Only miners shine as JSE dips

PREMIUM


The JSE closed lower on Wednesday, with only platinum and gold miners showing a few signs of life, amid caution on some global markets.US corporate earnings on Tuesday pushed American markets to record highs, but domestic equities were under pressure from a firmer dollar.The dollar has reached a sixweek high against the euro, pulling SA miners lower.SA miners benefit from the increased demand for commodities that generally come from a weaker greenback.The all share gave back 0.74% to 59,102.7 points and the top 40 fell 0.75%.Banks lost 2.01%, financial stocks 1.44%, resources 1.16% and food and drug retailers 2.5%.Gold and platinum miners gained 0.42% and 0.21%.Anglo American lost 2.94% to R387.95. Earlier, JP Morgan reclassified the diversified miner’s stock as neutral, from overweight previously.Gold Fields rose 1.1% to R52.44 and Impala Platinum 1.21% to R63.61Sasol gave back 1.47% to R480.34, after surging 4.21% on Tuesday.Standard Bank slipped 2.19% to R195.13.MTN slumped 2.4% to R102.25 and Vodacom 4.29% to R115.86.

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