Johannesburg - The JSE headed south at the start on Friday, with a stronger rand, lower gold price and weaker world markets all taking their toll. Early volumes were fairly light, however.
By 09:20, the all share index shed 0.7%. Resources retreated 1.19%, the gold mining index tumbled 2.29% and the platinum mining index lost 0.92%. Industrials weakened 0.47%. Financials were flattish (-0.06%), but the banks index was 0.43% better.
The rand was bid at R6.90/US$ from R6.95 when the JSE closed on Thursday, while gold was quoted at US$624.08 a troy ounce from $642.11/oz at the JSE's last close.
"We have opened weaker. I guess we are following yesterday's pullback. The rand is a big play," a dealer said.
He added that the market was mainly resources driven. The gold price, which was down $20 was playing a role.
Weaker world markets were also weighing on the JSE.
