JSE slips into the red
27 November 2009
The JSE dropped into the red before close on Thursday. Despite a quiet day, with Wall Street closed for the USA's Thanksgiving holiday, news of a potential massive debt default in Dubai knocked global markets.
The JSE's all share index dropped 1.69 percent and closed at 27 025.61 points.
The gold mining index bucked the weaker trend adding 0.87 percent, however the platinum mining index lost 0.87 percent, while resources retreated 1.87 percent.
Banks and financials pulled back 1.69 percent and 1.74 percent respectively, while industrials eased 1.46 percent.
Among the gold counters, Gold Fields rose 1.45 percent to 111.60 rand, while Harmony jumped 3.06 percent to 83.99.
Platinum giant Angloplat eased 1.07 percent to 746.50 rand.
Resources heavyweight BHP Billiton said it planned to invest about $10-billion in capital and exploration expenditure during the 2010 financial year. The group's share price lost 2.48 percent to 228.90 rand.
Anglo slumped 3.04 percent to 318.99 rand, while synthetics giant Sasol eased 1.66 percent to 297 rand.
Junior gold miner Simmer & Jack Mines said it had launched a High Court application seeking to stop Xelexwa Investment Holdings and its joint provisional liquidators from convening a meeting to remove the directors of its company. Xelexwa is the company through which Simmer's black economic empowerment partner Vulisango Holdings held its Simmers shares. Simmer slipped seven cents to 1.83 rand.
Kumba Iron Ore tumbled 3.84 percent to 255 rand, while Exxaro slumped 2.92 percent to 93.49.
Coal logistics company Wescoal said it expected its headline earnings per share to decrease by between 60 percent and 75 percent in the six months to the end of September 2009. The company said its earnings per share are expected to decrease by between 40 percent and 55 percent. The group's share price shed seven cents to 74 cents.
Among industrials, brewer SABMiller lost two rand to 218 rand, Bidvest eased 1.48 percent to 117 rand, Barloworld dropped 3.87 percent to 48.50 rand, and British American Tobacco pulled back 1.53 percent to 231 rand.
Construction giant Murray and Roberts plunged 4.71 percent to 48.60 rand.
Banking giant Absa tumbled 2.66 percent to 124.20 rand.
