Local news also provided some eye-catching activity on the day.
The all share fell 0.66% to 55,488.8 points and the top 40 lost 0.87%. Industrials lost 0.99% and the resources index 1.17%. Gold miners gained 3.08%, general retailers 1.48%, platinums 1.13% and banks 0.75%.International economic news was downbeat. US nonfarm payrolls data came in well below expectations, with employers adding just 20,000 jobs in February, while the market had expected 180,000. This is, however, the 101st straight months of jobs growth in the world’s largest economy.
Locally, both President Cyril Ramaphosa’s reiteration of the ANC’s plans to nationalise the Reserve Bank, as well as news of electricity tariff increases that are well above inflation, also served as headwinds for the local currency, analysts said.
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