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Johannesburg - Markets all over the world are currently in profit taking mode, with the JSE no exception.
After a small rally late on Tuesday afternoon, all the major indices on the JSE were again down on Wednesday morning although the losses were mostly marginal.
The profit taking started on Wall Street on Tuesday, with markets in Asia and the JSE following suit. A great deal of attention is currently on company results.
By midday on Wednesday the All-share index on the JSE was 0.37% lower at 52 935 and the Top 40-index lost 0.40% to 46 787. The biggest loser was the Resources index which traded 0.76% lower, while the Industrial index was 0.33% and the Financial index 0.28% lower.
Two big shares, Steinhoff [JSE:SHF] and MTN [JSE:MTN], captured most of the attention on Wednesday morning and were among the busiest in terms of volume and value. More than 1.13 million shares in MTN were sold for R239.4m while 2.71 million shares in Steinhoff changed hands for R178.6m.
MTN said in its annual results briefing that subscribers had increased by 7.5% to 223.4 million and revenue had also significantly jumped by 6.4%, to a shade over R146.156bn. Data revenue was the star for the group with a massive 33.2% increase, contributing R27bn to the group's earnings.
