The JSE was down sharply at midday on Monday in line with world markets as investors entered the last stretch of a poor month for local equities.
The all share index was off 1.44 to 51‚250 points at lunchtime‚ poised for its worst monthly performance since June when Britons voted to leave the EU.
Markets are trying to fathom the direction of interest rates after the US Federal Reserve and the Bank of Japan decided last week to keep rates on hold.
Momentum SP Reid Securities said: “For the moment‚ the global yield environment continues to favour equities‚ but increasingly investors are embracing the notion that monetary policy is proving insufficient to sustain macroeconomic momentum and encourage strong operational outcomes from corporations.”
The R15.2-trillion all share has had a tough month‚ having fallen nearly 3%‚ dragged down in part by the rand strengthening 7% against the dollar.
Leading European markets were weaker at midday in line with those in Asia.
Commodity prices were mixed. Platinum fell 2% to $1032.90 an ounce‚ but Brent crude rose 1% to $46.45 a barrel.
Anglo American retreated 2.81% to R163.35 and Sasol 1.94% to R364.62. AngloGold Ashanti fell 2.68% to R221.00 and Sibanye Gold 3.39% to R48.11.
Standard Bank lost 1.96% to R141.62 and FirstRand 2.23% to R47.71. Sanlam was 2.17% off at R63.09.
The Foschini Group dropped 2.06% to R141.49 and Naspers 2.46% to R2‚292.18.
JSE retreats as world markets weaken
The all share index was off 1.44 to 51‚250 points at lunchtime‚ poised for its worst monthly performance since June when Britons voted to leave the EU.
Markets are trying to fathom the direction of interest rates after the US Federal Reserve and the Bank of Japan decided last week to keep rates on hold.
Momentum SP Reid Securities said: “For the moment‚ the global yield environment continues to favour equities‚ but increasingly investors are embracing the notion that monetary policy is proving insufficient to sustain macroeconomic momentum and encourage strong operational outcomes from corporations.”
The R15.2-trillion all share has had a tough month‚ having fallen nearly 3%‚ dragged down in part by the rand strengthening 7% against the dollar.
Leading European markets were weaker at midday in line with those in Asia.
Commodity prices were mixed. Platinum fell 2% to $1032.90 an ounce‚ but Brent crude rose 1% to $46.45 a barrel.
Anglo American retreated 2.81% to R163.35 and Sasol 1.94% to R364.62. AngloGold Ashanti fell 2.68% to R221.00 and Sibanye Gold 3.39% to R48.11.
Standard Bank lost 1.96% to R141.62 and FirstRand 2.23% to R47.71. Sanlam was 2.17% off at R63.09.
The Foschini Group dropped 2.06% to R141.49 and Naspers 2.46% to R2‚292.18.
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