/ 25 May 2001

GOLD PULLS JSE TO LOWER OPENING

THE South African bourse started weaker on Friday pressured by gold stocks on a retreating bullion price, but IT shares provided support, dealers said. By 0730 GMT, the benchmark all share index had lost 0.43% or 40.2 points to 9,411.9, weighed by the world’s largest gold miner AngloGold and parent company Anglo American. AngloGold fell 3.47% or R11 to R306 and Gold Fields slipped 4.10% to R37.40 after gold retreated to $278.50 an ounce from $283.00 seen in late Thursday trade. It touched an intra-day high of $287.30 an ounce on Thursday. The gold index tumbled 3.92%. Anglo American extended Thursday’s losses, retreating 1.58% to R136.80 on weak metal prices. -Reuters