Stocks ended in the red on Friday, weighed by a fall in US markets as market participants took profits ahead of the weekend.

By 5pm, the JSE all share index had shed 2.14 percent. Resources lost 2.70 percent, platinum miners gave up 6.63 percent and gold counters edged down 0.97 percent.

Banks weakened 2.92 percent, financials were 1.65 percent weaker and industrials were off 1.69 percent.

The rand was last bid at 9.60 to the dollar from 9.41 when the JSE closed on Thursday. Gold was quoted at $926.30/oz a troy ounce from $937.55/oz at the JSE's last close, and platinum was at $1136.50/oz from its previous close of $1141/oz.

"The GDP data in the UK came out worse than expected and that sparked a sell off in the markets. Also the Dow is weak and that is dragging us down," a trader said.

"Markets have had a good run up and everyone is taking money off the table - and taking profits.

"It's a Friday afternoon. Markets have had a good few weeks. Why buy on Friday afternoon, maybe Monday might be better," he said.

Dow Jones Newswires reports that the US stock market took back most of the previous session's big gains, underscoring traders' scepticism that a new bull market is under way.

But the consensus on Wall Street has been that the rally doesn't have staying power for the long term, considering that the global economy remains in a deep downturn that will take more time to resolve.

Such sentiment can become self-fulfilling, with investors who have seen big gains apt to sell and book profits quickly. With only a handful of trading days left before money managers send out quarterly statements to their clients, many traders believe that a round of so-called window dressing is drawing to an end.

"In order for us to believe that this is really a bull market, we would have to go back and successfully test the old low," around 6550 for the Dow, said Matthew Smith, vice president and portfolio manager at Smith Affiliated Capital in New York. "But we've repeatedly failed to do that every time before during this bear market, and there's no reason to believe we can do it this time."

At the time the JSE closed, the DJIA had fallen 1.44 percent.

Back in Johannesburg, Anglo American weakened 2.75 percent to 164.75 rand and BHP Billiton lost 2.51 percent to 193.28 rand.

Petrochemicals group Sasol gave up 2.39 percent to 286.50 rand.

Among gold miners, Gold Fields fell 3.09 percent to 108.20 rand, and Aflease Gold gained 2.50 percent to 1.64 rand. It earlier advised that it expected the headline loss per share for the year to end December 2008 to be between 38.22 percent and 58.22 percent less than that of the previous comparative period.

Platinum miner Anglo Platinum shed 3.48 percent to 498 rand, Impala Platinum lost 8.38 percent to 153 rand and Lonmin weakened 3.05 percent to 193.70 rand.

In diversified miners, African Rainbow was down 1.39 percent to 142 rand and Hulamin was off 1.82 percent to 10.80 rand.

Among industrials on the JSE, brewer SABMiller edged up 79 cents to 139.18 rand and Tiger Brands added 3.75 percent to 133 rand.

However, Barloworld lost 8.04 percent to 31 rand, Remgro weakened 4.62 percent to 69.58 rand, Bidvest gave up 2.76 percent to 88.49 rand and Imperial was off 2.78 percent to 52.50 rand.

Banking group Standard Bank weakened 3.82 percent to 78 rand, Nedbank lost 1.51 percent to 84.70 rand, Absa was down 3.16 percent to 93 rand and FirstRand was off 1.57 percent to 12.50 rand.

Sanlam gave up 1.48 percent to 16.65 rand and Investec fell 3.82 percent to 37.80 rand.

Sugar group Tongaat-Hulett was up 2.94 percent to 70 rand.

Media group Caxton added 4.35 percent to 12 rand but Naspers lost 2.52 percent to 155 rand.

Among retailers, Spar gave up 3.38 percent to 51.21 rand, Massmart lost 2.06 percent to 71 rand and JD Group was down 2.90 percent to 33.50 rand.

Construction group Aveng shed 4.48 percent to 26.65 rand, Group Five gave up 1.60 percent to 28.24 rand and Murray & Roberts fell 1.18 percent to 41.13 rand.

Telecommunications group MTN Group shed 4.73 percent to 105.75 rand and Telkom weakened 1.50 percent to 105.89 rand.

MTN said earlier that subject to conditions, it is to implement the Newshelf acquisition.

In December 2008 MTN and the Government Employees Pension Fund, represented by the Public Investment Corporation, entered into a memorandum of understanding for the proposed acquisition of Newshelf 664 by MTN from the Alpine Trust (AT), the acquisition and settlement of the funding obligations outstanding to PIC in Newshelf from PIC and the specific repurchase by MTN of the MTN shares held by Newshelf.

MTN advised earlier that a due diligence investigation in respect of Newshelf has been finalised on behalf of MTN, the approval of the South African competition authorities for the acquisition has been secured and all agreements necessary to implement the proposed Newshelf acquisition were entered into on Thursday, 26 March.

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