Investors flee equities as GDP comes in lower than expected

The JSE was weaker at midday on Tuesday as investors assessed disappointing domestic data.

SA avoided a technical recession in the third quarter‚ growing a seasonally adjusted and annualised 0.7% over the period‚ Statistics SA data showed on Tuesday.

Economists had expected growth of 1% for the period.

At 12pm‚ the all share was down 0.64% to 51‚859.80 points and the blue-chip top 40 index fell 0.57%.

Platinums led the declines with the index falling 2.44%.

Gold and resources bucked the downward trend and were up 1.38% and 0.33%‚ respectively. Industrials were 0.82% lower while banks slid 0.57%.

In Europe‚ stock markets were struggling as ratings downgrades put pressure on some luxury-goods shares.

At noon (CAT) the FTSE 100 slumped 0.82%‚ the Paris CAC 40 tumbled 1.37% and the German DAX 30 slipped 0.89%.

Among individual shares on the JSE‚ Glencore climbed 4.19% to R19.65. South32 was down 4.24% to R11.97.

Impala Platinum gave back 3.23% to R31.41. Lonmin shed 3.45% to 28c.

Clicks Group was down 2.05% to R97.22.

Telkom took a 1.99% blow to R65.13.

Pioneer Foods plunged 7.84% to R166.81.

Tiso Blackstar sank 2.17% to R9.

Transaction Capital rose 2.45% to R10.46.

Omnia tumbled 8.96% to R126.50.