The JSE ended Friday lower on softer banks and financials, with platinums and retailers staging a strong comeback toward the close. Trading was thin ahead of the US long weekend, with markets there closed on Presidents’ day on Monday. Local market focus was starting to shift to the budget speech on February 22. At the bourse’s close commodities were mixed, with gold holding above $1,241 an ounce, while platinum was 0.27% weaker at $1,008 an ounce. Brent crude had lost 0.72% to $55.31 a barrel. Banks were under pressure for most of the day following an announcement by the Competition Commission that it would prosecute 17 local and international banks for collusion and price-fixing in the foreign-exchange market. Investec and Standard Bank could face up to R69.7bn in fines, based on 10% of turnover. Investec said in a statement on Friday it was seeking further clarity from the commission on the charges. "We note that the case against Investec Limited is confined to the conduct of a si...
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