MINING stocks kept the South African bourse in negative territory at midsession on Tuesday, with analysts saying a break of key technical support in the index of top shares signalled more weakness ahead. The index of the 40 leading stocks lost 1.1% to 8 908 by 1048 GMT, after a break of key support at 8 980. This, along with a top formation in U.S. markets could trigger more profit taking, said a technical analyst at a Cape Town-based fund manager. The all-share index lost 88 points or 0.95% to 9 255 points, with resources off 1,24%, led lower by weaker metals prices. Market bellwether Anglo American shed 1,1% to R124,40 – hit by losses in its subsidiary mining firms and after a strong run on Monday. Anglo American Platinum lost two percent to R380 and peer Impala Platinum gave up one percent to R454. Miner Billiton extended early weakness to trade 3.7% down at R41.30 in a retracement from last week’s gains, dealers said. Outside the mining sector, IT services group Dimension Data slid 3.6% to 36.35 as weaker Nasdaq futures pointed to more tech losses ahead. Technically, analysts said a break of R37 support indicated that Didata was moving back into a phase of price consolidation. – Reuters
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