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SU: JSE ends week in the red
 
The JSE was unable to hold onto its gains before close on Friday, despite positive US GDP data and optimistic comments on the US recovery by Fed Chairman Ben Bernanke.

Federal Reserve Chairman Ben Bernanke said earlier that he was ready to do what it takes to support an economic recovery.

The JSE's all share index slipped 0.50 percent and closed at 26 738.91 points.

The gold mining index eased 0.46 percent, resources pulled back 1.20 percent, while the platinum mining index slumped 2.21 percent.

Banks and financials shed 0.51 percent and 0.07 percent respectively, while industrials inched down 0.07 percent.

Among gold counters, AngloGold Ashanti dropped 1.22 percent to 310.00 rand, while Harmony shed 46 cents to 74.99 rand.

Resources heavyweight, BHP Billiton pulled back 1.36 percent to 202.00 rand. Synthetics giant, Sasol withdrew 1.02 rand to 277.00 rand.

Meanwhile, Anglo American earlier confirmed that it is challenging the Department of Mineral Resources in court over the award of prospecting rights to a third party over some of its coal properties. The group's share price retreated 1.32 percent to 258.80 rand.

Among platinum miners, Impala Platinum dropped 2.54 percent to 172.50 rand, while Anglo Platinum slumped 1.94 percent to 618.00 rand.

African Rainbow and its 50:50 strategic joint venture partner Vale S.A., owners of Konnoco Zambia, earlier announced the release of the Konkola North Copper Mine in Zambia. Total project capital expenditure, in July 2010 terms, is US$380-million. Construction commenced in August 2010 with commissioning of the concentrator plant expected 27 months later. The mine is planned to reach full production in 2015.

Diversified miner Exxaro shed 54 cents to 110.46 rand, while African Rainbow tumbled 2.68 percent to 147.90 rand.

Steel giant, ArcelorMittal fell 1.12 percent to 81.89 rand.

Among industrials, brewer SABMiller pulled back 1.59 percent to 207.50 rand, while British American Tobacco edged down 81 cents to 251.56 rand.

Banking giant, Standard Bank eased 46 cents to 101.54 rand, Absa shed 50 cents to 123.00 rand, while Nedbank slipped 40 cents to 138.20 rand.

Source