• Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

All data is delayed
Loading...
See More

Miners push JSE to nearly two-week low

Feb 18 2013 13:40
I-Net Bridge
Johannesburg - The JSE slipped to a 12-day intraday low on Monday‚ wiping off the month’s gains as a selloff in the general resources sector looked set to continue for the third straight session.

At 12:24‚ the All Share [JSE:J203] index was down 0.60% to 40 437.04 points‚ with the Top 40 - (Tradeable) [JSE:J200] index losing 0.63% to 36 013.85. The gold and platinum indices lost 1.51% and 1.20%‚ respectively‚ still under pressure from last week after the spot prices of both precious metals dropped more than 2%. Resources were down 1.08%.

“The JSE appears to be continuing consolidation‚ which began last week. Despite strong foreign participation in equity markets last week‚ the market appears to have moved into extended territory and hence the correction over the last week is a moderation within the current bull trend‚” said Mohammed Nalla‚ head of strategic research at Nedbank Capital.

Leading European shares were tentative at noon‚ with London’s FTSE 100 slipping 0.09%.

Among individual stocks on the local exchange‚ Anglo American (AGL) was down 1.19% to R277.17 and Impala Platinum (IMP) lost 1.75% to R148.35.

Gold Fields (GFI) dropped 2.33% to R83.40 and new comer Sibanye Gold (SGL) gave up 4.01% to R15.55‚ after surging 19% last week following its listing.

Standard Bank (SBK) was down 1.38% to R116.57 and African Bank Holdings (ABL) lost 2.65% to R30.09.

Murray & Roberts (MUR) bucked the trend‚ gaining 2.08% to R25.03

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

markets; jse

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

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

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

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...