A weak performance from market heavyweight Naspers, and a sharp retraction in banks, resulted in the JSE all share closing weaker on Wednesday. Naspers closed 3.02% lower at R2,715.56 as profit-taking from elevated levels kicked in. Naspers has been one of the best-performing shares so far this year, gaining an annual 40% earlier in the month. Banks, retailers and property reeled on foreign risk-off selling with volumes at R28bn, much higher than earlier in the week. The all share closed 1.10% lower at 53,562.60 points and the blue-chip top 40 dropped 1.14%. Banks dropped 3.12% and the gold index 1.68%. Financials were down 1.58%, property lost 0.98%, and general retailers closed 0.86% lower. Platinums added 0.33%. Anglo American was down 1.47% to R175.98. Richemont added 2.10% to R110.61 and British American Tobacco gained 1.24% to R944.13. Imperial Holdings dropped 1.52% to R166 and Remgro was 1.23% lower at R217.70. Sibanye Gold dropped 2.47% to R15.82 and Lonmin 5.62% to R12.76....
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.