Share

Mining shares lead JSE sharply lower

Johannesburg - The JSE ended sharply lower on Monday, with mining shares taking the most points off the main indices as commodity prices tumbled and Anglo American Platinum [JSE:AMS] (Amplats) issued a profit warning.

Amplats shares slumped 3.36% to R359.99 after the firm said annual profit likely fell by at least 20% due to this year's five-month strike.

Falling commodity prices, following weak economic data from China, added to the pressure on Amplats' shares and also hit stocks in rivals such as Impala Platinum [JSE:IMP] and Lonmin [JSE:LON], which fell between 1% and 2%.

"The Chinese with very average numbers this morning - HSBC PMI barely above growth territory - have seen a broader commodities complex slide," Sasha Naryshkine, an analyst at Vestact, said in a note.

The benchmark JSE Top-40 index was down 2.19% to 43 236 and the broader All-share index dropped 2.11% to 48 858.

Trade was robust, with 250 million shares changing hands, compared with last year's daily average of 176 million shares.

Other decliners were mobile phone group MTN Group [JSE:MTN], down 4.38% to R208.62 as the Nigerian naira, the currency of its biggest market, slid to a record low on the back falling oil prices.

Also taking a hit from oil prices, Sasol [JSE:SOL] plunged 6.81% to R430.50. Sasol makes fuel from coal and gas but sells at it at the same price as the companies that refine imported crude oil.

Among the gainers, Winhold Ltd [JSE:] surged 11.9% to 47 cents after the investment holding firm said full-year profit rose by nearly a third.

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
19.02
+1.0%
Rand - Pound
23.80
+0.6%
Rand - Euro
20.40
+0.8%
Rand - Aus dollar
12.41
+0.6%
Rand - Yen
0.12
+1.2%
Platinum
917.50
+0.6%
Palladium
1,010.00
+0.5%
Gold
2,326.33
+0.5%
Silver
27.41
+0.9%
Brent Crude
88.02
-0.5%
Top 40
68,608
+0.1%
All Share
74,559
+0.1%
Resource 10
61,731
+2.1%
Industrial 25
103,099
-0.9%
Financial 15
15,853
+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