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MARKET WRAP: JSE edges higher despite slip by banks

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Banks led the losses on the day, while general retailers and financial stocks were also under some pressure, despite a firmer rand.

The all share added 0.17% to 55,580.7 points and the top 40 0.31%. Gold miners lost 3.39%, banks 1.17% and financials 1.28%. Industrials added 0.84%.AVI added 1.43% to R91.99, despite reporting headline earnings for the six months to end-December 2018 fell 5.6% to R1.06bn, compared to the matching period in 2017.

FirstRand gave up 1.27% to R62.12, ahead of its results to end-December on Tuesday. The bank said in February that it expected basic headline earnings per share to be between 22% and 24% higher than the prior comparative period. Tongaat Hulett plunged 19.32% to R17.75, extending Friday's 28.34% slide, which was prompted by news it had discovered irregularities in its accounts, and might need to restate prior results.

Gold was down 0.48% at $1,292.50/oz and platinum 0.84% to $810.34. Brent crude was 0.96% higher at $66.28 a barrel.

 

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