The JSE all share opened flat on Thursday, despite platinum and gold shares jumping on the news that Sibanye-Stillwater had announced an intended takeover of Lonmin.Gold shares were also boosted by a weaker dollar, but Naspers opened weaker. Sibanye-Stillwater said the agreement with Lonmin entailed an all-share offer, and it "expected the transaction to be net asset value accretive".At 9.35am Sibanye-Stillwater was down 1.43% at R15.88, but Lonmin rocketed 17.6% to R14.70.Steinhoff shares came under renewed pressure after the group announced that its 2016 financial statements would also need to be restated and could no longer be relied on. This raised new concerns about the extent of financial problems at the global retailer, which led to the share plummeting 90%.Earlier, auditors refused to clear Steinhoff’s 2017 financial results due to accounting irregularities.At 9.35am Steinhoff was down 10.2% to R8.80.Early market sentiment was subdued, following the expected decision by the ...
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