Weaker gold stocks lead bourse lower

Top movers Graph of the day

FTSE/JSE Africa Index Series

SHARES declined yesterday, led by weaker gold stocks as cautious investing kicked in ahead of the US rates decision today.

The benchmark JSE Top40 index was down 1.39 percent to 44 864.62 points, while the all share index retreated 1.23 percent to 51 335.75 points.

The bourse bucked global market trends as local gold stocks weakened with investors cautious ahead of the Federal Reserve and Bank of Japan policy meetings that will conclude today.

“We could see a bounce in the gold stocks post-Fed commentary,” said BP Bernstein trader Vasili Tirasis.

Sibanye Anglo American Platinum Gold Gold

Bullion miner dropped 3.15 percent to R46.97, declined 2.52 percent to R66.52, fell 2.58 percent to was

Fields Harmony Gold

AngloGold Ashanti

R45.72 and 2.18 percent lower at R209.75.

(Amplats) was down 2.63 percent to end the session at R372.90. The National Union of Mineworkers declared a wage dispute with the world’s top platinum producer and a unit of Anglo American yesterday after negotiations deadlocked, setting the stage for a potential strike.

The union said in a statement it had rejected the latest offer of a 6.75 percent hike by Amplats less than half of the 14.5 percent it was seeking.