* Top-40 down 0.35 pct to 30,338.56
* All-Share dips 0.3 pct to 34,375.51
By Enos Phosa and Tebogo Mahlaela
JOHANNESBURG, May 3 (Reuters) – South African share prices
eased from a record high in the previous session led by gold
mining stocks such as Harmony and investors will be
watching employment statistics out of the United States for
direction.
Africa’s largest producer, AngloGold Ashanti and
third-placed Gold Fields shed 2 percent each to 258.06
and 97.62 rand respectively, hit by a decline in the price of
gold.
Banking shares moved in the opposite direction after data
showing that jobless claims in the world’s biggest economy fell
last week boosted expectations that the U.S. non-farm payroll
report due out on Friday would beat expectations.
“Financials have fared well and looking at the poor
performance of gold, people are cutting off resources and going
more into financials,” said Nilan Morar, Global Trader’s head of
trading.
“A bit of nervousness creeping into the market in the
afternoon certainly in anticipation in case that number is poor
tomorrow,” he said, referring to the U.S. job announcement.
The Top-40 index fell 0.35 percent to 30,338.56 and
the All-Share scaled back from its record high hit in the
previous session, falling 0.31 percent to 34,375.51. It touched
a life high of 34,647.73 on Wednesday.
Continued…
