Banks firmer as JSE closes lower
The JSE closed lower on Thursday, with banks posting the only significant positive performance.
The rand was weaker, while JSE volumes were high at R37.7bn relative to the daily average of R20bn. Thursday marked the futures close-out on the JSE for the first quarter.
Some miners were lifted slightly by positive data and a weaker rand, with banks and retailers also cheered slightly by domestic news.
Locally, focus is on an expected ratings announcement by Moody’s Investors Service next week, which comes ahead of a Reserve Bank monetary policy decision later in March.
The all share fell 0.38% to 58‚203.8 points and the top 40 0.34%. Platinums lost 1.06%‚ industrials 0.88% and gold miners 0.87%. Banks firmed 0.78%.
Diversified miner Anglo American gained 1.99% to R291.54 despite trading ex-dividend. Kumba Iron Ore dropped 5.41% to R297.18 and Exxaro 4.89% to R107.
African Rainbow Minerals fell 5.27% to R105.80 ahead of its results for the year to end-December. In the previous period it reported headline earnings per share of R8.93.
Richemont gained 1.12% to R105.61, while Anheuser-Busch InBev dropped 0.37% to R1‚338.64.
Telkom lost 2.52% to R53.06 and MTN 1.89% to R125.04.
EOH slumped 11.76% to R52.50, extending its 21% crash on Wednesday that followed in the wake of a downbeat trading update.
Naspers fell 2.05% to R3‚465.50.
Old Mutual firmed 1.86% to R41.68 after it earlier reported after-tax profit rose 49% to £1.26bn in the year to end-December‚ compared with the prior period.
Metair fell 5.67% to R22.45 despite saying earlier that headline earnings per share rose 23% to R2.81 in the year to December, which was in the upper end of its guidance.
At 5.40pm, the Dow was up 1.17%‚ while in Europe the DAX 30 had gained 1.08%‚ the CAC 40 0.71% and the FTSE 100 0.38%.
At the same time gold was off 0.5% to $1‚318.07 an ounce and platinum 0.46% to $957.57‚ while Brent crude was up 0.58% to $65.22 a barrel.
The top-40 Alsi futures index was barely changed at 51‚801 points. The number of contracts traded was 7‚251 from Wednesday’s 47‚619.