20°C / 22°C
  • Thu
  • 16°C
  • 10°C
  • Fri
  • 18°C
  • 11°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 23°C
  • 15°C
  • Mon
  • 23°C
  • 15°C
  • Tue
  • 21°C
  • 15°C
  • Thu
  • 31°C
  • 13°C
  • Fri
  • 27°C
  • 17°C
  • Sat
  • 24°C
  • 17°C
  • Sun
  • 26°C
  • 16°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 26°C
  • 16°C
  • Thu
  • 16°C
  • 12°C
  • Fri
  • 20°C
  • 12°C
  • Sat
  • 21°C
  • 16°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 23°C
  • 16°C
  • Tue
  • 23°C
  • 16°C
  • Thu
  • 17°C
  • 11°C
  • Fri
  • 19°C
  • 12°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 25°C
  • 15°C
  • Mon
  • 24°C
  • 15°C
  • Tue
  • 22°C
  • 16°C
  • Thu
  • 22°C
  • 16°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 26°C
  • 17°C
  • Sun
  • 23°C
  • 20°C
  • Mon
  • 23°C
  • 19°C
  • Tue
  • 23°C
  • 18°C
  • Thu
  • 22°C
  • 13°C
  • Fri
  • 25°C
  • 15°C
  • Sat
  • 22°C
  • 17°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 21°C
  • 18°C
  • Tue
  • 21°C
  • 17°C
  • Thu
  • 35°C
  • 14°C
  • Fri
  • 33°C
  • 17°C
  • Sat
  • 32°C
  • 15°C
  • Sun
  • 33°C
  • 15°C
  • Mon
  • 33°C
  • 15°C
  • Tue
  • 32°C
  • 16°C
  • Thu
  • 27°C
  • 14°C
  • Fri
  • 25°C
  • 18°C
  • Sat
  • 25°C
  • 17°C
  • Sun
  • 26°C
  • 16°C
  • Mon
  • 27°C
  • 16°C
  • Tue
  • 27°C
  • 16°C
  • Thu
  • 17°C
  • 13°C
  • Fri
  • 20°C
  • 14°C
  • Sat
  • 22°C
  • 16°C
  • Sun
  • 25°C
  • 17°C
  • Mon
  • 25°C
  • 17°C
  • Tue
  • 23°C
  • 18°C
  • Thu
  • 20°C
  • 11°C
  • Fri
  • 23°C
  • 14°C
  • Sat
  • 19°C
  • 12°C
  • Sun
  • 25°C
  • 10°C
  • Mon
  • 27°C
  • 13°C
  • Tue
  • 28°C
  • 14°C
  • Thu
  • 16°C
  • 12°C
  • Fri
  • 25°C
  • 11°C
  • Sat
  • 27°C
  • 17°C
  • Sun
  • 22°C
  • 17°C
  • Mon
  • 21°C
  • 17°C
  • Tue
  • 23°C
  • 17°C
  • Thu
  • 25°C
  • 11°C
  • Fri
  • 28°C
  • 15°C
  • Sat
  • 22°C
  • 15°C
  • Sun
  • 22°C
  • 14°C
  • Mon
  • 22°C
  • 15°C
  • Tue
  • 23°C
  • 15°C

Stocks end lower, mining shares rise

Political tensions overseas weighed down on the JSE on Monday.

Political tensions overseas weighed down on the JSE on Monday. Picture: Supplied.

JOHANNESBURG - South African stocks edged lower on Monday in line with global peers as simmering political tensions in Ukraine weighed on appetite for risky assets.

But shares of mining firm Anglo American Platinum rose 4,69 percent to R478,74 after the company said it would sell its strike-hit and underperforming mines in Rustenburg.

Resource shares also benefited from higher commodity prices as investors sought protection against a drop in equities.

"The rand has strengthened a little bit so to see the mining shares holding up, it does look like there is buying coming in gold and platinum shares," said Ferdi Heyneke, portfolio manager at Afrifocus Securities.

A weaker rand normally boosts mining shares as the companies pay costs in rand but sell their output in dollars.

Gold producer AngloGold Ashanti rose 2,24 percent to R192,51, while Impala Platinum gained nearly two percent to R105,96.

But the JSE All-share index closed 0,53 percent lower at 51,420 and the blue-chip Top-40 index fell 0,6 percent to 46,279.

Losers on the day included Imperial Holdings which shed 2,5 percent to R189,41 and investment bank Investec which was down 2,3 percent.

Overall, 128 million shares changed hands, below last year's daily average of about 176 million shares. A total of 126 shares advanced, while 181 declined and 51 were unchanged.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus