JSE opens lower on global miners but platinum stocks remain in favour
The all share opened weaker on Tuesday, as global mining and gold stocks retreated on a marginally firmer dollar.Platinum shares were higher for the second consecutive day. Northam Platinum jumped more than 3% ahead of results expected later in the week. Anglo American Platinum shares were also in demand, after strong gains on Monday following its decision to pay a dividend for the first time in six years.Banks and retailers trended lower in risk-off selling. According to the latest data, local retailers have the highest foreign share ownership at 54%, followed by media through Naspers.Property shares remained under pressure, although the sell-off in Resilient shares appears to have lessened.Market volumes are expected to pick up later on Tuesday when US markets open, following Monday’s public holiday. Chinese markets are still closed for the lunar new year holiday period, but the Nikkei lost 1.01%.The platinum price held up above $1,000/oz, but gold lost 0.47% to $1,339.45/oz.At 9....
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.