JSE down on continued consolidation

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.

The JSE is seen in this file photo: Leon Nicholas. Credit: INDEPENDENT MEDIA

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