• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Miners keep JSE on back foot

Feb 15 2013 13:44 I-Net Bridge


Related Articles

Miners continue to weigh on JSE

Miners pull JSE to two-week low

JSE reverses losses‚ miners lead

Miners lift JSE

Miners lead JSE firmer

Mining companies leads JSE lower

 
Johannesburg - The JSE remained slightly weaker on Friday amid a selloff in gold and platinum shares‚ partly attributable to a pullback in the spot prices of the metals.

At 12:35 the All Share [JSE:J203] index was 0.09% lower at 40 694.96 points; the gold and platinum indices lost 1.89% and 2.18%‚ respectively.

The platinum spot price fell 0.91% to $1 692.50 per ounce‚ hurting platinum shares such as Impala Platinum (IMP‚ Implats) although losses in the counter were also flowing from its half-year results on Thursday.

“The platinum price is retreating from a high base after a strong run this year.” said Nick Kunze‚ a director at Terrassen Capital Management in Johannesburg.

Since the start of the year‚ the price of the metal has gained as much as 11% in dollar terms.

“When it comes to platinum shares‚ there is a strong debate as to where to put the money in light of challenges such as higher operating costs in the sector‚” Kunze said.

Gold price maintained its recent downward spiral‚ losing 0.36% to trade at $1 629.14 per ounce.

Global risk on Friday is focused on the US‚ with a string of data on the agenda‚ and the Group of 20 meeting in Russia‚ said RMB analysts in a note.

Elsewhere‚ major European stock market indices were mostly flat‚ while Dow futures pointed to a slightly weaker open on Wall Street later in the day.

Among individual shares on the JSE‚ Anglo American (AGL) was up 2.35% to R281.80 in what traders attributed to better than expected full year earnings.

Implats (IMP) was down 3.55% to R155.28.

Anglo Gold Ashanti (ANG) gave up 2.06% to R249.42‚ Gold Fields (GFI) lost 2.35% to R88.14 and Harmony (HAR) relinquished 3.36% to R62.09.

SABMiller (SAB) shed 1.51% to R434.98‚ while Discovery (DSY) gained 3.01% to R66.80.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

markets; jse

 
 
 

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
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

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

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...