JSE snaps three-day winning streak

Oct 18 2012 19:57
I-Net Bridge
Johannesburg - The JSE slipped on Thursday‚ ending a three-day winning run‚ which lifted the all-share and top-40 indices to record highs.

At 5pm‚ the JSE All Share [JSE:J203] index was 0.60% weaker at 37 051.95 and the Top 40 - (Tradeable) [JSE:J200] index shed 0.65% to 32 820.97.

AngloGold Ashanti was the worst performer in the top-40 index - dropping more than 4%‚ dragging the gold index down with it - after Standard & Poor’s placed the gold producer on CreditWatch‚ due to the continued wildcat strikes in SA.

“It would appear that SA is not yet out of the woods in terms of strike resolutions in the mining space‚ which gave the markets cause to take gentle profits‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.

Shaun Murison‚ market analyst at IG‚ said the consensus miss on weekly jobless claims out of the US provided an excuse to take money off the table in a market which has been in a prolonged state of overbought conditions.

Leading European stock markets were marginally higher in late trade‚ with the UK’s FTSE 100 nudging up 0.08%‚ while the Dow Industrial Average was flat.

Among individuals counters on the JSE‚ AngloGold Ashanti was down 4.21% to R288‚ Gold Fields slid 2.75% to R103.57 and African Rainbow Minerals lost 3.51% to R171.09.

Richemont shed 2.70% to R56.21.

Banking group Standard Bank gave up 1.60% to R104.60‚ while rival Capitec bucked the downward trend‚ gaining 1% to R204.78.
jse  |  markets  |  stocks



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...

Savings Month

It's never too late to start saving. Visit our special issue and add your voice.

Money Clinic

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

Voting Booth

Have you experience a sudden depletion in data before?

Previous results · Suggest a vote