JSE drifts lower after record high

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

Johannesburg - The JSE drifted lower at the start on Friday morning after hitting a record high on Thursday following good US employment data.

“The market is drifting lower as people take profits after the past two good sessions. The rand is weaker so that should encourage some rand-hedge stock buying‚ but otherwise we expect a quiet session until the December US non-farm payroll data is released at 3.30pm‚” a local equities trader said.

At 9.15am‚ the all share index was just 0.17% lower at 40‚176.92 points. Leading the declines‚ gold miners lost 2.55%‚ followed by a 0.29% drop in the resources index.

Among individual counters to fall‚ gold miner Anglogold Ashanti (ANG) shed 2.51% to R262.01‚ while Goldfields (GFI) dropped 2.99% to R103.35.

Anglo American (AGL) was up 0.25% to R276.86‚ while Exxaro (EXX) eased by 1.37% to R174.55. - I-Net Bridge

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