JSE firms slightly as banks gain, but gold miners and Steinhoff slide
After spending much of the day little changed the JSE closed marginally stronger on Tuesday, with losses by gold and platinum miners failing to offset gains by banks and retailers. Bad news also hit a number of individual company shares. Banks and retailers benefited from a stable rand, while precious metal miners were under pressure from softer commodity prices. Embattled retailer Steinhoff International fell 13.02% to R7.55 following reports late on Monday that the European Central Bank had sold all its Steinhoff bonds. Companies in retail mogul Christo Wiese’s stable were generally under pressure‚ with Brait lower amid reports that insurers were no longer covering credit agreements with suppliers to its New Look fashion outlets in the UK. Aspen Pharmacare fell 4.56% to R250.13 having at one point slumped just over 10%. The company said in a statement it was aware of market speculation regarding a possible report into its affairs by Viceroy Research, which recently published a rep...
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