JSE down but platinums provide support

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IOL image JSE interior view INDEPENDENT MEDIA The JSE is seen in this file photo: Leon Nicholas.

Johannesburg - The platinum index was up 1.08% on the JSE at midday on Thursday assisted by Lonmin (LON) following the release of their production report and interim management statement earlier today.

At noon the JSE all share index was 0.24% lower at 40‚364.62 points‚ with the top 40 index giving back 0.37% to 35‚947.18 points. Retailers remained under pressure‚ with the index giving gave back 1.12% and financials relinquished 1.20%.

Elsewhere‚ the FTSE 100 index was down 0.49% at 11.57am local time.

Among individual shares on the JSE‚ Lonmin (LON) added 7.67% to R48.45‚ ‚ while Harmony Gold (HAR) lost 2.39% to R60.50.

Although there was some relief‚ retailers continued the downward turn of Wednesday on concerns that growth in the sector is moderating. Shoprite (SHP) was down 1.91% to R166.26 and JD Group (JDG) gave up 2.41% to R40.01. Cashbuild (CSB) continued its slide‚ losing 4.16% to R131 having lost more than 8% of its value on Thursday due to a negative trading update.

Poultry producer Astral Foods (ARL) recovered marginally but were still down 4.20% to R90 after shedding more than 7% on Wednesday after the company said it anticipated its headline earnings per share in the six months to March to drop by between 75% and 95% from the same period a year ago.

In financials‚ Sanlam (SLM) was off 1.85% to R45.55. - I-Net Bridge

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