JSE down on continued consolidation

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

The JSE weakened at noon on Friday as it continued to consolidate after hitting record highs on Wednesday and Thursday.

“The markets is still experiencing some post-Christmas trade. We started the year on a high and we have hit a record high in both of the sessions so far this year‚” said Ockert van Niekerk‚ head of trading at PSG.

At 12.02pm‚ the all share index was 0.12% lower at 40‚196.49 points as gold miners lost 2.45% in value.

“The markets is still settling into the post-fiscal-cliff era as the euphoria from averting it has started to wear off‚ as traders are looking for a more permanent deal in the US‚” Van Niekerk said.

Anglogold Ashanti (ANG) lost 2.04% to R263.56‚ Gold Fields (GFI) was 2.99% lower at R103.34‚ Harmony (HAR) shed 2.71% to R72.42‚ while Rand Gold and Exploration (RNG) added 11.11% to R2.50.

Lonmin (LON) shed 2.08% to R40.00‚ BHP Billiton (BIL) lost 1.07% at R300.60‚ while Jubilee Platinum (JBL) gained 3.31% to R1.25 and Coal of Africa (CZA) added 4.55% to R2.30.

In telecommunications Telkom (TKG) shed 1.40% to R16.90 while MTN Group (MTN) added 1.61% to R179.60.

Altech (ALT) lost 1.09% to R38.15‚ Santam (SNT) shed 2.32% to R185.50‚ Group Five (GRF) gave up 2.86% to R27.20‚ while Truworths (TRU) added 1.83% to R114.30 and The Foschini Group (TFG) gained 1.79% to R145.97. - I-Net Bridge

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