The JSE changed course from tracking gains in global markets to end the day modestly in the red. This despite receiving a hero delivery with gains in Naspers and Prosus after German delivery app Delivery Hero, in which the duo hold a 27.4% stake, bought an 8% shareholding in grocery delivery company Gorillas. The transaction would raise the company’s valuation to roughly $3 billion after the deal closes, reports Bloomberg.
Tipping the scales to reverse gains for a negative 0.02% close in the All Share index to 66,776.15 points were energy counters Sasol (-3.89%) and Montauk (-3.09%), mining stocks Glencore (-4.11%) and South23 (-2.85%) and mobile operators MTN (-2.34%) and Telkom (-2.01%).
Retailers had a mixed showing, with TFG (+3.96%), Truworths (+2.25%) and Pepkor (+0.95%) gaining, while Steinhoff (-4.82%) and Mr Price (-0.24%) lost ground. Healthcare stocks were also pulling at opposite ends, with Netcare (+0.24%) and Life Healthcare (+1.52%) rising, while Mediclinic suffered a 2.21% loss.
On the commodities front, the metals traded on the front foot, with palladium up over 3%, platinum up over 2% and gold up almost 1%. Brent Crude, still firmly at recent highs, was hovering below $85 a barrel.
In the forex market, the rand hit its strongest level in over a month, touching R14.50 against the US dollar as the greenback continued to give way against the euro. The local unit was last changing hands at R14.51/$.
Indicators as at 17:00
Currencies
USDZAR 14.5372
EURUSD 1.1643
EURZAR 16.9205
GBPUSD 1.3797
GBPZAR 20.0509
AUDZAR 10.8647
CADZAR 11.7608
CNYZAR 2.2771
ZARJPY 7.8585
CHFZAR 15.7759
USDAOA 598.00
Bonds and equities
R186 7.94%
US 10 Year 1.62%
JSE -0.16%
FTSE 0.02%
S&P 500 0.50%
Commodities
Gold $1 772.41
Plat $1 038.01
Plad $2 095.46
Rhod $13 990.00
Irid $4 590.00
Ruth $628.00
Copp $10 651.35
Brent $84.46
Iron Ore 62.5% $123.40
Coal API4 $245.75
Gold ZAR R25 767.47
Plat ZAR R15 090.69
