Bourse slips as Omicron fears persist

The JSE was weaker on Tuesday morning, while its global peers were mixed as investors digested the potential effects of the Covid-19 Omicron variant on the global economy.

Vaccine manufacturers including Johnson & Johnson and Moderna said on Monday they were ready to adapt their vaccines to deal with Omicron, if needed, helping to soothe market concerns.

At 10.15am the all-share had lost 0.3% to 69,800.72 points and the top 40 0.3%.

Precious metals added 1.34%. Industrial metals lost 0.55%, industrials 0.45%, financials 0.44% and banks 0.13%.

At 9.46am the rand had weakened 0.14% to R16.15/$, 0.52% to R18.28/€ and 0.32% to R21.52/£. The euro was 0.31% firmer at $1.13.

Gold gained 0.53% to $1,794.45/oz and platinum 0.78% to $957.25. Brent crude had fallen 2.29% to $71.80 a barrel.