weekend, while markets will eye US April retail sales data out later. By noon the JSE all share index was 1.7% lower, with resources 2.42% worse off. Platinum miners declined 3.83% but Gold miners inched 0.06% firmer. Banks were down 2.36%, financials lost 1.73% and industrials were 0.96% weaker.
Gold was quoted at $1,245.58/oz from $1,238.41/oz at the JSE's last close. Platinum was at $1,719/oz from $1,734/oz at the JSE's last close.
A local trader said: "Global sentiment is negative at the moment. Markets are jittery. We have had a very volatile week contrasting stark losses with strong gains. We have seen some profit taking ahead of the weekend, while markets will watch out for US April retail sales data out later," he said. The trader also noted a firm gold price, trading at record highs again having already set new marks earlier in the week.
Dow Jones Newswires reported that European stocks dropped Friday, with losses on Wall Street Thursday adding downside pressure amid ongoing concerns about the potential impact on euro-zone economic growth as governments in the region take measures to bring their swelling fiscal deficits under control.
In Asia Friday, stocks moved mostly lower, with Japanese exporters falling on the yen's recent strength, while shares in Thailand fell as clashes on Thursday between troops and anti- government protesters left several injured and one person dead.
On the JSE, Anglo shed R10.30 or 3.41% to R291.50, and BHP Billiton lost R5.33 or 2.43% to R213.99. Sasol shipped R3.62 or 1.27% to R281.60.
