Money SA economy
The JSE largely ignored international markets on Thursday morning, opening in the red amid profit taking, a local equities trader said.
At 9.19am the JSE all share index was down 0.68%, with resources 1.10% lower, platinum miners lost 0.95%, and gold mining shares gave up 1.34%. Banks subsided 0.59%, along with financials down 0.44% and industrials gave up 0.36%.
Gold was quoted at $1 092.90/oz from $1 098.55/oz at the JSE's last close, and platinum was at $1 511.50/oz, from $1 509/oz at the bourse's previous close.
A local trader said: "We are weaker this morning again, largely ignoring international markets. Although Asia is a bit weaker, the Dow closed firmly higher overnight. The rand is a weaker, but that hasn't helped resources, which are under a bit of pressure. Some shares are starting to get a little expensive, and it does appear that there is a bit of profit taking on the local market, with some stocks having run quite hard of late."
Dow Jones Newswires reports European stocks are expected to open lower Thursday, as renewed worries over Greece, which also results in a sharp fall in the euro against major currencies, results in a slump in Asian equity markets.
In Asia regional stocks were mostly lower with exporters weak in Tokyo, though banks, property developers support China's market. The Nikkei was down 0.9%, and the Hange Seng dropped 0.7%.
