Company Data
| Last traded |
R29,189.72 |
| Change |
R115.53 |
| % Change |
0.40% |
| Cumulative volume |
0 |
| Market cap |
R0.00 |
| Last traded |
R132.90 |
| Change |
R-0.25 |
| % Change |
-0.19% |
| Cumulative volume |
1.64m |
| Market cap |
R250.51bn |
| Last traded |
R33,104.06 |
| Change |
R111.81 |
| % Change |
0.34% |
| Cumulative volume |
0 |
| Market cap |
R0.00 |
Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - South African stocks closed lower on Thursday for the first time in four days, with the
Top 40 - (Tradeable) [JSE:J200] index falling more than 1%, dragged down by blue-chip telecoms firm MTN and gold miners.
MTN Group [JSE:MTN] Africa’s biggest mobile operator, plunged 5.4% to R132.06 rand, extending losses to 8% this year, amid fears that US and European sanctions will hit the economy of Iran, one of its key non-African markets.
An announcement that it would spend $1bn in 2012 in Nigeria, its biggest market, and the licensing of a rival operator in Cameroon also dampened sentiment towards the stock, said Bruno van Eck, a trader at Thebe Stockbroking.
“It is one of the biggest stocks on the market, so it is obviously pushing the market into negative territory,” he said.
Valued at $32.5bn, MTN is the fourth-largest company on the Johannesburg Stock Exchange.
The bourse’s benchmark index edged 1.05% lower to 29 058.39, while the broader All Share[JSE:J203] index fell 0.91% to 32 599.06.
Spot gold’s fall from a high of $1 625.36 to as low as $1,596.24 on the day also made miners such as Harmony and Gold Fields less desirable.
“The gold price has slipped below $1600. So definitely we’ve seen some negativity coming in on metal prices. Platinum prices are stepping down and copper prices have taken a hit,” van Eck said.
The blue-chip index failed to break above the 29 400 level on Wednesday, the latest in several attempts at the psychologically important level since October.
Analysts expect it to make a short-term retreat to 29 000 with support at 28 500.