The JSE was lower at noon on Wednesday, tracking global markets and continuing to digest Tuesday's downbeat economic data in the US.
By 12.02pm local time the JSE all share index had lost 0.52 percent, with banks down 1.28 percent, financials declining 0.89 percent, and industrials falling 0.23 percent. Resources were 0.56 percent weaker, while platinum counters rose 0.27 percent and gold shares rallied 1.02 percent.
The rand was bid at R7.30/$ from R7.26/$ at the JSE's close on Tuesday. Gold was quoted at $1 195.15/oz from $1 187.15/oz at the JSE's previous close, while platinum was at $1 588.00/oz from $1 591.00/oz before.
A trader said the local market weakened on the back of faltering global markets, especially US futures and European shares.
He said local bank counters continued to slide.
Generally, share prices were fully priced, suggesting that they were prone to profit-taking and selling pressure, the trader said.
Velele Nkosi, trader at Legae Securities, said the local market was softer as it was still reacting to negative US economic data released on Tuesday - factory orders and home sales - reigniting fears of a sluggish US economy.
Dow Jones Newswires reported that Asian shares were mixed. The yen's rise to a fresh eight-month high against the US dollar hurt Japanese exporters' stocks, while overall confidence in markets was dented by renewed worries about the pace of the US economic recovery.
Japan's Nikkei Stock Average closed 2.11 percent weaker, while Hong Kong's Hang Seng Index ended 0.43 percent stronger.
European stocks were weaker as confidence in the global economic recovery was dented and US earnings have started to disappoint. The FTSE 100 was last 1.14 percent lower.
On the JSE, Anglo American Plc lost R3.75 or 1.25 percent to R297.25, and BHP Billiton fell R2.99 or 1.28 percent to R231.45. But Sasol gained 30c to R290.30.
Petrochemicals giant Sasol said on Wednesday that headline earnings per share (HEPS) for the year ended June 2010 are expected to increase by 0 percent to 8 percent, and earnings per share (EPS) are expected to increase by 12 percent to 20 percent compared to the previous financial year.
Sasol noted an overall improvement in market conditions, higher production volumes and cost containment have benefited earnings for the year.
Anglo Platinum slid R4.20 to R723.65, and Northam Platinum lost 17c to R44.16. Impala Platinum rose R1.26 to R201.07.
Gold miner AngloGold Ashanti gained R2.81 to R303.79 and Goldfields added 63c to R102.40. Harmony Gold edged up R1.08 to R77.08.
Diversified miner Exxaro slumped R1.95 or 1.63 percent to R117.70. ArcelorMittal lost 83c to R85.07.
Among industrials, Remgro rose 28c to R101.65, while Nampak plummeted R1.55 or 8.05% to R17.70. Remgro plans to sell its skate in Nampak.
SABMiller added R1.05 to R224.35 and British American Tobacco gained R2.10 to R258.99.
Richemont edged up 43c or 1.51 percent to R28.93, but Barloworld fell 53c or 1.21 percent to R43.17 and AVI shed 29c or 1.16 percent to R24.71.
Mobile operator MTN lost 31c to R117.99 and telecoms group Telkom declined 37c or 1.04 percent to R35.05.
In the banking sector, Standard Bank slid R1.90 or 1.71 percent to R109.10 and Nedbank fell 54c to R130.16.
Absa declined 70c to R133.80 and FirstRand edged down 20c to R19.72.
African Bank Investments Limited shed 34c or 1.02 percent to R32.86. It said its sales for the June quarter increased by 29 percent, resulting in sales growth of 6 percent for the nine months ended June 2010.
Issuing a trading update, the group said the quarter was characterised by comparatively stable trading conditions, with a stronger sales trend evident and a relatively unchanged overall risk profile.
Retailer Shoprite slid R1.40 or 1.55 percent to R45.65, JD Group fell 85c or 1.88 percent to R44.26 and Lewis shed 73c or 1.19 percent to R60.85.
South Ocean Holdings slumped 8c or 4.04 percent to R1.90.
The company reported headline earnings per share of 15.9c for the six months ended June 2010 from 8.5c a year ago. Revenue was 21.1 percent higher at R549.7 million, while operating profit grew 105.2 percent to R41.7 million. Profit for the period was up 245.6 percent to R25.1 million.
Media giant Naspers gave up R7.22 or 2.30 percent to R307.00. - I-Net Bridge
