The JSE All Share index is trading 0.15% lower in morning trade in line with weaker European markets after it was announced late last night that the European Central Bank (ECB) will no longer accept Greek sovereign debt as collateral as of next week.
The resource index is leading todays decline having fallen 1.17% led by a more than 5% decline in Sasol which tracks the sharp fall in oil and is our chart of the day. The price of the share has started to pullback from overbought territory with gap support the next target considered between levels R420 and R430.
Should these levels not hold a retest of the recent lows becomes the next possible downside consideration.
The industrial index has added 0.13% while the financial index is up 0.1%.
In Company news Resilient Property Income Fund has declared a dividend of 185,62 cents per share for the interim period ended December 2014. This represents an increase of 16,3% compared to the comparable prior period.
The rand is trading at R11.39 to the dollar, R13.03 to the Euro and R17.34 to the British Pound.
In commodities Gold is trading at $1263/oz, Platinum at $1235.6/oz, and Brent Crude at $55.5/ Barrel.
In South Africa the Business confidence Index showed a slightly more upbeat reading of 89.3 in January 2015 vs the previous reading of 88.3.
In the UK, the Bank of England are schedule to announce if there will be any changes to lending rates and the asset purchase facillity @ 2pm. In the U.S. weekly unemployment claims and trade balance data is scheduled for 3:30pm.
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