JSE index falls 1.72% as Naspers, Richemont, BHP, Anglo American’s stocks retreat
Naspers share price, with a 14 percent weighting on the benchmark index, declined 2.65 percent to R2 385.03, while Richemont, the luxury goods producer, fell 2.232 percent to R109.87.
Mining houses BHP took a 2.01 percent hit to R325.97 and Anglo American declined 1.66 percent to R345.78. The four companies make up at least 36 percent of the index.
The index of bank stocks also fell for the third day by 1.62 percent on Monday as South African banks are bracing for the biggest workers’ strike in 99 years. The banks index also fell as emerging-market currencies weakened while investors monitor the latest developments in trade talks.
According to the JSE, foreign investors were net sellers of South Africa stocks for the fourth day on Friday, disposing of R3.28 billion worth of shares.
Source: iol.co.za