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JSE ends lower

Dec 19 2011 18:14 Reuters

Company Data

Top 40 [JSE : J200]

Last traded R29,189.72
Change R115.53
% Change 0.40%
Cumulative volume 0
Market cap R0.00

Last Updated: 28/05/2012 at 17:43. Prices are delayed by 15 minutes. Source: McGregor BFA

 

All Share [JSE : J203]

Last traded R33,104.06
Change R111.81
% Change 0.34%
Cumulative volume 0
Market cap R0.00

Last Updated: 28/05/2012 at 17:43. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - South African stocks ended a muted session slightly lower on Monday, putting the benchmark index on course for its first yearly fall in two years, as worries about regional stability in Asia weighed after the death of North Korean leader Kim Jong-il.

Steinhoff topped the losers’ list on the JSE Top 40 - (Tradeable) [JSE:J200] index after the furniture retailer said on Thursday it would pay $190 million for a stake in domestic investment firm PSG Group.

South African markets were closed on Friday for a public holiday.

The benchmark Top-40 index lost 1.03% to 28 261.83, bringing this year’s losses to 0.29%. The broader All Share [JSE:J203] index lost 0.89% to 31 721.37.

“The death of the North Korean leader has dampened the sentiment somewhat,” Betzy Yang, a trader at Legae Securities, said. “We will see some volatility in the coming days as fund managers rebalance their portfolios.”

Ratings agency Fitch warned on Friday it might downgrade France and six other euro zone countries as it believed a comprehensive solution to the region’s debt crisis was “technically and politically beyond reach”, making investors even more cautious.

On the bourse, Steinhoff dropped 2.89 percent to 22.89 rand, falling to its lowest level in nearly two months and making it the biggest percentage loser on the JSE Top-40 index.

Investment group PSG Group, in which Steinhoff wants to buy a 20 percent stake, inched down 0.77 percent to 46.35 rand.
Kagiso Media fell 5.29 percent to 17 rand after the radio stations owner said it would pay 300 million to buy unlisted Juta and Company, South Africa’s oldest publishing house.

AngloGold Ashanti slid 1.9 percent to 348 rand after brokerage house Goldman Sachs cuts it rating on South Africa’s top gold miner to “sell” from “neutral”, citing valuation concerns after the stock’s recent strong run.

Among gainers, Tiger Brands added 3.02 percent to 244.85 rand after the consumer foods maker said it has bought the remaining shares in unlisted fruit canner Langeberg and Ashton Foods.

Trade volume was thin, with preliminary data showing 159 million shares changing hands, well below the 200-day moving average of 251 million shares.

Decliners outnumbered advancers 162 to 112, while 66 shares were unchanged.

 
 
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