JSE plummets before close
Fri, 04 Jul 2008
The JSE plummeted before closing on Thursday amid a slump in mining and resources stocks. The stronger rand and worse-than-expected US jobs data contributed to the losses.
The JSE's all share index plummeted 3.11 percent and closed at 28 392.190 points.
The platinum mining index tumbled 6.78 percent, the gold mining index pulled back 2.96 percent while resources slumped 4.22 percent.
Banks retreated 2.23 percent, financials dropped 1.83 percent while industrials weakened 1.82 percent.
Among platinum stocks, Angloplat pulled back 2.94 percent to 1255 rand while Implats plummeted 9.60 percent to 268.50 rand.
Among gold counters, AngloGold Ashanti retreated 7.90 rand to 260 rand, Harmony eased 130 cents to 94 rand while Gold Fields shed four rand to 94 rand.
Resources giant, Anglo American lost 3.64 percent to 498 rand while rival BHP Billiton slumped 4.15 percent to 264.28 rand. Petrochemicals group Sasol withdrew 3.36 percent to 431 rand despite a soaring oil price.
Cellular group, MTN bucked the trend adding 1.69 percent to 120 rand but Telkom dropped 2.20 percent to 133 rand.
Luxury goods group Richemont slipped 35 cents to 41.80 rand while brewer SABMiller fell 3.29 percent to 169.58 rand.
Among banking stocks, Standard Bank tumbled 3.59 percent to 72.55 rand, Nedbank shed 0.78 percent to 88.80 rand, Absa slipped 0.49 percent to 81.10 rand while FirstRand declined 0.84 percent to 13.04 rand.
