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JSE in the red on mixed data

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.

The JSE is seen in this file photo: Leon Nicholas. Credit: INDEPENDENT MEDIA

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

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