Bourse’s four-day winning streak ends Graph of the day

STOCKS snapped a four-day winning streak on Friday, as Greece earlier failed again to clinch a deal with its creditors and avert a default, sending investors into more safer haven assets.

The JSE Top40 index shed 0.43 percent to 47 054.51 points and the broader all share index was down 0.35 percent at 52 669.75 points.

Shares in platinum producer Lonmin dropped to their lowest level in more than two months, after an inquiry into the killing of 34 miners during a 2012 strike put some of the blame on the company. The stock fell 1.04 percent to R22.75.

Curro Holdings

was

down 0.91 percent at R33.58 after the country’s largest private education firm fired one of its teachers over racial segregation complaints.

On the upside, gold producers gained, with Harmony Gold 2.42 percent up to R16.51 and Gold Fields rising 3.34 percent to R39.

Meanwhile, the rand fell more than 1 percent against the dollar on Friday as worries about the global impact of a possible Greek debt default added to investors’ concerns about the weak outlook for South Africa.

The rand was bid at R12.2369 to the dollar at 5pm, 15.28c softer than at the same time on Thursday. Government debt followed suit, with the yield for paper maturing in 2026 rising.

FTSE/JSE Africa Index Series