Share

JSE softer as bearish sentiment persists

The JSE had another tough session as it closed weaker on Friday as sentiment remained mostly bearish across all the major sectors.

The local bourse shrugged off gains in Asia where the Shanghai Composite Index gained 0.72%, the Hang Seng rose 0.5% while the Nikkei gained 0.4%. In Europe, indices tracked mostly lower with the exception of the FTSE 100 which advanced on the day. In the USA, stocks retracted in reaction to China’s plans to impose tariffs on certain US goods. Locally, market participants are still being warded off stocks on the back of the current weak sentiment characterizing local retailers.

On the currency market, the rand made inroads against the greenback as it rose to a session high of R15.07/$ before it was recorded trading 0.83% firmer at R15.11/$ at 17.00 CAT.

A difficult session ensued for Massmart [JSE:MSM] which tumbled 7.81% to close at R40.26. Weakness was also recorded for Shoprite [JSE:SHP] which fell 3.61% to R116.29, Pick n Pay [JSE:PIK] which dropped 2.41% to R55.15, and The Spar Group [JSE:SPP] which closed at R171.24 after losing 1.26%. South32 [JSE:S32] continued to reel from its recent release of results which saw it lose another 5.87% in today’s session to close at R25.16.

Exxaro Resources [JSE:EXX] fell 4.28% to close at R128.31, while Anglo American Platinum [JSE:AMS] lost 2.39% to close at R818.62. Other significant losers on the day included Imperial Logistics [JSE:IPL] which lost 2.72% to close at R48.25 and Discovery Ltd [JSE:DSY] which fell 2.32% to close at R104.54.

Gold miners had another session of gains which saw stocks such as Harmony Gold [JSE:HAR] climb 4.65% to close at R52.49, while Gold Fields [JSE:GFI] surged 2.68% to close at R89.37. Intu Properties [JSE:ITU] closed amongst the day’s biggest gainers after advancing 8.71% to close at R6.49, while Tsogo Sun Hotels [JSE:TGO] gained 7.01% to closed R4.12. Other significant gainers on the day included Brait [JSE:BAT] which gained 3.75% to close at R15.20, Grindrod [JSE:GND] which rose 3.53% to close at R4.99, and Mr Price [JSE:MRP] which closed 2.42% higher at R155.12.

The JSE All-Share index eventually closed 0.37% softer while the JSE Top-40 index shed 0.39%. Financials dropped 0.59%, Industrials shed 0.43%, while the Resources index closed 0.23% weaker.

At 17.00 CAT, Palladium was down 1.29% at $1469.80/Oz, Gold had risen 1.46% to trade at $1519.99/Oz, and Platinum was up 1.17% to trade at $868.05/Oz.

Oil prices dipped further in today’s session and the commodity was trading 1.02% weaker at $59.36/barrel just after the JSE close.

23 August

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
18.88
+0.3%
Rand - Pound
23.86
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
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