Money SA economy
The JSE saw a soft start on Wednesday taking a lead from stocks in Asia, with global sentiment generally negative.
On the local front, a number of companies are due to release their results on Wednesday, with a local equities trader noting their potential effect on individual share prices on the local bourse.
At 9.19am the JSE all share index was down 0.40%, with resources 0.74% lower, platinum miners lost 0.73%, and gold mining shares gave up 0.84%. Banks were flat, (up 0.08%), but financials declined 0.13%, along with industrials, down 0.19%.
Gold was quoted at $1 105.49/oz from $1 108.05/oz at the JSE's last close, and platinum was at $1 517/oz, from $1 516/oz at the bourse's previous close.
A local trader said: "We have opened softer this morning tracking offshore markets overnight, with Asia mostly weaker, and general sentiment internationally, weaker. South African CPI stats out later, which may affect the market, but generally we are short of economic news flow."
Dow Jones Newswires reports European stock markets are likely to start mixed Wednesday, while investors contemplate the potential effect on earnings from recent evidence that the economic recovery might stall and keep monetary policies loose.
Wall Street futures are inching higher, after US stocks tumbled early on Tuesday as an unexpectedly sharp fall in the consumer confidence index clouded the economic outlook.
Asian stock markets are mostly lower this morning, with exporters in South Korea and Japan pulling those markets down, while resources plays around the region stumbled.
