SA stocks trim best week since June; Richemont gains

A general view of Johannesburg Stock Exchange (JSE) precinct. 
Photo: Gallo Images/Sydney Seshibedi
A general view of Johannesburg Stock Exchange (JSE) precinct. Photo: Gallo Images/Sydney Seshibedi

South Africa’s main stock index is 0.2% lower as of 10:08 a.m. in Johannesburg, as banking shares take a breather from their recent rally to decline for the first day in six. The benchmark index has advanced 3.7% this week, set for the strongest performance since early June.

Global luxury retailer and market heavyweight Richemont is among the biggest contributors to this week’s gains, climbing 1.3% on Friday after a 5.9% jump in the previous session. Richemont has attracted some M&A speculation in the wake of the collapse of LVMH’s proposed acquisition of Tiffany.

  • Naspers Ltd., with a 18% weighting in the index, rises for a third day, up 1.6% to a one-week high, as the recovery in tech stocks lifts partly owned Tencent Holdings in Hong Kong.
  • Stronger rand lifts food and drug retailers by 1.5%, while general retailers advance 0.2%
  • Bid Corp Ltd. +1.8%, Shoprite Holdings Ltd. +2%, Clicks Group Ltd. +0.9%, Spar Group Ltd. +1.1%, Dis-Chem Pharmacies Ltd. +1.1%.
  • Foschini Group Ltd. +0.6%, Truworths International Ltd. +1%, Italtile Ltd. +0.6%, Massmart Holdings Ltd. +0.6%.
  • Anglo American Plc rises 0.2% after subsidiary De Beers says it sees recovery in diamond demand.
  • Gauge of mining stocks down 0.1% amid weakness in gold and platinum stocks.
  • Sub-index for gold stocks falls for the first day in three, down 1%; while platinum producers retreat 0.4%.
  • AngloGold Ashanti Ltd. -1.4%, Gold Fields Ltd. -1%, Sibanye Stillwater Ltd. -1.5%, Harmony Gold Mining Co. -2.3%, BHP Plc -0.1%, Anglo American Platinum Ltd. -0.2%, DRDGold Ltd. -1.2%, Impala PLatinum Holdings Ltd. -0.2%.
  • Index of banks stocks snaps five days of gains to fall 2.9%.
  • FirstRand Ltd. -3.1%, Standard Bank Group Ltd. -2.2%, Capitec Bank Holdings Ltd. -2.9%, Absa Group Ltd. -2.7%, Nedbank Group Ltd. -3%, Investec Plc -1.7%.
  • Foreigners were net buyers of South African stocks for a second day Thursday, purchasing 1.4b rand worth of shares, according to bourse operator JSE Ltd.
ZAR/USD
17.12
(-1.38)
ZAR/GBP
21.80
(-1.08)
ZAR/EUR
19.90
(-0.91)
ZAR/AUD
12.02
(-0.89)
ZAR/JPY
0.16
(-1.15)
Gold
1859.50
(-0.35)
Silver
22.86
(-1.35)
Platinum
847.00
(+0.12)
Brent Crude
42.26
(+0.47)
Palladium
2217.00
(-0.05)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
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