Johannesburg - Retail shares came under
selling pressure on Friday‚ with FTSE/JSE general retailers index
falling to its lowest level in three weeks‚ giving credence to
caution some analysts have made that the sector might be overheating
given the strong run it has had in the last while relative to other
areas of the stock market‚ such as resources.
Clothing retailers led the downside‚
with Trueworths [JSE:TRU] losing more than 5.5%‚ followed by The
Foschini Group [JSE:TFG]‚ down 4.32%‚ at 2.30pm local time. There
was no specific new flow on the sector on the day.
At 14:30‚ the index was down 3.52%‚
the lowest level since July 27.
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