Loading...
See More

Stocks book worst week in two months

Aug 30 2013 19:00 Reuters


Company Data

IMPALA PLATINUM HOLDINGS LIMITED [JSE:IMP]

Last traded 0
Change -1,55
% Change 0
Cumulative volume 928247
Market cap 47.86bn

Last Updated: 22-12-2014 at 04:31. Prices are delayed by 15 minutes. Source: McGregor BFA

GOLD FIELDS LIMITED [JSE:GFI]

Last traded 0
Change 1,23
% Change 0
Cumulative volume 911408
Market cap 39.35bn

Last Updated: 22-12-2014 at 04:31. Prices are delayed by 15 minutes. Source: McGregor BFA

ANGLOGOLD ASHANTI LIMITED [JSE:ANG]

Last traded 0
Change -0,49
% Change 0
Cumulative volume 589540
Market cap 40.32bn

Last Updated: 22-12-2014 at 04:31. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

JSE softer as gold strike looms

SA stocks hit record highs

JSE surges to record close

Gold, banks push stocks to record highs

JSE trades softer

SA stocks dive on drop in gold shares

 
Johannesburg - South African stocks fell on Friday, booking their steepest weekly fall in more than two months, as investors remained skittish about labour strikes rattling the economy and turmoil in Syria.

Workers in the gold mining industry are set to strike for higher pay from Tuesday, inflicting more damage on an industry that has produced a third of the bullion ever pulled from the earth but is now in rapid decline.

Emerging market assets have been sold off for much of this week on fears of possible Western military action in Syria.

The blue chip JSE Top 40 - (Tradeable) [JSE:J200] index fell 0.66% to 37 863.93. It was off 2.1% for the week, the biggest weekly drop since June 22, and down 2.7% for August.

The broader All Share [JSE:J203] index gave up 0.47% to 42 228.34. The index was down 1.8% for week, also the steepest weekly fall in more than two months, and down 2.3 percent for August.

But gold shares, which have been hammered in recent weeks, recouped some losses. Traders said, however, the recovery was not supported by fundamentals.

AngloGold Ashanti [JSE:ANG] shares were up 4.72% and Gold Fields [JSE:GFI] gained 2.69 %.

"The resource stocks are trading a bit weaker on the back of a strengthening rand," said Henre Herselman, a derivatives trader at Nedbank Private Wealth.

Bourse heavyweight Anglo American was down 2.83% to R235.50 and Impala Platinum (Implats) [JSE:IMP] lost 2.16% to R113.50.

Richemont, whose share price often moves inversely to the rand because it reports in Swiss francs, fell 2.32% to R97.14.

The rand firmed nearly 1% against the dollar in late afternoon deals on Friday.

On the upside, Woolworths was 4.94% higher at R68.21, extending gains to the second-straight day after the high-end food retailer posted a nearly one-third rise in full-year profit.

Trade was relatively robust, with 187 million shares changing hands, according to preliminary bourse data.

Decliners outnumbered advancers, 171 to 122, with 61 shares unchanged.


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

anglo gold ashanti  |  implats  |  goldfields  |  markets
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

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
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Money Clinic

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