• The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

  • Losing the plot

    Parastatal leaders have lost focus of what they're supposed to do, says Nonkululeko Gobodo.

All data is delayed
See More

JSE at 3-week low as miners weigh

Feb 20 2013 13:45
I-Net Bridge
Johannesburg - The JSE slipped to a fresh three-week intraday low on Wednesday‚ dragged down mainly by a selloff in gold and resource shares.

At 12:19 the All Share [JSE:J203] index was down 0.71% to 40 444.06 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 0.79% and the gold and resource indices shedding 2.47% and 2.44% respectively.

Corporate earnings data dominated domestic sentiment‚ against international stock markets which were generally positive.

BHP Billiton (BIL) fell in excess of 4% after the global resources company posted a 43% decline in headline earnings in the six months to December while AngloGold Ashanti (ANG) dropped more than 2% after registering a drop in full year profit.

“The consolidation trend continues. Some areas of the market have run too far‚ too fast‚” said independent analyst Ian Cruickshanks.

The All Share index is flat for the month‚ after gaining more than 3% last month.

Leading European markets were generally higher‚ with UK’s FTSE 100 gaining 0.33% at 12:00.

Among individual shares on the local bourse‚ BHP Billiton dropped 3.96% to R297.25 and Anglo American (AGL) shed 1.47% to R270. AngloGold Ashanti (ANG) dropped 2.89% to R233.94 and newcomer Sibanye Gold (SGL) shed 6.25% to R12.75‚ which is below its listing price of R13.05.

WBHO (WBHO) was down 2.53% to R150.11 and Basil Read Holdings (BSR) gave up 1.83% to R10.70.

Shoprite regained some of its recent losses to climb 1.30% to R174.75.
markets; jse



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote