The JSE was in negative territory just before noon on Thursday, having followed world markets weaker. Gold shares were the sole bright spot buoyed by a higher bullion price. By 11.56am, the all share index dropped 1,9%. Industrials slid 1,71%,
financials fell 1,29% and the banks index weakened 1,66%.
Resources slumped 2,45% and the platinum mining index surrendered 0,67%, but the gold mining index gained 0,52%.
The rand was bid at 6,52 per dollar from 6,51 when the JSE closed on Wednesday, while gold was quoted at $465,95 a troy ounce from $463,87/oz at the JSE’s last close.
Trade was brisk — over R2,3-billion worth of shares had changed hands.
“World markets are all weaker and we are just following the trend,” a dealer said.
“The JSE has been at such highs that guys don’t mind selling. They are taking advantage of the opportunity and taking profits.”
She added that while the rand remained soft following its break above the 6,50 per dollar level on Wednesday, it was not helping the bourse as the potential positive impact of its weakness was being outweighed by negative factors.
Petrochemicals group Sasol led the JSE’s downside. Hit by the double whammy of a widespread market sell off and a lower oil price, its shares dived 5,26% or R12,85 to R231,65.
Global resources group BHP Billiton, which also has exposure to oil, plunged 3,07% or R3,04 to R95,85.
Anglo American was 1,8% or R3,31 lower at R180,70. AngloPlat lost 1,13% or R4 to R349.
Iron ore miner Kumba shed 2,47% or R2,40 to R94,60 and Mittal Steel was 3,64% or R2,05 softer at R54,20.
Swiss-listed luxury goods group Richemont retreated 2,67% or 69 cents to R25,16 and London-listed brewer SABMiller slipped 2,13% or R2,70 to R124,20.
Services group Bidvest gave up 2,54% or R2,33 to R89,36 and brand management group Barloworld was 1,74 or R2 weaker at R112,80.
MTN dropped 1,56% or 79 cents to R49,70 and Telkom shed 1,78% or R2,25 to R124,25.
Construction group Murray & Roberts was down 2,86% or 55 cents to R18,65 and Aveng slipped 2,01% or 34 cents to R16,61.
Retailers were under pressure, with Edcon sliding 2,94% or 91 cents to R29,99.
Foschini fell 1,83% or 85 cents to R45,50.
Shoprite was 1,81% or 30 cents softer at R16,30.
On the financial index, investment company Remgro retreated 1,28% or R1,40 to R107,80.
Specialist bank Investec lost 2,6% or R6,51 to R243,49.
Commercial bank FirstRand tumbled 2,14% or 35 cents to R16, Standard Bank was down 1,34% or 93 cents at R68,57 and Nedbank surrendered 1% or 90 cents to R89,50. Absa was 1,32% or R1,20 in the red at R90.
Life assurer Liberty Group was 1,79% or R1,13 lower at R61,87.
Gold miner Harmony led the JSE’s upside, climbing 1,26% or 85 cents to R68,35. Gold Fields gained 42 cents to R91,52 and AngloGold Ashanti added 85 cents to R269. – AFP