“Gold shone with extreme intensity during the second quarter of 2019, rallying roughly 9% to levels not seen in more than six years, above $1435/oz. This was thanks to an environment that included ongoing global growth concerns, [problematic] geopolitics, trade tension and dollar weakness.” US markets were closed on Thursday for the Independence Day public holiday, this after the Dow reached a record high on Wednesday, while the S&P 500 came within five points of 3,000.
By 6pm on Thursday, the FTSE 100 and France’s CAC 40 were flat, while Germany’s DAX 30 had gained 0.11%. Earlier, the Shanghai Composite fell 0.33% and Hong Kong’s Hang Seng 0.21%, while Japan’s Nikkei gained 0.3%. The JSE all share fell 0.31% to 57,829 points and the top 40 0.41%. Resources relinquished 1.01%, the platinum index 1.54% and banks 0.32%. Among the latter, Absa fell 0.72% to R169.41, Standard Bank 0.57% to R191.54, and Nedbank 0.33% to R246.89, while FirstRand was flat at R65.94.
Platinum miners Royal Bafokeng fell 6.06% to R33.30, Anglo American Platinum 1.98% to R805.48, Northam 1.38% to R61.30, and Impala 0.79% to R73.21. said it had completed the acquisition of a 65% stake in LiebenLogistic,s and 51% of GLS Supply Chain Equipment. Comair gained 3.49% to R3.85, despite the commercial airline company saying earnings per share and headline earnings per share for the financial year ending June 2019 are expected to be more than 20% lower than the previous corresponding period. after the building and materials company said on Wednesday that it would not proceed with the R2.1bn acquisition of Australia-listed Universal Coal. It closed 5.81% higher at R35.50 after earlier reaching R36.50.
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