The JSE headed south on Tuesday, bucking a largely positive global trend. The all share was off 0.51% to 51,354.50 points at lunchtime, as platinum shares came under renewed pressure despite a slightly higher platinum price and a weaker rand that usually favours the sector. Gold miners were little changed on the day, but have dropped about 10% over the past five sessions, with analysts tracking losses to negative sentiment following the release of the controversial new version of the Mining Charter. Financial stocks fell with retailers, as the rand slipped through the R13/$ level, marking a significant retreat from last week when it strengthened to R12.56/$. The rand’s retreat has been attributed to Public Protector Busisiwe Mkhwebane’s controversial remarks on the mandate of the Reserve Bank, which is highly regarded by ratings agencies and markets alike. Mkhwebane recommended that the Bank’s constitutional mandate be amended to promote economic growth rather than to protect the va...
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