SA futures close lower on global risk aversion

South African futures were down more than 1% on Friday, as world markets fretted over Greece yet again. Global risk aversion was the order of the day, with the JSE, European and the US markets all in negative territory.

The local near-dated Alsi contract lost 344 points, or 1.1% to 30,285.

The rand was at 7.74 from R7.58 against the US dollar on Thursday, while gold was quoted at US$1,719.29 a troy ounce from US$1,745.88/oz before.

The total number of contracts that exchanged hands was 39,616 from 32,278 on Thursday.

Dow Jones Newswires reports that US stocks fell as concerns over whether Greece will be able to receive bailout funds prompted a pullback following the recent string of gains.

At the opening of the market Friday, the Dow Jones Industrial Average shed 115 points, or 0.9%, to 12,778. The Standard & Poor's 500-stock index lost 13 points, or 1%, to 1339 and the Nasdaq Composite lost 27 points, or 1%, to 2900.

European markets were broadly lower, with the Stoxx Europe 600 down 0.9%. Euro-zone finance ministers didn't approve a second bailout that Greece needs to stay afloat, saying Greece's parliament must first approve the new austerity measures before they will sign off on the loan deal.

The Dow was last off around 130 points.