The JSE was soft at its opening on Monday in line with global sentiment. The local bourse is expected to track events abroad in a day of volatile trade amid continued uncertainty in Europe.
By 9.21am the JSE all share index was 0.99% lower, with resources 0.82% worse off. Platinum miners declined 1.09% but Gold miners gathered 1.32%. Banks were down 1.4%, financials lost 1.11% and industrials were 1.05% weaker. Gold was quoted at $1 237.67/oz from $1 224.29/oz at the JSE's last close. Platinum was at $1 707/oz from $1 715.50/oz at the JSE's last close.
A local trader said: "The JSE is negative in line with the rest of the world, although it is not down by as much as we had expected. Dow futures, although negative, have come back a bit this morning, and we will continue to keep an eye on international markets. The euro is very much the headline story," he said.
European stocks opened lower On Monday, alongside a weaker euro, lower core European bond yields, falling oil prices and rising gold, as investors continue to fret about the viability of the €750 billion rescue package for Greece and the impact of tighter euro-zone fiscal policy on the bloc's economic growth according to Dow Jones Newswires.
On Wall Street Friday, stocks sank as concerns over European debt and the advance of financial overhaul legislation sent investors scuttling away from American Express, Visa and MasterCard.
In Asia, stock markets were lower Monday, dragged down by those heavy losses on Wall Street Friday and ongoing concerns about troubles in the euro zone.
On the JSE, Anglo fell R4.31 or 1.49% to R284.50 while BHP Billiton lost R2.40 or 1.14% to R208.50. Sasol declined R2.64 to R278.86.