The JSE was down for the third straight day at noon on Thursday as the profit-taking that started on Tuesday continued. A weaker rand did little to support the local bourse.
At 11.58am, the all share index was down 0,61%. Resources retreated 1,48%, the
gold mining index tumbled 2,78% and the platinum mining index weakened 0,67%.
Industrials and financials eased 0,1% and 0,14% respectively, while the banks index dipped 0,05%.
The rand was bid at 6,50 per dollar from 6,46 when the JSE closed on Wednesday, while gold was quoted at $439,05 a troy ounce from $443/oz at the JSE’s last close.
A dealer said that the JSE’s weakness was just a continuation of Wednesday’s sell-off.
“We have seen such strength and so many new highs and lots of guys are just coming in and taking profits,” she said. “The rand is weaker, but it is not really supporting the market.”
On the resources index, Anglo American weakened R1,10 to R163,70 and BHP Billiton lost 1,35% or R1,29 to R94,20.
Petrochemicals group Sasol slumped 2,58% or R5,45 to R206.
AngloGold Ashanti slid 2,64% or R6,21 to R228,99, Gold Fields surrendered 3,28% or R2,46 to R72,50 and Harmony was 2,31% or R1,31 in the red at R55,49.
AngloPlat was off 1% or R3,25 to R320,25.
Industrials to decline included Swiss-listed luxury goods group Richemont, which gave up 24 cents to trade at R24,51.
London-listed brewer SABMiller was down 36 cents at R116,14 and pulp and paper producer Sappi shed 30 cents to R70.
Cellular network operator MTN Group weakened 15 cents to R48,15.
Furniture retailer JD Group dropped 1,76% or R1,30 to R72,70.
Financials to fall included London-listed Old Mutual, which was 13 cents lower at R15,47.
Liberty Group declined 1,39% or 90 cents to R64.
Standard Bank dipped 14 cents to R70,50 and Absa was 34 cents in the red at R91,65.
On the market’s upside, media group Naspers jumped 2,65% or R2,74 to R106.
Food group Tiger Brands firmed 50 cents to R128,50 and services group Bidvest was 40 cents better at R83.
Retailer Foschini bounced 2,09% or 90 cents to R44 and Edcon climbed 1,28% or 40 cents to R31,60.
Microlender ABIL advanced 2,11% or 45 cents to R21,75. – I-Net Bridge