JSE in the doldrums for a third day

The JSE closed lower in dull trade on Tuesday for the third session running ahead of US President Donald Trump’s congressional address.

“Overall, markets were dull and listless,” said Standard Bank trader Warrick Butler.

The rand failed to provide direction for the local equity market and was largely unchanged at about R13/$ in late afternoon trade. At 5.40pm, the local currency was at R13.0498 to the greenback from R13.0102 on Monday.

The all share closed 0.68% lower at 51,146.10 and the blue-chip top 40 dropped 0.75%. The gold index shed 3.26% and food and drug retailers dropped 1.42%. Property was down 1.03%. Resources closed 0.94% lower and banks dropped 0.81%.

Commodities were higher, with gold gaining 0.34% to $1,256.47. Platinum rose 0.72% to $1,033 an ounce.

Resources trended lower for most of the day as the market remained nervous after the recent strong run in commodities and the possibility of the dollar rising.

BHP Billiton was 1.46% lower at R208.93. Anglo American was off 0.25% at R203.61 and Kumba Iron Ore 1.4% lower at R214.50.

Sasol slipped 0.53% to R373. The chemical group reported on Monday that interim headline earnings a share to end-December fell 38% to R15.12.

Bidvest plunged 5.08% to R155.02. The group said earlier that interim headline earnings a share to end-December had risen 4.4%.

Gold Fields fell 2.23% to R40.25. Sibanye was 5.26% lower at R26.31.

Impala Platinum was 0.32% up at R44.04.

Nedbank rose 0.2% to R245 after reporting that headline earnings a share to end-December rose 5.1%. Barclays Africa dropped 1.84% to R151.95. First Rand lost 1.15% to R49.72. Naspers lost 1.66% to R2,097.67. Bonds weakened with the R186 bid at 8.795% from 8.72% on Monday.

At 5.46pm, the local near-dated top-40 Alsi futures index had lost 0.81% to 44,093 points with 26,249 contracts traded from Monday’s 21,720.