Top Winners and Losers on the JSE Yesterday
Johannesburg–Sunburst Africa-The JSE closed 0.73 percent in the negative territory yesterday after trading in the negative territory for most of the day. Total volume traded was R15.8 billion.
Among the top losers were Remgro Ltd (JSE Code: REM) down 2.8 percent, Bidvest LTD (JSE Code: BVT) down 2.4 percent, Sasol Limited (JSE Code: SOL) down 2.3 percent, BHP Billiton PLC (JSE Code: BIL) down 2.0 percent and Anglo American plc (JSE Code: AGL) down 1.9 percent. Among top winners were Capital & Counties Prop pl (JSE Code: CCO) up 2.1 percent, Netcare Limited (JSE Code: NTC) up 1.3 percent, Steinhoff Int Hldgs Ltd (JSE Code: SHF) up 1.1 percent, Intu Properties plc (JSE Code: ITU) up 0.8 percent and Rand Merchant Ins Hldgs (JSE Code: RMI) up 0.6 percent.
|Top Gainers||Top Losers|
|*Only traded items. As at 03 Mar 03:01|
Some of the reasons for the poor market performance yesterday included news coming out of various companies. For example, investors did not like Bidvest’s announcement of its lowered ambition of a full takeover of Adcock Ingram following a sharp rise in the share price of the struggling drug-maker. Bidvest, currently owns 34.5% of Adcock, and has offered R52 per share to buy up to 100% of the group — a deal that would result in Adcock delisting from the JSE. However, news of Bidvest lowering its ambitions on the deal saw shares of Bidvest down 2.4 percent.
Globally, Wall Street traded higher as data pointed to lower inflation with consumer spending falling in January. The US Fed looks to have more flexibility with rates. The Dow traded in the green by +0.45%, while the S&P 500 traded +0.11% higher, and NASDAQ traded +0.55% up. Asian markets rose to a new 15 year high on a weak Yen and a rate cut in China. The Nikkei closed +0.15% higher, while the Hang Seng closed +0.26% up. European indices traded lower on Greek debt woes. The DAX traded lower by -0.33%, while the CAC 40 was lower by -1.03% and the FTSE 100 traded -0.29% lower. At local close Oil (Brent) traded lower by -2.80% at $60.83 while Gold traded higher by +0.02% at $1213.40. The dollar traded 0.15% stronger against the EURO at EUR/USD $1.1213. On the local front the All Share index closed lower by -0.63% and the rand traded 0.63% weaker against the dollar at R/USD 11.7325.
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