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The JSE. Photo: Simphiwe Mbokazi.

The JSE ended decidedly weaker on Monday, led by industrials and banks, amid global investor jitters about a potential Greek default on its loan repayments.

At 17:00, the JSE all-share index ended 0.61% in the red at 34,176.30 points, led by banks down 1.39%, industrials off 1.05% and financials shedding 0.86%.

Gold stocks however lifted 1.23%, while resources and platinums were flat (both -0.03%).

The rand was trading at 7.58 to the dollar from 7.57 at the JSE's close on Friday. Gold slipped to US$1,720.61 a troy ounce from US$1,735.32/oz at the JSE's previous close, while platinum was quoted at US$1,615.58/oz, from US$1,617.54/oz before.

“Investors are taking profits off the table while discussions are still on in Greece to implement further austerity measures, as demanded by the European Union, the International Monetary Fund and the European Central Bank,” said Sudheer Singh, equity trader at Sasfin Securities.

US stocks declined on Monday, giving pause to the recent rally, as investors shifted their focus to wrangling in Greece over fiscal austerity, Dow Jones Newswires reports.

All 10 of the S&P 500's sectors opened in the red, with consumer staple and telecommunication stocks leading declines.

European markets were also broadly lower, pulling back from a six-month high, as Greece's political leaders tried to agree on fiscal austerity measures needed to keep Athens from defaulting on its debts next month.

Greece is holding talks with its European partners and the International Monetary Fund on a new bailout. At the same time, Greece is in debt-reduction talks with its private creditors.

Asian bourses ended mostly higher, with Japan's Nikkei Stock Average rising 1.1%. China's Shanghai Composite edged up less than 0.1%.

On the JSE, Anglo American (AGL) declined R1.08 to R344.76, but BHP Billiton (BIL) inched up 25 cents to R264.25 and Sasol (SOL) lost R2.13 to R396.66.

In gold stocks, AngloGold Ashanti (ANG) was up R1.54 to R351.04, Gold Fields (GFI) gained R1.81 or 1.45% to R127 and Harmony (HAR) rallied R3.40 or 3.65% to R96.50. The world's fifth-largest gold miner posted record earnings in its second quarter of the financial year.

Anglo American Platinum (AMS) was up R1.41 to R559.50 but Lonmin (LON) shed 68 cents to R129.96.

Among other miners, ArcelorMittal SA (ACL) lost R1.77 or 2.55% to R67.60, but Exxaro Resources (EXX) gained R3.57 or 1.76% to R206.73.

In industrials, British American Tobacco (BTI) was up R3.28 to R367.59, while Bidvest (BVT) was down R2.55 or 1.48% to R169.85.

Among banking stocks, Standard Bank (SBK) gave up R1.48 or 1.35% to R108.02, Nedbank (NED) was down R1.85 or 1.16% to R157.15, Absa Group (ASA) shed R1.60 or 1.07% to R147.90 and FirstRand (FSR) lost 45 cents or 1.94% to R22.75. But African Bank Investments (ABL) was up 16 cents to R38.10.

MTN Group (MTN) was down R4.04 or 2.97% to R131.95, while Telkom (TKG) gave up 55 cents or 1.85% to R29.14. In the same sector Vodacom (VOD)was also lower, dropping R1.50 or 1.47% to R100.70. - I-Net Bridge