JSE all-share ends flat as min­ers gain on rand, but Stein­hoff drops fur­ther

The Herald (South Africa) - - BUSINESS - Maarten Mit­tner

THE JSE all-share closed flat yes­ter­day as min­ers ral­lied on a weaker rand, while re­tail­ers and banks dipped.

The rand weak­ened more than 1.2% to R13.6892 to the dol­lar in in­tra­day trade, af­ter the US dol­lar firmed be­low the $1.18-level to the euro, on op­ti­mism that the tax re­form bill will soon be passed by both houses in Congress.

Com­mod­ity prices were marginally softer.

Stein­hoff had an­other dis­as­trous day, los­ing a fur­ther 43.21% to R10, amid in­di­ca­tions of drawn-out in­ves­ti­ga­tions into the firm by reg­u­la­tory author­i­ties in South Africa, Ger­many and the US.

Stein­hoff is down 86% al­ready this year.

Naspers re­bounded on a good show­ing by Chi­nese in­ter­net com­pany Ten­cent – of which Naspers own 33% – in Hong Kong trade.

Naspers climbed 2.52% to R3 532.02.

The all-share closed 0.01% up at 58 013.2 points and the blue-chip Top 40 0.16%. The plat­inum in­dex rose 2.2%, re­sources 0.93% and the gold in­dex 0.85%.

Gen­eral re­tail­ers fell 1.93%, food and drug re­tail­ers 1.4%, banks 1.03% and fi­nan­cial stocks 0.81%.

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