The JSE closed lower on Friday for the third consecutive session, as disappointing retail data out of the US added to earlier risk-off trade.

An explosion occurred on a London underground train on Friday‚ injuring 22‚ in what UK police are treating as a terrorist attack‚ reported Dow Jones Newswires. North Korea earlier fired another missile over Japan, in an apparent retaliation to the latest round of sanctions, imposed on Monday.

The US Commerce Department said on Friday that spending at US stores, restaurants and websites decreased by a seasonally adjusted 0.2% in August, while a consensus poll conducted by Bloomberg expected a 0.1% increase. The weak data comes ahead of the US Federal Reserve open market committee meeting next week.

The all share fell 0.37% to 55,645.2 points and the top 40 0.49%. The all share is off 0.14% for the week.

Banks lost 1.46%, the platinum index 2.78% and financials 0.54%. General retailers added 0.78%, gold miners 0.79% and the property index 0.41%.

Locally, the Reserve Bank monetary policy committee will announce its decision on interest rates on Thursday. Since the last meeting, in which a 25 basis-point cut was announced, the economic backdrop has remained conducive to further easing, said Investec economist Kamilla Kaplan.

The local inflation for August is due on Wednesday, with Trading Economics forecasting a year-on-year increase of 4.9%, from 4.6% in July.

Impala weighed on the platinum index for the second consecutive day, having released market-disappointing results on Thursday. Its share price was off 6.98% to R34.23, while Anglo American Platinum’s was down 1.54% to R346.49. The platinum index lost 9.11% during the week, and Implats 16.49%.

Kumba Iron Ore surged 4% to R220.47, Assore 2.41% to R280.61, and Exxaro 1.68% to R121.

AngloGold Ashanti added 2.22% to R131.45, while Sibanye-Stillwater fell 2.24% to R17.90. The latter fell despite earlier reporting progress in the development of its Blitz project in Montana.

Sasol dropped 1.87% to R393.57.

Rand hedge British American Tobacco gained 2.35% to R849 and Richemont 1.01% to R119.50. Naspers lost 1.39% to R2,924.

Investment group Reinet surged 3.26% R28.85, while PSG was off 1.11% to R234.37.

Sanlam fell 2.03% to R67.08 and Liberty 2.69% to R104.49.

Steinhoff lost 1.51% to R62.05, while Woolworths added 1.63% to R59.76. Shoprite was off 1% to R209.75 and Pick n Pay 1.94% to R61.16.

Vodacom lost 1.8% to R160.70 and MTN 1.41% to R121.44.

Discovery relinquished 0.35% to R142, ahead of the release of its results for the year-ended June to be released on Monday. The company said in August it expected headline earnings per share (HEPS) to grow by between 18% and 22% from the prior period, largely as a result of non-recurring re-branding and business acquisition costs.

Software company SilverBridge was unchanged at R2.95, ahead of its final results on Monday. The company said in August it expected HEPS to be between 41% and 45% higher, due to, among other things, the decrease in numbers of shares used in the calculation, following the purchase of more shares by the SilverBridge Employee Share Trust.

Pallinghurst plunged 5.5% to R2.75, ahead of its results for the half-year to end-June. The company reported a net loss of $32m in the prior period. It reported a net loss of $32.9m for the six months to June last year, from a profit of $3.2m previously.

US stock markets opened nearly unchanged due to investor caution, according to the newswire. Shortly after the JSE closed the Dow was up 0.2% to 22,247.98 points. The FTSE 100 was off 1%, the CAC 40 0.28% and the DAX 30 0.12%.

Platinum slumped nearly 2% to $965.69 an ounce and gold 0.7% to $1,320.54. Brent crude was up 0.61% to $55.60 a barrel.

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