Money SA economy
The JSE was weaker at noon on Monday as earlier delays slowed trading, which only started at 10.30am - one-and-a-half hours later than its normal 09.00am opening - due to a technical glitch.
By noon local time the JSE all share index had lost 0.60%. Resources fell 0.95%, and gold producers were virtually flat at 0.07%.
Platinum miners defied the trend, rallying 1.23%. Banks declined 0.50%, financials gave up 0.28%, and industrials fell 0.40%. Gold was quoted at $1 205.72 a troy ounce from $1 208.54/oz at the JSE's previous close, while platinum was at $1 524/oz from $1 534/oz before.
A local trader said the domestic market had a very slow start following delays, noting that investors were focused on the start of the earnings season in the US.
The JSE said the technical issue was due to the exchange's "international connectivity on the equities market".
"The JSE opened the equities market at 10.30am today after identifying and resolving the cause of the technical issues affecting the exchange's international connectivity on the market. The JSE's international links are provided by MTN and the two companies are refining the analysis of the cause," the company said.
Dow Jones Newswires reports that most Asian markets advanced on Monday as strong Chinese exports data and extended gains on Wall Street aided sentiment in the region.
European stocks pared early gains to trade little changed on Monday, with volumes remaining low across the board, as investors kept to the sidelines ahead of the start of the US earnings season.
On the JSE, Anglo American plc shed R4.76 or 1.71% to R274.39, BHP Billiton fell R3.67 or 1.72% to R209.60 and Sasol lost R2.52 to R278.88.
