JSE down on profit-taking

The JSE had given up its earlier firm stance by midday on Friday as investors started to take profits after having a good week.

By 11.58am, the all-share index had lost 0,93%, as the gold- and platinum-mining indices fell 1,91% and 1,68% respectively. Resources dipped 1,15% and industrials slumped 0,52%. Financials weakened 1,21% and banks pulled back 0,87%.

The rand was bid at 7,18 to the United States dollar from 7,12 when the JSE closed on Thursday, while gold was quoted at $706,45 a troy ounce from $707,97 at the JSE’s last close.

“We have been flat and quiet.
We have seen some buoyancy on the gold side, which helped our market along with the weakness in the rand. I think people are just taking profits after a good week,” said a local equities trader.

In the resources sector on the JSE, Anglo American lost R5, or 1,19%, to R415,50, BHP Billiton gave up R3,40, or 1,58%, to R212,40, but Sasol rose R3,99, or 1,34%, to R302.

Gold miner AngloGold Ashanti shed 95 cents to R317 and Goldfields gave up R3,60, or 2,99%, to R117, while Harmony shed R1,77, or 2,2%, to R78,48.

Among platinum stocks, Anglo Platinum gave up R32, or 3,12%, to R993 and Impala Platinum eased 200 cents to R214,50.

Business support services group Bidvest added R1,01 to R141,01, but brewer SAB Miller dipped R2,20, or 1,14%, to R190,80.

Among financial stocks, Investec pulled back R2,60, or 3,31%, to R76 and Investec retreated 4,43%, or R3,48, to R75.


Liberty International fell R4, or 2,47%, to R158 and Liberty Holdings was off R3,74, or 1,7%, to R216.—I-Net Bridge

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