The JSE Securities Exchange South Africa (JSE) ended a seven-day winning streak on Wednesday, closing marginally weaker after an abridged Christmas Eve trading day. With a large number of players away, volumes were exceptionally light.
When the bourse closed at noon, the all-share index was a marginal 0,13% in the red. The all-share industrial index was down 0,55%.
Financials and banks fell 0,18% and 0,48% respectively. The gold mining index gave up 0,81%, the platinum mining index dipped 0,22%, but the resources index was 0,22% stronger.
The rand was trading at R6,81 to the dollar from R6,88 when the JSE closed on Tuesday, while gold was quoted at $410,95 an ounce from $409,68/oz at the JSE’s last close.
“Turnover is dramatically slow. Everyone is on holiday and the volume that is coming through is from a trading perspective and not a driver perspective,” a dealer said, explaining that a number of programme trades had gone through the market.
He continued that steel giant Iscor, diversified resources group Anglo American and financial services group Old Mutual had dominated activity.
Iscor touched a year-high of R27,70 before closing 25 cents in the black at R27,50.
Iscor confirmed on Wednesday that LNM Holdings NV — a member of the LNM Group, the world’s second largest steel producer — had increased its Iscor shareholding to 49,9% from 47,23%.
Anglo dipped 21 cents to R145,39 and Old Mutual was a neither-here-nor-there two cents weaker at R11,18.
Diversified miner BHP Billiton led the market’s upside and was 2,21% or R1,25 better at R57,80.
It was followed by Gold Fields, which gained 50 cents to R91 and AngloPlat, which was up two rand at R292.
Microlender ABL advanced 3,68% or 33 cents to R9,30.
On the downside, Swiss-listed luxury goods group Richemont retreated 2,07% or 33 cents to R15,62.
AngloGold slipped 3,55% or R10,85 to R295,04 and Standard Bank shed 1,29% or 51 cents to R38,89.
Brand management group Barloworld was 2,14% or R1,50 weaker at R68,50.
Impala Platinum eased five rand to R570.
On the all-share index, 50 shares were up, 59 were unchanged and 54 were down. There were 15 advancers on the Top 40 index, 20 decliners, while six shares were unchanged. — I-Net Bridge