Wednesday, February 28, 2007

S.Africa's Top 40 index opens over 2 pct down

South Africa's blue chip Top-40 index opened over 2 percent lower on Wednesday, after the Dow Jones industrial average slid over 3 percent on Tuesday.

At 0728 GMT, the top 40 index had slipped 2.18 percent, while the JSE All Share index was 2.24 percent weaker.

"It is a continuation of what happened yesterday. We actually outperformed other emerging markets and we are actually just playing catch up," a Cape Town-based trader said.

South African blue chips fell over 3 percent on Tuesday, posting their biggest one-day decline in more than seven months on worries about growth in China and news the government could slap a windfall tax on miners.

Read more at Reuters South Africa

No comments: