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SU: JSE drops into the red
 
The JSE dropped into the red before close on Tuesday amid a rise in risk aversion which weighed on commodities and local mining counters.

The JSE's all-share index pulled back 1.46 percent and closed at 31 827.42 points.

The gold mining index retreated 0.79 percent, the platinum mining index lost 1.63 percent, while resources slumped 2.54 percent.

Banks and financials slipped 0.32 percent and 0.15 percent respectively, while industrials withdrew 0.94 percent.

Resources heavyweight Anglo American slumped 3.30 percent to 361.19 rand, while rival BHP Billiton tumbled 3.62 percent to 267.70 rand. Synthetics giant Sasol pulled back 3.39 rand to 383.60 rand.

Among gold counters, Anglogold Ashanti dropped 1.06 percent to 325.50 rand, Harmony eased 2.04 percent to 81.80 rand, while DRD Gold fell 1.17 percent to 3.39 rand.

Angloplat dropped 1.80 percent to 679.00 rand, Impala Platinum lost 1.36 percent to 198.25 rand, while Aquarius plunged 6.89 percent to 42.14 rand.

Royal Bafokeng Platinum earlier posted a net profit of R3.168-billion for the year ended December 2010 as opposed to a R123.4-million loss the previous year. Diluted earnings per share amounted to 2241 cents compared with a loss of 1072 cents previously.

Net revenue for the year increased by 82 percent to R2.107-billion, mainly as a result of a change in control and basis for accounting during 2010 and an actual increase in revenue of 29 percent at the Bafokeng Rasimone Platinum Mine.

The actual increase of 29 percent in business revenue resulted from metal prices and higher production volumes, partially reduced by a stronger rand/US dollar exchange rate. The group's share price eased 1.41 percent to 62.95 rand.

Diversified miner African Rainbow shed 5.51 rand or 2.52 percent to 213.50 rand and Exxaro slid 3.04 rand or 1.94 percent to 154.00 rand.

Among industrials, brewer SABMiller dropped 1.42 percent to 232.15 rand, while Richemont lost 1.29 percent lower at 40.47 rand.

Banking giant Standard Bank pulled back 1.44 percent to 97.75 rand, however FirstRand bucked the weaker trend adding 1.26 percent to 19.30 rand.
Source