THE JSE dipped below the 50,000-point mark for the first time in six weeks on Thursday, taking its lead from wobbly global markets. The all share index was off 1.13% to 49,572.40 points in early afternoon trade, its weakest level since July 8, and the blue-chip top 40 gave back 1.39%. The financial and industrial stocks led the downside, offsetting the spectacular relief rally in the resource complex as commodity prices rebounded. The relatively weaker dollar nudged the platinum price back above the $1,000 per ounce mark, while the gold price built on the recent rally to $1,138.09 in early afternoon trade. Banks lost 2.34% and the heavily weighted financial and industrial indices lost 2.13% and 1.71%, respectively. Gold and platinum miners both surged 12.1% and 10.03%, respectively, aided by the significantly weaker rand. Caleo Capital market analyst Lloyd Priestman said global markets were in for more volatility. "I think risks are currently weighted to the downside but at the same time monetary policy remains accommodating which will help limit any downside sell-off," Mr Priestman said. "We need to start seeing better second-half data out of the US and Europe before we will see positive sentiment return to the markets." Europe’s leading markets were weaker at midday after Asian markets ended sharply weaker. China’s Shanghai Composite dropped 3.42% and Hong Kong’s Hang Seng shaved off 1.77%. US stock futures pointed to a weaker session on Wall Street later in the afternoon. Among individual shares on the JSE, Anglo American was up 2.74% at R149.33, while Sasol retreated 3.59% to R385.45. Exxaro rallied 7.28% to R67.31. Internet and media company Naspers was off 2.31% to R1,636 and MTN gave up 3.35% to R188.03. AngloGold Ashanti soared 12.41% to R104.88 and Gold Fields rose 12.99% to R42.88. Platinum producer Lonmin surged 26.69% to R6.93 and Impala Platinum rallied 10.39% to R48.67. Standard Bank was off 2.98% to R145.80 and FirstRand gave up 2.44% to R50.83

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