JSE firmer on platinum stocks amid profit-taking on Ramaphosa gains
The JSE opened flat on Monday, as platinum shares rallied on a higher metal price and annual results from Anglo American Platinum (Amplats), with property stocks remaining under pressure. The property index lost 1% last week as the all share delivered its best weekly performance this year, gaining 5.76%. Resilient dropped another 4% on Monday morning, despite some individual property shares faring well. Resilient said on Friday that it had initiated an independent review into the cross-shareholding structure of the group, Miners found some support from a weaker rand, but banks and retailers trended lower. Market sentiment was subdued on some profit-taking after President Cyril Ramaphosa’s state of the nation address on Friday, following the sharp rises earlier in the week. "The speech was well-received, with the core focus being creating jobs, clamping down on corruption and reforming state-owned enterprises," Nedbank Corporate and Investment Banking (CIB) analysts said. The rather ...
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