JSE off worst levels at midday as smidgen of calm returns to markets

11 January 2016 - 15:29 By Colleen Goko
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The JSE had recovered substantially at midday on Monday but remained weaker amid concerns about the Chinese economy.

Monday saw Chinese markets extend their terrible start to the year‚ losing further ground as investors abandoned ship.

A move by the People’s Bank of China on the day to guide the yuan higher seemed to have had its intended effect in calming global equity markets.

At 11.59‚ the all share was down 0.16% to 48‚029.40 points and the blue-chip top 40 index was flat.

Leading indices were mixed. The gold index led gains‚ up 4.95%‚ spurred on by stock-market volatility and risk aversion.

Resources added 1.23% and platinums rose 1.99%. Banks and financials shed 2.29% and 1.26% respectively. Industrials were down 0.13%.

European markets were mostly higher.

By noon (CAT)‚ the London FTSE 100 was up 0.16%‚ the Paris CAC 40 was down 1.11% and Germany’s DAX 30 had risen 0.58%.

Among individual shares on the JSE‚ Anglo American surged 2.81% to R56.77. Assore plunged 6.67% to R57.63. SABMiller rose 2.36% to R972.57.

Gold Fields rallied 6.51% to R52.55.

Barclays Africa lost 3.77% to R127.03.

PSG Group fell 3.41% to R188.33‚ while Clicks tumbled 4.91% to R81.30.

Reunert was down 4.89% to R63.96‚ and Reinet Investments climbed 3.83% to R32.02. Hulamin rallied 6.02% to R5.99.

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