The JSE Securities Exchange South Africa (JSE) was almost 1% in the red at midday on Monday, despite a weaker rand. Dealers said the market was experiencing some weakness with the gold price retreating below the $400 an ounce level, and that it was a pity that the market had not been able to capitalise on the slightly weaker currency.

The JSE Securities Exchange South Africa (JSE) retained its softer tone at midday on Tuesday, with a firmer currency taking its toll on heavyweight rand hedge stocks. The main features in the morning session were telecommunications stocks, which continued the strength seen during Monday’s session.