Moving in line with weaker world markets, the JSE remained in the red in afternoon trade on Monday. The JSE said it was experiencing technical problems on Monday, resulting in the bourse’s main indices not being updating.
By 1.17pm, the rand was last bid at 10,08 to the dollar, from 9,99 when the JSE closed on Friday. Gold was quoted at $942,65/oz a troy ounce from $937,65/oz at the JSE’s last close, and platinum was at $1 066/oz from its previous close of $1 0059,50/oz.
“Futures are down, so the market is definitely down. We just don’t know by how much,” a Johannesburg-based trader said.
“The gold miners are battling. Everyone will continue to watch the spot bullion price for direction,” another trader said.
“Sasol is also taking a beating. The retailers are also coming under pressure. They have been up nicely in the last few sessions, so there is probably some profit-taking there.”
“It’s a quiet day today with the US being closed for a public holiday. No one really wants to buy aggressively without direction from the US,” he added.
Dow Jones Newswires reports that the FTSE 100 traded off its lows but remained in the red. Traders expect the session to remain directionless, particularly with US markets closed due to the President’s Day holiday.
“Volumes are light,” said one trader and a lack of news flow is likely to keep them so, he added.
The FTSE 100 was last down 0,70%.
On the JSE, resources giant Anglo American was down R1,96, or 1,06%, to R183,04 and BHP Billiton lost R2,57, or 1,41%, to R179,50.
Petrochemicals group Sasol shed R9,40, or 3,46%, to R262,60.
Paper group Sappi gave up R1,22, or 4,36%, to R26,78 and Mondi weakened R1,19, or 4,65%, to R24,41.
ArcelorMittal lost R1,23, or 1,54%, to R78,51, Kumba Iron Ore was down R3,99, or 2,38%, to R164,01 and Highveld Steel weakened 84 cents, or 1,43%, to R58.
Among gold miners, AngloGold Ashanti fell R4,52, or 1,52%, to R293,48, Gold Fields was down R1,97, or 1,76%, to R110,04 and Harmony weakened 92 cents to R117,09.
Platinum miner Impala was down R1,42, or 1,11%, to R127,08 but Lonmin gained R2,01, or 1,28%, to R159,01.
In diversified miners, African Rainbow was down R4, or 3,08%, to R126 and Exxaro gave up R1,85, or 2,62%, to R68,65.
Among industrials, brewer SABMiller was off R3,86 or 2,39%, to R157,39, Barloworld weakened 69 cents, or 1,84%, to R36,91, Remgro shed R1.32, or 1,74%, to R74,55 and Bidvest lost R1,40, or 1,47%, to R93,61 and Imperial was down R1,30, or 2,36%, to R53,90.
Among banks, Standard Bank shed R1,75, or 2,47%, to R69,05, Nedbank was down R3,06, or 3,48%, to R84,94 and FirstRand weakened 42 cents, or 2.94%, to R13,88.
Old Mutual gave up 14 cents, or 1,80%, to R7,62, Sanlam was down 55 cents, or 3,36%, to R15,81 rand and Investec lost R1,09, or 2,95%, to R35,91.
Liberty International weakened 75 cents, or 1,38%, to R53,75.
Sugar group Illovo gave up 35 cents, or 1.27%, to R27,15.
Media group Naspers was off R2,80, or 1,75%, to R157,50.
Retailer Truworths fell 44 cents, or 1,23%, to R35,26 rand, Pick n Pay lost 70 cents, or 2,4%, to R32, Steinhoff gave up 29 cents, or 2,36%, to R12,01 and Foschini weakened 68 cents, or 1,44%, to R46,57.
Construction group Group Five lost R1,15, or 3,87%, to R2,55. The group earlier reported a 58,6% rise in diluted headline earnings per share to R2,30 for the six months ended December 2008 from R1,45 a year ago. An interim dividend of 58 cents per share was declared, up from 45 cents the same time last year.