The JSE was weaker in quiet trade at midday with only the
platinum and gold indices in positive territory as precious metal
prices rose.
After weakening more than 1% in early trade, the all share was off 0.77% at 50,629.80 points just after midday.
Food and drug retailers were 1.58% lower and industrials 1.12%. General retailers shed 0.85%, while the gold index rose 2.23% and platinums were up 0.91%.
The platinum price had gained 1.9% to $943.14 an ounce while gold was up 0.56% to $1,165.23.
The stronger rand failed to lift banking and retail shares. Property regained some of its earlier losses.
European markets were mostly slightly lower.
Naspers fell 1.52% to R2,003.75 and Sasol 0.50% to R404.55.
Woolworths lost 1.17% to R71, Shoprite 2.05% to R169.40 and Steinhoff 1.91% to R70. According to retail tycoon Christo Wiese’s plan unveiled last year, Shoprite is to merge with Steinhoff’s African interests this year. This would probably put Shoprite under Steinhoff shareholder control.
Shoprite gained 19.68% in 2016, but Steinhoff lost 9.2%.
In the property sector, Redefine was down 1.83% to R11.29.
Brait dropped 3.12% to R84.15 after losing 47.5% in 2016.
by
After weakening more than 1% in early trade, the all share was off 0.77% at 50,629.80 points just after midday.
Food and drug retailers were 1.58% lower and industrials 1.12%. General retailers shed 0.85%, while the gold index rose 2.23% and platinums were up 0.91%.
The platinum price had gained 1.9% to $943.14 an ounce while gold was up 0.56% to $1,165.23.
The stronger rand failed to lift banking and retail shares. Property regained some of its earlier losses.
European markets were mostly slightly lower.
Naspers fell 1.52% to R2,003.75 and Sasol 0.50% to R404.55.
Woolworths lost 1.17% to R71, Shoprite 2.05% to R169.40 and Steinhoff 1.91% to R70. According to retail tycoon Christo Wiese’s plan unveiled last year, Shoprite is to merge with Steinhoff’s African interests this year. This would probably put Shoprite under Steinhoff shareholder control.
Shoprite gained 19.68% in 2016, but Steinhoff lost 9.2%.
In the property sector, Redefine was down 1.83% to R11.29.
Brait dropped 3.12% to R84.15 after losing 47.5% in 2016.
by
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