The JSE closes weaker amid global sentiment
Xinhua, June 14, 2016 Adjust font size:
The Johannesburg Stock Exchange (JSE) slipped to a three-week low at close on Monday, amid worries about the impending Brexit vote in the U.K., a drop in oil prices and cautiousness ahead of central-bank meetings in the U.S. and Japan drive selling of global equities.
The all-share index shed 1.25 percent to 52,511.52 points at the close of session on Monday.
Gold mining index was 4.12 down, after maintaining its highest level in almost three weeks.
The rand had weakened against its three major counterparts, trading at R15.06 to the US dollar, R17.00 to the euro and R21.48 to the British pound. Investors were risk averse ahead of the next US Federal Reserve meeting, as well as the Brexit referendum.
"Dollar strength and risk aversion threaten the rand," Rand Merchant Bank analyst John Cairns said in a note.
Among individual shares on the JSE, Anglo American shed 1.45 percent to R137.76, with AngloGold Ashanti slipping 3.84 percent to R248.59
Standard Bank lost 1.70 percent to R120.55, while Old Mutual dropped 1.94 percent to R38.34
MTN Group bucked the weaker trend, rallying 3.18 percent to R144.45 after reaching a deal with the Nigerian authorities over a fine that the mobile operator will pay for its failure to disconnect unregistered cellphone users in that country. Endit