The JSE closed lower on Friday, with banks remaining under pressure in the wake of the announcement earlier in the week by the Competition Commission that it would prosecute 17 local and international banks for collusion and price fixing in the foreign exchange market. General retailers and platinums staged a strong comeback towards the close, but too late to turn the market around. Trading was thin ahead of the US long weekend, with markets there closed for President’s day on Monday. Local market focus is starting to shift to the budget on February 22. The all share closed 0.69% lower at 52,223.50 points and the blue-chip top 40 shed 0.90%. Banks dropped 1.26%, resources 0.88% and financials 0.77%. Platinums firmed 1.21%. After being down nearly 1% in early morning trade, general retailers recovered to close 0.76% higher. The all share lost 0.88% in the week but is still up 3.1% in 2017. BHP Billiton closed 1.57% lower at R225.45 while Kumba Iron Ore gained 2.69% to R215.35. Gold F...
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