JSE flat as gold miners lose ground but banks rise

Gold miners looked set to snap a four-session losing streak on Wednesday, but banks were a little firmer, in line with the rand.

At 9.20am the all share was flat at 58,379.3 points, while the top 40 was up 0.15%. Gold miners were down 2.72%, while banks had added 0.61%.

Gold was 1.1% lower at $1,407.71/oz while oil had risen 0.44% to $66.09 a barrel.

Oil has pushed higher amid tension in the Middle East, as well as data showing declining inventories in the US. Last week, Iran shot down a US drone, prompting the White House to implement new sanctions against Tehran.

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Source: businesslive.co.za