adminpercent lower to 39 853,89 points, with the top 40 index shedding 0,43 percent to 35 414,29 and banks losing 0,72 percent.
“On a technical basis, the market still looks overbought,” said Ferdi Heyneke, portfolio manager at Afrifocus Securities.
“The reality is setting in after some of the stocks were pushed up on expectations of higher earnings but disappointed on actual results,” Mr Heyneke said.
For the year to date, the all-share index is still up 1,5 percent. RMB analysts said in a note that the global focus yesterday would return to data, with German ZEW investor confidence figures due for release at midday and US existing home sales figures due in the afternoon.
Leading Asian markets were mixed, with Japan’s Nikkei closing 0,35 percent weaker while the Hong Kong Hang Seng Index was up 0,17 percent at 9.29am local time.
On the JSE, Anglo American was down 1,02 percent to R266,05, SABMiller fell 1,01 percent to R412,30 and Nedbank slipped 1,07 percent to R191,32 but short-term insurer Santam lifted 4,84 percent to R189,76.
RMB Holdings slipped 1,01 percent to R44,30. In retail Shoprite gave up 1,11 percent to R180. – BusinessDay.
leeroy
Online Reporter