Resources lead JSE slump

first_imgLocal marketsThe JSE shed 0.92% on Thursday as an oversupply of iron ore in China saw the value of local iron producers fall, dragging the resources sector down 2.19%.The rand lost ground against all major currencies to close the day at R10.64 to the US dollar, R17.60 to the British pound and Rx14.01to the euro.Renewed tensions in the Ukraine saw brent crude rise 0.07% as investors expressed concerns over increased risk of energy supplies.International marketsOn Asian markets, a stronger yen saw Japan’s Nikkei Index drop 0.48%, while China’s Shanghai Index continued yesterday’s losses, falling 0.62%, and Hong Kong’s Hang Seng Index lost 0.51%.European markets traded weaker on Thursday as investors considered valuations and increased geopolitical tensions. The German DAX closed 1.24% down, the French CAC40 dropped 0.6% and the English FTSE slipped 0.36%.American markets also faired worse after retailers reported poor earnings and violence in the Ukraine flared. The Dow Jones traded 0.3% weaker, the S&P 500 ended 0.21% lower and the Nasdaq fell 0.24%.Share price newsAfter investors sold 720,299 shares in 546 deals, Murray And Roberts Holdings (MUR) gained 3.59% to close at R26.25 a share, putting them on Thursday’s list of shares above R1 to gain the most over the day. Joining it was soft goods retailers Taste Holdings (TAS), which added 4.29% after 84 deals traded 263,136 shares resulting in a closing share price of R3.40. The company announced that it had raised R180 million for further growth declaration announcement in respect of the Taste rights offer.Amongst the top movers downwards of whose share prices are greater than R1 was Impala Platinum Holdings (IMP), which fell to R97.00 after 6,799 deals resulted in 3,633,310 shares swapping hands, sending the share price down 5.27%. The company released summarised consolidated annual results for the year ended 30 June 2014. After investors traded 2,484,364 shares in 3,838 deals, BHP Billiton (BIL) slid 2.92% to R334.00 a share. The company announced the cancellation of treasury shares.Sharenetlast_img

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