The JSE. Photo: Simphiwe Mbokazi.

The JSE opened slightly in the red on Monday morning after closing flat on Friday and reaching an all-time high on Thursday.

Global markets are optimistic that finance ministers will agree on monetary issues with regards to Greece today and US fiscal cliff fears have eased after US politicians’ comments.

At 9.51am‚ the all share index was down 0.15% to 37‚809.72 points‚ while gold miners added 0.96% and industrials were 0.27% softer.

Asian markets were trading mixed with the Japanese Nikkei 225 closing 0.24% higher‚ while the Hong Kong Hang Seng Index was 0.24% softer at 9.36am local time.

“The US is the main focus on the international data front but there are also two potential market movers on the local data calendar - these being GDP for the third quarter of the year and trade numbers for October. Watch out for a particularly large trade deficit. All in all‚ it is a busy week with numerous risks‚ suggesting scope for USD/ZAR to breach either the 8.80 support or R9.00 resistance levels. Early trade suggests no pressure either way as yet‚” Rand Merchant Bank said in a note.

“This week is expected to be quite busy on the local data front. On balance‚ we expect a rate-bearish bias in the data due to upside risk in the GDP‚ pick-up in credit growth‚ re-acceleration in PPI inflation and wider trade deficit‚” RMB said.

Among individual counters on the JSE‚ Gold Fields (GFI) was 1.17% higher at R106.23 after reporting on Monday morning gold production of 811‚000 ounces in the quarter ended September compared with 862‚000 ounces in the June quarter. The group on Monday reported that it lost 35‚000 ounces in production due to the illegal strike action at KDC and Beatrix.

Harmony (HAR) added 1.44% to R71.92.

Among telecoms MTN Group (MTN) dipped 0.54% to R166.45 and Vodacom slipped 3.02% to R117.36.

Redefine (RIN) slumped 4.26% to R5.40‚ trading ex-dividend.

Redefine Properties (RDF) has reached agreement with Sanlam Life Insurance to acquire the East Rand Mall for R2.23 billion‚ while Vukile Property Fund (VKE) said in a cautionary notice on Friday that it will buy a 50% undivided share in the East Rand Mall in Boksburg from Redefine Properties for R1.115bn in cash on or about April 1 2013. - I-Net Bridge