JSE share prices take a hefty knock
SHARE prices on the Johannesburg Stock Exchange (JSE) were lower at the close yesterday after Fitch ratings agency affirmed its sub-investment grade rating.
The all-share closed down 1.35 percent to 52 840.68 points, and the blue-chip top 40 was 1.41 percent down.
Resource shares took a heavy knock as the slide in commodity prices continued and the rand eased closer to R12.96 against the US dollar at 5pm.
Financial stocks also took a beating, following news that UK parent company Barclays plc sold its stake in its African subsidiary.
Barclays Africa rose 3.28 percent to R143.56. Among individual stocks on the JSE, Anglo American dropped 2.55 percent to R171.49, with BHP losing 2.03 percent to R179.18 and Glencore dropping 2.76 percent to R47.5. Sasol tumbled 2.29 percent at R383.13. Kumba slid 6.72 percent to R146.5 and Exarro dropped 5 percent to R96.99.
Among the financial stocks, FirstRand was down 2.15 percent to R48.25, with Nedbank losing 2.03 percent to R215.64 and Standard Bank dropping 1.94 percent to R143.7.
Sanlam lost 2.08 percent to R67.2. Investment group Remgro was off 2.15 percent to R108.14.
Spar was down 6.24 percent to R160.25 following its interim results released on Wednesday.