Johannesburg - The JSE [JSE:JSE]
the red in midday trade on Friday‚ due to weaker platinum miners
“The deaths at Lonmin [JSE:LON]
dominated global business news. The stock started the day over 5%
lower but has since regained much of these losses. That said it is
still over 10% lower than the it was at 2pm yesterday before news of
the deaths broke. Amplats and Implats are trading lower. We have also
seen the price of platinum spike‚” said Viv Govender‚ market
watcher at Vunani Private Clients.
At 12:11, the JSE All Share Index [JSE:J203] was
0.42% down at 35 592.19 points. Platinum miners lost 0.69% and banks
gave up 0.67%. Gold miners was the only index to show gains with a
Lonmin‚ having dropped over 6% in
opening trade‚ recovered some of those losses to trade 0.32% down
at R83.43. More than 30 miners were shot dead by the police at the
Lonmin mine in Marikana in Rustenburg‚ Police Minister Nathi
Mthethwa said on Friday.
AngloGold Ashanti [JSE:ANG] gained
R4.23‚ or 1.48%‚ to R290.00. Harmony [JSE:HAR] dropped R3.99‚
or 4.66%‚ to R81.72.
“SA is the worlds largest producer of
platinum thus any negative news around our mines is likely to have a
significant impact on prices. Harmony is trading 4% lower for the
day. The company released results yesterday‚ posting a loss of 20
cents per share; expectations were for a slight profit. It also cut
long term production estimates‚” Govender said.
In banks‚ Absa Group Limited [JSE:ASA] gave up
R1.76‚ or 1.23%‚ to R141.30.
On the retail front‚ Woolworths
Holdings Limited [JSE:WHL] fell by R1.76‚ or 3.12%‚ to R54.74 and Truworths
International Limited [JSE:TRU] dropped R3.98‚ or 3.86%‚ to R99.02. Shoprite Holdings Limited [JSE:SHP]
gave up R4.23‚ or 2.63%‚ to R156.76.
“The retail and banking sectors
appear hard hit this morning‚ following disappointing interim
results (at least cost growth) from Standard bank and Truworths
yesterday‚” said Patrick Mathidi‚ a market commentator from RMB
In construction Aveng [JSE:AEG] lost
82 cents‚ or 2.38%‚ to R33.58‚ while Hulamin [JSE:HLM] improved
12 cents‚ or 3.13%‚ to R3.95. M&R Holdings [JSE:MUR] lost 35
cents‚ or 1.49%‚ to R23.13.
“Trading updates from construction
groups Wilson Bayly and Murray and Roberts are providing mixed
fortunes for the sector this morning‚ with M&R down‚ WBO up
and Aveng down heavily‚ leaving the sector mixed to negative‚”