JSE closes marginally higher in mixed trade while Naspers hits R2,800 a share
The JSE closed slightly firmer on Monday in mixed trade, as Naspers reached another record high while resources weakened on the firmer rand. The rand traded firmer than R13.20 to the dollar for most of the day, before weakening marginally toward the close, as the dollar lost ground to $1.1248 to the euro. Platinum and gold shares turned around in late afternoon trade as commodity prices firmed with industrials also ending the day firmer, mainly on British American Tobacco, with general retailers rising nearly 1%. At the JSE’s close the platinum price had risen 0.54% to $943 an ounce, and gold 0.39% to $1,258. Brent crude was 0.56% higher at $54 a barrel. Naspers’s share price hit R2,800 for the first time, bringing gains for the year so far to 40% as the internet and media group continues to rise on a strong performance by Chinese firm Tencent — in which it owns 34% — in Hong Kong trade. "While Naspers’s performance is obviously welcome for its shareholders, it did create concentrat...
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