JSE stocks were slightly weaker at the close on Monday as uncertainty over the eurozone continued to knock sentiment.
The local bourse lost earlier gains on improved global sentiment after Spanish banks were promised a EUR100bn loan for recapitalisation.
“Markets generally pulled back after earlier gains. Everything remains volatile after attempts to recover on the Spanish banks’ loan news. Markets want further news on Europe. At the moment‚ the uncertainty is still there‚” a local trader said.
At 17:00 local time‚ the JSE all-share index was down 0.15 percent to 33‚616.57 points‚ with resources gaining 0.03 percent‚ platinum counters losing 0.69 percent and gold counters 1 percent higher.
Financials were down 0.52 percent‚ banking shed 1.76 percent‚ while industrials lost 0.11 percent.
The rand lost ground to 8.43 to the US dollar‚ from 8.31 at the JSE's close on Friday‚ while gold slid to US$1‚584.85 a troy ounce from US$1‚606.73/oz at the JSE's previous close and platinum was quoted at $1‚444.70/oz‚ from $1‚440.00/oz in the previous session.
Meanwhile‚ Dow Jones reported that US stocks erased their initial gains and edged into the red as investors took a critical look at Spain's weekend agreement to a bailout of up to $125 billion from the EU to assist its banks. The DJIA was down 30 points by the SA close after surging nearly 100 points early.
On the JSE‚ Anglo American (AGL) was down 14 cents to R270.83‚ BHP Billiton (BIL) gained R1.33 to R231.39 and Sasol (SOL) lost R5.16‚ or 1.43 percent to R356.69.
AngloGold Ashanti (ANG) was up R2.76 to R305.36‚ Gold Fields (GFI) gained R1.48‚ or 1.32 percent to R113.34 and Harmony (HAR) advanced 56 cents to R85.60.
Impala Platinum (IMP) was down 96 cents to R135.84‚ Lonmin (LON) lost R1.95‚ or 1.98 percent‚ to R96.44‚ and
In industrials‚ Barloworld (BAW) was down R2.64‚ or 3.23 percent‚ to R79.22 and AECI (AFE) was also down R1.01‚ or 1.27 percent‚ to R78.29.
Among telecoms shares‚ Vodacom (VOD) gained R1.02‚ or 1.05 percent to R98.21‚ while Telkom (TKG) lost R1.19‚ or 5.86 percent to R19.11.
In banks‚ Absa (ASA) lost R2.65‚ or 1.73 percent to R150.90‚ Firstrand (FSR) was down 41 cents‚ or 1.53 percent‚ to R26.43 and Standard Bank (SBK) lost 3.02 rand‚ or 2.60 percent‚ to 113.29 rand.
Elsewhere‚ retailer Massmart (MSM) added R2.15‚or 1.30 percent‚ to R167.71 ‚ while JD Group (JDG) was down R1.10‚ or 2.47 percent‚ to R43.40.