JSE in the red on mixed data

Comment on this story
IOL image JSE interior view INDEPENDENT MEDIA The JSE is seen in this file photo: Leon Nicholas.

The JSE was in the red at noon on Monday as mixed global data added pressure to local markets.

“The JSE is down on the back of both positive and negative data from the US and China. Germany cut its interest rates‚ and‚ being the biggest economy in Europe‚ this highlighted that economic conditions in the EU and the rest of the world were still under pressure‚” Vunani Private Clients global market analyst Kuziva Muganiwa said.

At 12.00pm‚ the all share index was down 0.20% to 38‚117.74 points‚ with the banking index shedding 0.75% and the platinum index adding 0.87%.

“China also reported a rise in inflation and this‚ coupled with other economic news and data‚ is creating negative sentiment; this is bad for South African markets. Appetite for emerging markets is at a low‚” he said.

On the JSE‚ ArcelorMittal SA (ACL) added 2.63% to R29.65 and Impala Platinum (IMP) gained 1.47% to R153.29.

Standard Bank (SBK) shed 1% to R106.97 and RMB Holdings (RMH) lost 1.29% to R40.40.

Truworths (TRU) gave up 1.43% to R101.65‚ Woolworths (WHL) lost 1.21% to R71.92 and Mr Price (MPC) was 2.13% lower at R138.74.

Telkom (TKG) gained 1.38% to R15.45‚ while Vodacom shed 1.02% to R117.28. - I-Net Bridge

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines