The JSE was in the red by noon on Thursday, weighed by mining shares and weaker Dow futures amid profit taking, an equities trader said.

At 12.10pm the JSE all share index weakened 0.34 percent, with resources losing 0.92 percent. Platinum miners eased 0.29 percent and gold producers gave up 1.83 percent.

Banks were down 0.44 percent and financials declined 0.36 percent, but industrials collected 0.34 percent.

The rand was bid at 7.52 to the dollar, from 7.43 when the JSE closed on Wednesday. Gold was quoted at $1136.25 a troy ounce from $1147.45 at the JSE's last close, and platinum was at $1425.50/oz, from $1437/oz at its previous close.

"Yesterday we closed lower for the first time in a while. Dow futures are down and the East was also down earlier. Markets are tiring and it's not too unexpected," the trader said.

"The rand is weakening on the strong dollar, but it's not helping the mining shares because they have run up so much already. We are seeing some profit taking. Markets are a bit stretched and it's not too surprising that we are seeing money being taken off the table.

"There are some shares that are up, but the rest of the market is being led down by the mining shares," he said.

"We will watch the Dow for further direction. They also had a slightly negative close last night for the first time in a while. The futures are down at the moment and that might indicate that we might see profit taking and consolidation there as well," he added.

Dow Jones Newswire reported that the FTSE 100 stayed down following mixed UK economic data. UK retail sales are good with October retail sales up 0.4 percent month-on-month and September's figure revised upwards. Also, mortgage approvals also push higher in October. However James Knightley at ING Bank says the medium term outlook is not so good. Notes that government borrowing figures are substantially worse than expected. Says, "This will intensify the pressure to tackle the fiscal position, which will further harm the medium-term growth outlook for the economy." Elsewhere, US initial jobless claims are expected at 1.30pm GMT.

The FSTE 100 had last weakened 0.27 percent.

US stocks are called to open lower as investors pause to digest Wednesday's weaker housing data and the uptick in CPI, said David Morrison at GFT. He called the DJIA down 56 points and the S&P 500 down 8 points.

Already suffering from the effects of crushing unemployment and negative equity on their houses, US consumers now face increases in their living costs, said Morrison. As a result, "investors are nervous the Fed may have to reverse their thinking on the stimulus program," he added. Initial jobless claims are at 1.30pm GMT, while leading indicators and Philadelphia Fed are at 3pm GMT.