JSE ends up­beat win­ning streak marginally weaker in tame trad­ing

The Herald (South Africa) - - BUSINESS - Karl Ger­net­zky

THE JSE was frac­tion­ally weaker yes­ter­day – end­ing a nine-day win­ning run – al­beit by a nar­row mar­gin.

Vol­umes were lower than av­er­age and the rand was volatile‚ with gains in re­tail­ers and banks coun­tered by losses in rand hedges and min­ers.

The all-share fell 0.04% to 57 747.3 points and the Top 40 dipped 0.17%.

Gen­eral re­tail­ers added 1.36%‚ food and drug re­tail­ers 1.05%‚ banks 0.94% and fi­nan­cials 0.8%.

Plat­inums dropped 1.46%‚ gold min­ers 1.16% and re­sources 0.73%.

Mar­kets were di­gest­ing the US fed­eral open mar­ket com­mit­tee min­utes‚ per­ceived as mildly dovish, fol­low­ing their re­lease.

An­a­lysts said an in­ter­est-rate in­crease in the US could still be ex­pected in De­cem­ber‚ but the min­utes in­di­cated se­ri­ous con­cerns about the out­look for in­fla­tion‚ and thus fur­ther in­creases next year.

Fed chair­woman Janet Yellen has de­scribed the lack of ris­ing in­fla­tion as some­thing of a “mys­tery”.

Do­mes­tic data was up­beat. Min­ing pro­duc­tion in­creased by a sig­nif­i­cant 6.9% year on year in Au­gust‚ af­ter 0.9% year on year in July. An­a­lysts had ex­pected a con­trac­tion.

The re­lease has raised eco­nomic per­for­mance ex­pec­ta­tions.

More will be known when re­tail sales data are re­leased next week.

Aspen Phar­ma­care was the best per­former among blue-chip com­pa­nies‚ adding 4% to R319.19.

Rand-hedge Bri­tish Amer­i­can Tobacco dropped 1.4% to R864.32 and Richemont 1.08% to R123.74.

Im­pe­rial Hold­ings rose 3.75% to R206.56 – and is up 6.04% this week.

Su­per Group dropped 1.07%. Gold Fields lost 2.88%. – Busi­nessLIVE

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