In partnership with
  • Inside Labour: Minimum wage

    It is the workers’ labour that creates wealth and generates profits, says Patrick Craven.

  • Economic miracles

    Creating new money and lending or spending it wisely is key, say Edward Ingram and Riekie Cloete.

  • Strategy that works

    There are six steps to successful strategy implementation. Ian Mann looks at a roadmap to achieve this.

All data is delayed
Loading...
See More

Miners and world markets weigh on JSE

Nov 13 2012 14:23
I-Net Bridge
Johannesburg - Mining shares led the JSE lower at noon‚ with stock-specific news flow adding to the bearish tone on world markets.

At 12:50‚ the JSE All Share [JSE:J203] index was 0.56% lower at 37 252.73 points‚ with the Top 40 - (Tradeable) [JSE:J200] index shedding 0.63% to 33 036.06 points. Resource and gold stocks shed 1.66% and 1.01% respectively.

“Markets had a batch of negative corporate news to deal with‚ including an update on Anglo American’s Minas-Rio project‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management. “There were pockets of relative strength including continued buying into Vodacom following its results.”

Leading European markets were in the red at noon‚ with London’s FTSE 100 giving up 0.83%.

On local front‚ Anglo American dropped 3.76% to R246‚ after the resources giant said it was conducting a detailed cost review on its Minas-Rio project in Brazil. The project was unlikely to be less than the US$8bn upper end of the current range of analysts´ expectations‚ it said.

Volatile Aquarius Platinum was down 4.75% to R5.42‚ ArcelorMittal SA fell 3.18% to R30.16‚ a multi-year low. Exxaro dropped 3.70% to R168.47.

On the upside‚ Vodacom gained 2.88% to R119.74‚ a record high‚ while rival MTN gained 0.59% to R169.40.
jse  |  markets  |  stocks

NEXT ON FIN24X

 
 
 

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
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

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

Voting Booth

What do you want Finance Minister Pravin Gordhan to address during his budget speech?

Previous results · Suggest a vote

Loading...