Share

Miners keep JSE recovery in check

Johannesburg - The resource sector kept the JSE recovery in check on Monday‚ as global growth slowdown concerns continued to hurt commodity prices.

At 12:40‚ the JSE All Share [JSE:J203] index was up 0.35% to 38 633.38 points‚ after tumbling more than 3% last week‚ dragged down in the main by resource shares.

The blue-chip Top 40 - (Tradeable) [JSE:J200] index gained 0.33% to 34 032.45 points‚ underpinned by industrial and banking stocks‚ up 0.99% and 1.04% respectively. Resources lost 1.03%.

“A modest bounce is on the go after last week’s selloff. There is‚ however‚ no respite for the resources as commodity prices continue to be under pressure on global growth slowdown fears‚” said Ryan Wibberley‚ equity dealer at Investec Asset Management.

Leading European shares were modestly higher at noon‚ with London’s FTSE 100 gaining 0.23% while US stock futures pointed to a slightly higher open on Wall Street later in the day.

No major market moving economic releases are scheduled in the US on Monday.

On the JSE‚ BHP Billiton (BIL) was down 1.54% to R257.99 and Sasol (SOL) lost 1.24% to R389.98.

Northam Platinum (NHM) regained 3.06% to R36.05 after losing almost 7% on Friday.

Harmony Gold Mining (HAR) was down 2.22% to R54.94 and Assore (ASR) shed 2.98% to R276.55.

Luxury goods maker Richemont (CFR) lifted 1.40% to R70.29.

In banking stocks‚ Absa Group (ASA) was up 2.48% to 151.89 and RMB Holdings (RMH) gained 2.18% to R41.79 
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.90
-0.0%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.1%
Platinum
908.75
+1.3%
Palladium
1,014.28
+1.3%
Gold
2,221.04
+1.2%
Silver
24.86
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
+2.9%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders