JSE closes flat‚ banks weigh

Comment on this story
JSE1 Independent Newspapers The JSE. Photo: Simphiwe Mbokazi.

The JSE pared some earlier gains to close flat on Friday due to some profit taking after the bourse reached an all-time high on Thursday.

“It has been a relatively quiet trading day with a bit of strength in industrials due to SABMiller continuing to move up after a strong run yesterday after releasing their interim results‚” said Guy Algeo‚ director at Imara SP Reid.

At 5pm‚ the all share index was up 0.06% to 37‚865.59 points‚ with the top 40 index adding 0.06% to 33‚634.44 points‚ while banks and gold miners were down 1.07% and 0.68% respectively.

Leading European bourses were trading stronger‚ with the UK’s FTSE 100 up 0..65% at 5.22pm local time.

Meanwhile US stocks rose broadly at the open of an abbreviated session‚ as an expansion in Chinese manufacturing lifted investor spirits after the Thanksgiving holiday. Volumes are expected to remain light. The stock market will close at 1pm EST‚ Dow Jones Newswires reported.

The Dow Jones Industrial Average had gained 0.84% to 12‚917.07 points by 5.23pm local time.

Among individual counters on the JSE‚ AngloGold Ashanti (ANG) was down 0.47% and Gold Fields (GFI) shed 1.14% to R105.

Among banking shares RMB Holdings (RMH) gave back 2.72% to R38.60 and Nedbank (NED) dipped 1.55% to R179.18‚ while Abil (ABL) gained 2.61% to R32.63.

SABMiller (SAB) continued Thursday’s momentum‚ closing up 1.45% at R401.61. - I-Net Bridge

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines