JSE lower on domestic, global factors

THE BOURSE fell slightly yesterday, dragged lower by domestic and global factors.

The benchmark JSE Top40 index lost 0.21 percent to 46 759.58 points, while the all share index weakened 0.15 percent to 53 482.88 points. Africa’s largest retailer Shoprite

Holdings dropped 2.01 percent to R195, budget retailer Mr Price lost 1.7 percent to R216.27 and Standard

Bank Group weakened 1.61 percent to close at R138.34.

“It’s still driven by what is happening in the currency (rand) and there are still other factors internationally. We still are waiting for what’s going to be said from the Fed,” said Afrifocus securities portfolio manager Ferdi Heyneke.

US Federal Reserve chairperson Janet Yellen is due to make a speech to global central bankers today. Although it is seen maintaining rates in September, expectations have risen that Yellen might indicate a clearer timeframe for the next hike after strong housing data and hawkish comments by other officials. Bullion and platinum producer

Sibanye Gold fell 3.2 percent to R62.91. The company announced that it posted a six-fold surge in interim earnings on a sharply higher randgold price and said it was refocusing on safety after a spike in fatalities.