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JSE slips in line with global stocks

The JSE slipped on Monday‚ taking its lead from world markets‚ following strong gains last week.

At 12.38pm‚ the all share index was down 0.32% to 37‚744.59 points after rallying nearly 3% last week and top 40 index lost 0.39% to 33‚504.09 points. But gold shares bucked the trend‚ gaining 1.11%.

The JSE. Photo: Simphiwe Mbokazi. Credit: Independent Newspapers

“It is a pullback after a very solid week across leading global bourses. Volumes traded are well below average due to a number of international event risks‚ including the resumption of talks on the US fiscal cliff‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.

Leading European stocks were weaker at noon‚ with UK’s FTSE 100 losing 0.45%.

Among individual counters on the JSE‚ Aquarius Platinum (AQP) was down 5.52% to R5.99‚ Gold Fields (GFI) rallied 2.62% to R107.75 and ArcelorMittal SA (ACL) recovered 2.33% to R30.70.

Vodacom (VOD) lost 1.76% to R118.88.

In construction‚ Group Five (GRF) gained 2.04% to R25‚ while Basil Read Holdings gave up 1.68% to R9.34. - I-Net Bridge

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