Zimpapers Logo

was 0,09 percent lower at 40 694,96 points; the gold and platinum indices lost 1,89 percent and 2,18 percent, respectively.

The platinum spot price fell 0,91 percent to US$1 692,50 an ounce, hurting platinum shares such as Impala Platinum (Implats), although losses in the counter were also due to its half-year results released on Thursday.

“The platinum price is retreating from a high base after a strong run this year,” Terrassen Capital Management director Nick Kunze said.

Since the start of the year, the price of the metal has gained as much as 11 percent in dollar terms.
“When it comes to platinum shares, there is a strong debate as to where to put the money in light of challenges such as higher operating costs in the sector,” Mr Kunze said.

The gold price maintained its recent downward spiral, losing 0,36 percent to trade at US$1 629,14 an ounce.

Global risk on Friday focused on the US‚ with a string of data on the agenda and the Group of 20 meeting in Russia, said RMB analysts in a note.

Elsewhere, major European stock market indices were mostly flat, while Dow futures pointed to a slightly weaker open on Wall Street later in the day.

Among individual shares on the JSE, Anglo American was up 2,35 percent at R281,80 in what traders attributed to better than expected full year earnings. Implats was down 3,55 percent to R155,28.

AngloGold Ashanti gave up 2,06 percent to R249,42, Gold Fields lost 2,35 percent to R88,14 and Harmony relinquished 3,36 percent to R62,09.
SABMiller shed 1,51 percent to R434,98, while Discovery gained 3,01 percent to R66,80. — BusinessDay.