JSE down on global markets

Moving in tandem with weaker global markets, the JSE opened in the red; weighed down by resource and platinum counters.

At 9.12am the JSE all share index had lost 1.03%, with resources giving up 1.43% and platinum producers down 2.26%, however, gold edged up 0.30%. Banks declined 1.55%, financials were 1.09% lower and industrials weakened 0.55%

"Following the consumer data out of the US last week, the Dow ended down and that followed through into the east this morning and we are following those markets," a local trader said. "For the rest of the day, I see the market coming back a bit. The rand weakness could give the mining shares some support. I don't see us closing down as much," he said.

Dow Jones Newswire reported that US stocks tumbled on Friday, with Bank of America, JPMorgan Chase and Alcoa leading the Dow Jones Industrial Average's components lower as investors again grew concerned about the economy after the short-lived excitement over Thursday's good report on gross domestic product.

Asian share markets traded mostly lower on Monday, tracking declines on Wall Street Friday. Exporters' stocks weighed on the Tokyo market, though shares of Japanese consumer lenders surged.

European stock markets may start a bit lower but selling pressure may give way to bargain-hunting should Wall Street futures hold their gains going into the opening there.

Among equity movers on the JSE, Anglo American Plc gave up R5, or 1.71%, to trade at R287 and BHP Billiton was off R4.08, or 1.89%, to R211.83. Petrochemicals group Sasol lost R2.81 to R292.99.