JSE lower as re­sources un­der pres­sure

The Star Early Edition - - PRICES -

STOCKS opened the sec­ond week of the year lower yes­ter­day.

The bench­mark JSE Top40 in­dex dipped 0.34 per­cent to 44 306.47 points, while the all share in­dex slipped 0.32 per­cent to 51 049.71 points.

Re­source shares came un­der pres­sure, de­spite an up tick in plat­inum and spot gold prices, amid profit tak­ing fol­low­ing a steady climb of 3.64 per­cent in the min­ing sec­tor in the last week.

“Guys are tak­ing a bit of prof­its here, it’s a pull back af­ter a strong run,” said BP Bern­stein trader Vasili Ti­ra­sis.

Lon­min dropped 3.61 per­cent to R28.55, An­glo Amer­i­can Plat­inum re­treated 2.73 per­cent to R281.70, and

An­glo-Gold Ashanti slid 2.6 per­cent to close at R156.14.

Trad­ing vol­umes on the bourse con­tin­ued to be thin with a to­tal of around 140 mil­lion shares chang­ing hands.

Mean­while, the drop in oil prices weighed on en­ergy stocks on Wall Street yes­ter­day af­ter­noon as the Dow Jones in­dus­trial av­er­age moved fur­ther from hit­ting the his­toric and widely awaited 20 000 mark points.

The Dow Jones in­dus­trial av­er­age fell 42.63 points, or 0.21 per­cent, to 19 921.17 points, while the Stan­dard & Poor’s 500 was down 4.01 points, or 0.17 per­cent at 2 272.97 points.

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