The JSE opened marginally weaker on Friday on softer commodity prices and as Asian markets turned in a mixed performance. Lower gold and platinum prices dragged gold and platinum shares lower, but rand-hedges were up as the rand stabilised around R13.66/$. Banks and retailers remained under pressure in risk-off trade and in anticipation of weak Christmas period sales. The Nikkei 225 dropped 0.34% and the Hong Kong Hang Seng added 0.07%. The Dow closed 0.21% lower on Thursday as retailers Macy’s and Kohl’s fell 13.89% and 19.02% respectively after holiday sales fell below expectations. Sentiment was negative as US ADP private sector payroll jobs data disappointed by expanding by 153,000 in December from 215,000 in November and an expected 170,000. This indicated employers were less willing to hire employees in a job market characterised by full employment. Spot gold was 0.47% lower at $1,1174.64 an ounce in early morning trade with platinum softening 0.48% to $961.71 an ounce. At 9.4...
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