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MARKET WRAP: JSE remains flat as miners gain and banks fall

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Naspers fell 4% after unbundling MultiChoice, which largely offset its parents losses, but a softer dollar overnight supported local miners

The JSE fell on Wednesday, with Naspers posting a sharp drop following the separate listing of its pay-TV service.Naspers fell 3.98% to R3,017, giving up about R53bn of its market capitalisation.

The all share rose 0.1% to 56,298 points while the top 40 fell 0.02%. Banks lost 0.87% and industrials 0.23%. Platinums added 1.8% and the resources index 1.34%. Economic news expected to be released on Thursday includes producer inflation, as measured by the annual change in the producer price index. PPI is expected to rise 5% in January, according to a consensus on macroeconomics website Trading Economics.

 

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