JSE has worst performance in four weeks‚ but property index avoids a rout
The JSE posted broad-based losses on Thursday, with market heavyweight Naspers pulling down the local bourse, while the property index was hit by speculation of yet another corporate scandal.The fall in property stocks followed rumours that a JSE real-estate investment trust (Reit) may be the subject of a forthcoming report by Viceroy Research, which penned a report in December that sent Steinhoff International shares into free fall.After being down about 8.4% at one stage‚ the property index pared losses, to 2.18%, by the JSE’s close.Steinhoff fell 10.6% to R6.75 on Thursday on news that joint parliamentary committee hearings into the Steinhoff debacle would begin at the end of January.The all share fell 0.62% to 59,606 points and the top 40 0.65%. Banks lost 2.07%, general retailers 1.64%, financials 1.48% and industrials 0.77%. Gold miners added 0.92% and resources 0.75%.Resilient fell 4.37% to R128.53, after dropping as much as 22% during the course of the day. The company said ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.