The JSE gave up just over a percent at noon on Monday as markets pegged back last week's gains.

By 12pm, the JSE all share index had shed 1.29 percent, with resources easing 1.77 percent and platinum counters giving up 0.93 percent, but gold miners were up 1.41 percent.

Banks were flat, adding 0.01 percent, while financials lost 0.49 percent and industrials declined 1.13 percent.

The rand was last bid at 8.34 to the dollar from 8.41 when the JSE closed on Friday. Gold was quoted at $912.85/oz a troy ounce from $908.03/oz at the JSE's last close, and platinum was at $1134.50/oz, from $1145.50 at its previous close.

A local trader said: "We started off flat this morning as we appear to be coming off earlier highs. Volumes traded today are showing a relatively quiet period.

"Last week we saw strong resources trade, particularly mining. That has been pegged back slightly, which isn't a big surprise. Gold prices, however, are higher today," the trader said.

Dow Jones Newswires reports US stocks are expected to open significantly lower, says David Morrison at GFT. Calls DJIA down 100 points at 8474.7 and S&P 500 down 12.2 points at 917.0. "In the aftermath of 1Q earnings, bank stress tests and Friday's non-farm payrolls, investors are now pausing for breath." There are no significant macro data on Monday. In earnings news, Ambac Financial and King Pharmaceuticals will report. Dow front month futures contract trades 1.1 percent lower at 8420.0 and the S&P 500 front-month futures contract trades down 1.4 percent at 912.1.

I-Net Bridge