Money SA economy
The JSE lost further ground in midday play on Tuesday amid risk aversion on commodities, and negative global sentiment.
By 12pm the JSE all share index fell 1.42%, with resources down 1.08%, and platinum miners gave up 2.34%. Gold miners lost 1.35%. Banks shed 2.64%, financials weakened 1.68%, and industrials were 1.64% lower. Gold was quoted at $1 221.27/oz from $1 216.97/oz at the JSE's close on Monday. Platinum was at $1 545.50/oz from $1 566.00/oz at the JSE's last close.
A local equities trader said: "We have seen some risk aversion today, particularly among commodities. Global sentiment is negative with the FTSE down 2%, while the US is set to play catch up particularly on news of Spain's sovereign-debt rating cut on Friday."
Dow Jones Newswires reports that US stocks are set to open lower on Tuesday with losses on European and Asian markets adding pressure amid political ructions in Germany and Japan, and rumours that France's credit rating is at risk, according to David Morrison at GFT.
Asian stock markets ended lower on Tuesday on signs of a slowdown in the pace of China's economic growth.
On the JSE at noon, Anglo lost 136c to R289.64, while BHP Billiton was flat at R207.98. Sasol dropped R8.58 or 3.07% to R271.20.
