JSE down

The JSE was slightly weaker as markets await more economic data out of the world's largest economy.

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The JSE was slightly weaker at midday on Friday as markets await more economic data out of the world's largest economy. Growth data out of China, the world's second largest economy, earlier was disappointing.

At 12:00 local time, the JSE all-share index was down 0.10% at 33,784.58 points. Gold miners shed 0.28%, resources fell 0.26% and platinum miners slipped 0.17%.

Banks were unchanged from overnight levels, financials gave up 0.21% and industrials were also flat (0.06%).

The rand was trading at 7.91 to the US dollar, from 7.89 at the JSE's close on Thursday. Gold was quoted at US$1,671.97 a troy ounce from US$1,672.96/oz at the JSE's previous close, while platinum was at $1,592/oz, from $1,592/oz at the previous session.

A local trader said that the JSE was waiting for US CPI and consumer sentiment data later on Friday afternoon. Markets would have more direction after the data, he said.

European stocks were in the red and the euro slipped against the dollar after China's first-quarter growth slowed to its weakest pace in three years, while the woes of Spanish banks returned after data showed they are increasingly relying on the European Central Bank for funding, Dow Jones Newswires reported.

Chinese data showed gross domestic product growth slowing to 8.1% in the first quarter from 8.9% in the fourth, and below consensus expectations.

Investors are now hoping that both Chinese and US policy makers will embark on additional easing to kick start the flagging health of the world's two strongest economies.

At 11:45 local time, London's FTSE 100 index was down 0.5% at 5,679.37. Frankfurt's DAX was earlier 0.5% lower and Paris's CAC-40 fell 0.8%. The benchmark Stoxx 600 index was down 0.6%.

In Asia stocks markets pared some of their gains immediately after the release of China's growth figures but then bounced back a touch on hopes that an easing in China's policy is not far off. Indeed, many investors concluded that China's monetary easing is already underway, after much higher-than-expected March new loans data.

China's Shanghai Composite rose 0.4%, while Hong Kong's Hang Seng Index advanced 1.8%. Japan's Nikkei Stock Average rose 1.2% and Australia's S&P/ASX 200 advanced 1.0%.

On the JSE, Anglo American (AGL) was up 27 cents to R287.49, BHP Billiton (BIL) declined R1.18 to R240.05, while Sasol (SOL) shed R1.10 to R363.65.

Among gold stocks, Anglogold Ashanti (ANG) was 25 cents in the black at R267.97, but Gold Fields (GFI) dipped R1.01 to R101.99 and Harmony (HAR) gained eight cents to R81.58.

Amplats (AMS) was R2.03 weaker at R512.97, Lonmin (LON) fell R1.05 to R126.75, but Aquarius (AQP) gained 42 cents, or 2.46%, to R17.50.

Optimum coal (OPT) was 50 cents, or 1.35%, higher at R37.50.

Among industrials, British American Tobacco (BTI) gave up R3.46 to R394.25, and Tigerbrands (TBS) fell R1.85 to R269. Imperial (IPL), however, rose R1.62, or 1.01%, to R161.62.

Altron (ATN) fell 29 cents, or 1.17%, to R24.60.

MTN Group (MTN) was 45 cents better off at R131.48.

Retailers saw Mr Price (MPC) lift R1.45, or 1.49%, to R98.50, while Holdsport (HSP) gave up 50 cents, or 1.18%, to R42.

Illovo (ILV) was down 32 cents, or 1.25%, to R25.22. - I-Net Bridge

Source: http://www.iol.co.za/jse-down-1.1275661

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