MARKET WRAP: JSE closes slightly weaker but miners rise on weaker rand
The JSE all share closed marginally softer on Friday, but ended a choppy week 0.23% higher, its sixth consecutive positive weekly close. It is up 18.01% for the year. The weaker rand on Friday failed to support rand hedges such as Richemont and Naspers, but miners rose despite little-changed metal prices, while Brent crude had gained 0.37% to $64.015 a barrel in evening trade. The all share closed 0.14% lower at 59,776.10 points and the blue-chip top lost 40 0.17%. Industrials shed 0.88%, general retailers 0.64%, and property 0.52%. Resources added 1.62%, the gold index 0.86% and platinums 0.73%. Platinum was slightly higher at $938.88 an ounce soon after the JSE’s close and gold was flat at $1,284.30. Anglo American added 2.96% to R281.59 and BHP 1.43% at R271. Richemont shed 2.46% to R125.08. The group reported that sales increased by 10% at actual exchange rates to €5.6bn and by 12% at constant exchange rates in the six months to end-September. Naspers was 0.67% weaker at R3,541....
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