The JSE fell to a one-week closing low on Monday‚ led by global economic growth-sensitive mining shares‚ amid negative global sentiment.
At 17:00 local time‚ the JSE all-share index was down 0.87 percent to 33‚821.98 points‚ the lowest level since June 14.
Resources lost 1.24 percent‚ gold shares slipped 0.16 percent and platinum counters were 2.76 percent in the red.
Financials gave up 0.86 percent‚ banking stocks lost 1.48 percent and industrials eased 0.39 percent.
The rand was weaker at 8.49 to the US dollar‚ from 8.42 at the JSE’s close on Friday‚ while gold was quoted at US$1‚571.72 a troy ounce from US$1‚563.75/oz at the JSE’s previous close and platinum was at $1‚431.20/oz‚ from $1‚432.50/oz previously.
“The downward revision of the US corporate earnings data in the second quarter is fuelling investor anxiety about global growth prospects‚” said Kevin Algeo‚ market analyst at Imara SP Reid.
Spain's request for bailout funds and an impending European Union (EU) summit this week pressured both European and US stocks as investors continued to worry about the future of the monetary union‚ Dow Jones Newswires reported.
Investors took a skeptical view of a Spanish request for EU aid to bail out its banks.
The country made its formal request for bank aid‚ but mentioned no specific sum outside of the previously stated maximum of US$125 billion.
Equity markets are bracing for an EU summit‚ which takes place on Thursday and Friday.
Various issues are on the agenda such as a potential renegotiation of Greece's bailout terms‚ and proposals to create a fiscal and banking union. Some form of growth stimulus is also expected to be announced.
On the JSE‚ Anglo American (AGL) was down R3.86‚ or 1.43 percent‚ to R266.50‚ BHP Billiton (BIL) lost R2.76‚ or 1.19 percent‚ to R228.60 and Sasol (SOL) dropped R2.85 to R350.15.
AngloGold Ashanti (ANG) eked out R1.32 to R288.21 but Gold Fields (GFI) was off 97 cents to R105.96 and Harmony Gold Mining (HAR) slipped 49 cents to R79.94.
In platinum stocks‚ Impala Platinum (IMP) gave up R5.40‚ or 3.84 percent‚ to R135.10 and Lonmin (LON) shed R2.30‚ or 2.36 percent‚ to R95.30.F
Among other miners‚ ArcelorMittal SA (ACL) lost R1.34‚ or 2.48 percent‚ to R52.66 and African Rainbow Minerals (ARI) slid R5.23‚ or 3.07 percent‚ to R165.05.
In industrials‚ Bidvest (BVT) was down R2.65‚ or 1.45 percent‚ to R180.35 and Richemont (CFR) shed 46 cents‚ or 1 percent‚ to R45.52.
Among the banks‚ Standard Bank (SBK) dropped R3.16‚ or 2.67 percent‚ to R115‚ Abil (ABL) slid R1.12‚ or 2.93 percent‚ to R37.15.
Among construction shares‚ Murray & Roberts (MUR) was off 79 cents‚ or 3.05 percent‚ to R25.11 and PPC (PPC) dipped 61 cents‚ or 2.23 percent‚ to R26.79.
Naspers (NPN) gave up R10.26‚ or 2.22 percent‚ to R451.50 but Avusa gained 25 cents‚ or 1.06 percent‚ to R23.75.