Gold miners twinkle on a dull JSE in mild retreat as traders book their profits
The JSE staged a mild retreat on Thursday as traders booked profits made over the past few sessions. The all-share index slipped 0.2% to 51,404.20 points at lunchtime and the top 40 eased 0.13%. Banks have recovered since falling fairly sharply last week as the National Prosecuting Authority announced fraud charges against Finance Minister Pravin Gordhan. Trading in resources was mixed. Gold miners extended gains for a third day running and diversified miners lagged. "The resources sector remains relatively well supported from a technical perspective despite the fact that global commodities remain under pressure," said Momentum SP Securities analysts. Big industrial stocks were fairly muted and mixed, although MTN resumed its decline as concern about its Nigeria operations continued, among the other factors. "It has been a frustrating and directionless market overall, given a number of uncertainties both locally and internationally, Brexit being one of them," said Ferdi Heyneke, por...
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