Bourse closes day in the red

THE JSE closed in the red yesterday as investors took cash off the table‚ after upbeat Chinese economic data on Tuesday pushed the market to a record high. Losses in resources and rand hedge counters were attributed to a stronger rand.

At 5pm‚ the all share index was down 0.29% at 43‚419.32 points‚ with the top 40 index losing 0.39% and resource counters dropping 1.42%.

Gold miners lost 1.54% due to a lower bullion price and uncertainty over another strike looming in the sector, while banking shares lifted 1.19%.

SA’s largest drug maker Aspen Pharmacare (APN) rallied to a record high of R254.42 yesterday as investors welcomed the group’s better than expected results.

Shares of multimedia group Naspers (NPN) also hit a record high yesterday following gains in associate Chinese internet company Tencent. Naspers closed up 1.53% to R916.30.

Financial services group Sasfin (SFN) rose 4.11% to R36.50 after yesterday reporting a 22% rise in diluted headline earnings per share. Sector peer MMI Holdings (MMI) lifted 1.35% to R23.22 after it too issued marketpleasing results yesterday.

RMB Holdings (RMH) added 1.27% to R44 after yesterday reporting a 21% rise in diluted headline earnings per share.

Credit-based retailer JD Group surged 7.66% to R29.39, playing catch-up following the release of good numbers from its parent company Steinhoff on Tuesday.

Steinhoff (SHF) lifted 1.92% to R42.44 after rallying more than 5% on Tuesday with a strong showing also seen from the Foschini Group (TFG), whose stock climbed 5.49% to R106.89.

Anglo American (AGL) dropped 2.09% to R250.89, BHP Billiton (BIL) lost 1.44% to R301.89 and Sasol (SOL) gave up 1.60% to R480.18.

Junior gold miner Sibanye (SGL) was the surprise gainer in its sector, closing up 2.68% to R11.50. AngloGold Ashanti (ANG) lost 2.24% to R134.45 and Gold Fields (GFI) relinquished 2.51% to R50.40.

The big four banks all ended in positive territory with FirstRand (FSR) rising 1.39% to R32.75 and Standard Bank (SBK) adding 1.26% to R114.75.

Adcock Ingram (AIP) rose 3.18% to R68.10 after the company announced that it had reached an agreement with Chilean pharmaceutical company CFR regarding its proposed acquisition.

Construction counter Aveng (AEG) extended previous losses, falling 4.58% to R27.10 following the release of lower earnings on Tuesday.