adminpercent in the red, as were financials at 0,34 percent, and industrials edged down 0,23 percent.
The rand was weaker at R7,84 to the dollar from R7,77 at the JSE’s close on Friday.
Gold was quoted at US$1730,19 a troy ounce from US$1727,61/oz at the JSE’s previous close, while platinum was at US$1604,50/oz, from US$1615/oz before.
“Investors will also be watching with keen interest the European Union summit that kicks off today, which is expected put final touches on Europe’s bailout fund,” said Viv Govender, market analyst at Vunani Private Clients.
Dow Jones Newswires reported that Asian stocks traded modestly weaker yesterday, with market focus on Europe ahead of an European summit in Brussels later in the day, while Chinese shares suffered from disappointment over a lack policy easing from Beijing.
“Given the weakness we are seeing in Asian (equities) trade, US and European markets are pointing towards a softer open,” noted IG Markets.
European stock markets were also anticipated to open lower, with investors opting for caution before the start of the same summit.
EU leaders are expected to finalise details of a fiscal pact aimed at reining in budget deficits, and to endorse a permanent bailout fund with a lending capacity of €500 billion.
The summit comes as Greece inches towards striking an agreement with private creditors to erase €100 billion of its debt and implementing a new recovery plan put forward by the International Monetary Fund and the EU.
The EU and the IMF are demanding commitment, to the extent of asking for it in writing as a precondition for a second €130 billion rescue package. — BusinessDay.
Online Reporter