SOUTH African stocks ended in the red yesterday as global volatility continued to keep investors guessing.
A trader did, however, say that the weaker rand had possibly cushioned the local bourse from falling deeper into the red. By 5pm, the JSE all share index had edged down 0,30%, resources, were flat, down 0,07%, gold counters gave up 1,96% and platinum counters were off 1,09%.
Banks edged up 0,51% but financials weakened 0,73% and industrials eased 0,36%.
“We had a really frustrating and volatile session today,” the trader said. “The 700 level on the S&P is very important. We will have to watch this level. If we continue to trade below this level, the market will continue to fall further.
“We will watch this US session with bated breath to see whether markets can possibly recover or if they will continue to fall further,” he said.
“The rand has weakened slightly and it is possible that it has cushioned us,” he said.
Back in Johannesburg, Anglo American (AGL) eased 73c to R147,50, but BHP Billiton (BHP) was up R1,39 to R166,40.
Petrochemicals group Sasol (SOL) firmed 1,93% to R264.
Paper group Sappi (SAP) collected 6,62% to R14,50 and rival Mondi (MND) added 5,22% to R24,20. ArcelorMittal (ACL) gave up 1,65% to R71,50 and Kumba Iron Ore (KIO) weakened 2,64% to R166.
Among gold miners, AngloGold Ashanti (ANG) gave up 2,28% to R300 and Harmony (HAR) lost 4,66% to R112,50, but Gold Fields (GFI) edged up 10c to R103,70. Platinum miner Anglo Platinum (AMS) was up 3,70% to R420, but Impala Platinum (IMP) was off 3,35% to R128,54. African Rainbow (ARI) was up 1,65% to R110,80, but Exxaro (EXX) lost 1,64% to R66.
Among industrials, brewer SABMiller (SAB) added 4,11% to R143,99, Imperial (IPL) was up 4,14% to R45 and British American Tobacco (BTI) strengthened 4,71% to R249,21. However, Barloworld (BAW) weakened 6,45% to R29, Remgro (REM) gave up 2,85% to R64,80 and Tiger Brands (TBS) fell 3,38% to R125,60.
Banker Standard Bank (SBK) was up 3,72% to R62,39.
Nedbank (NED) lost 2,57% to R71,03, Absa (ASA) was off 3,08% to R81,90 and FirstRand (FSR) gave up 1,72% to R11,40.
Financial services group Old Mutual (OML) weakened 8,44% to R5,10 and Investec (INL) lost 2,43% to R28,10. Sanlam (SLM) edged down 12c to R14,60.
Sugar group Illovo (ILV) was up 1,60% to R25,40 and Tongaat-Hulett (TON) added 1,48% to R75,50. Media group Naspers (NPN) was down 1,68% to R146,50, but Avusa (AVU) was up 1,12% to R13,50 and Kagiso Media (KGM) gained 8,57% to R11,40. Retailer Woolies (WHL) was off 4,84% to R11,20, Truworths (TRU) weakened 3,69% to R28,97, Massmart (MSM) lost 4,30% to R63, Foschini (FOS) shed 4,06% to R37,85 and Mr Price (MPC) was down 5,36% to R22,24.
However, JD Group (JDG) was up 4,32% to R28,50 and Steinhoff (SHF) gained 5,57% to R9,86. Packaging group Nampak (NPK) firmed 2,56% to R12,82. Pharmaceutical manufacturer Aspen Holdings (APN) was barely changed, down 1c at R41.
Construction group Aveng (AEG) weakened 2,42% to R26,25 and Basil Read (BSR) lost 2,55% to R11,45. Cement manufacturer Pretoria Portland Cement (PPC) was down 5,31% to R28,17. Telecommunications group MTN Group (MTN) gave up 2,29% to R85,01 and Telkom (TKG) was off 49c to R98,20.
South African near-dated futures lost steam yesterday as the Dow continued the pain for emerging markets with a poor start, and risk aversion set in once more.
The near-dated Alsi contract ended 205 points, or 1,23%, lower at 16500. A total of 42603 Alsi contracts changed hands compared with 66076 on Wednesday, a Safex official said. I-Net Bridge
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