The JSE Securities Exchange South Africa (JSE) was lower by Friday due to the firmer rand against the dollar.
By 12.10pm, the all-share index was down 0,39%. The resources index retreated 0,74%, the platinum mining index ticked down 0,86%, but the gold mining index added 0,15%. Financials fell 0,49%, the banks index was down 1,17% and the all-share industrial index 0,11% lower.
The rand was quoted at R6,49 per dollar, from R6,61 when the JSE closed on Thursday, while gold was quoted at $399,50 an ounce, up from $397,90/oz at the JSE’s last close.
“The JSE is a tad lower today, due to the firmer rand. Right now global equity markets are in a lull due to a lack of news flow,” a Johannesburg broker said.
London-listed mining and resources group Anglo American lost 1,6% or R2,50 to R151,50 and resources rival BHP Billiton slumped 0,2% or 10 cents to R57,80.
Financial services group Old Mutual lost three cents or 0,2% to R12,40.
Gold stocks came under pressure early on with AngloGold losing 90 cents or 0,4% to last trade at R240, Gold Fields fell 0,1% or 10 cents to R79,30 and Harmony added 0,4% or 35 cents to R83,90.
Banking group FirstRand lost 14 cents to R9,86 and Nedcor added six cents to R60,40.
After initially starting lower, Swiss-listed luxury goods group Richemont recovered to be last quoted unchanged at R17,65 and media group Naspers gained 229 cents to R49,20.
London-listed IT group Dimension Data declined five cents to R4,44.
The world’s largest platinum miner AngloPlat lost two rand to R268, while Impala Platinum was R4,50 lower at R508.
South Africa’s second-largest insurer, Sanlam, reached a fresh 28-month high of R9,99 in morning trade on Friday, and looks set to move above the key R10 level soon on the back of optimism surrounding the group’s ongoing turnaround in the coming months.
The last time the counter traded at more than R10 was very briefly in January 2002.
Sanlam shares were last quoted at R9,98 up 1 cent or 0,1% from R9,97 at Thursday’s close, with 2,739-million shares having changed hands in 153 transactions. — I-Net Bridge