25 Jan 2013

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JSE dips amid consolidation

I-Net Bridge

Johannesburg – The JSE opened in negative territory on Friday with platinum stocks showing some upside‚ while gold miners were the main laggards‚ amidst some consolidation in the market after a strong day on Thursday.

At 9:19am‚ the All Share [JSE:J203] index was down 0.12% to 40‚557.56 points‚ with the platinum sector adding 0.4% and gold miners dropping 1.9%.

In Asia the Nikkei 225 closed 2.88% stronger‚ while Hong Kong’s Hang Seng index dipped 0.21%.

“Gold has pulled back in the US last night and that is why our gold miners are down today. We are seeing some profit taking this morning‚ a bit of a pull-back in the market‚ after dual-listed shares such as South African Breweries and Richemont showed good gains yesterday as they are rand hedge stocks and the rand dipped below R9 yesterday‚” said Francois Venter‚ trader at Investec Asset Management in Cape Town.  

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Rand - Dollar
19.23
-0.4%
Rand - Pound
23.90
-0.3%
Rand - Euro
20.48
-0.4%
Rand - Aus dollar
12.32
-0.2%
Rand - Yen
0.12
-0.5%
Platinum
942.40
-0.8%
Palladium
1,007.50
-2.1%
Gold
2,382.77
+0.2%
Silver
28.28
+0.2%
Brent Crude
87.11
-0.2%
Top 40
66,703
-0.7%
All Share
72,745
-0.7%
Resource 10
62,944
-0.6%
Industrial 25
97,653
-0.8%
Financial 15
15,385
-0.6%
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