Money SA economy
South African equities sold off in a gradual manner during the day on Friday, with most traders squaring positions and taking profits ahead of the weekend soccer festivities.
There was, however, a small burst of buying in the late afternoon in line with an improvement in the S&P 500 in the US, but that move petered out as the US markets soon reversed course to head into the red.
A local equities dealer said any improvement in the US markets overnight would be a key to a better start next week as local stocks looked very keen to follow the tack of their global counterparts.
The soccer world cup, which started this afternoon and led to skeleton staffing across the country, is a major reason for the profit taking.
The all share index retreated 1.05% on the day, with platinum counters in the red to the tune of 2.06% and golds by 0.72%. The resources index lost 1.56% and the banks index turned south by 1.29%; and financials by 1.16%. The industrial index lost 0.48% and the financial index was down by 1.16% by the close of play.
Dow Jones Newswires reports US stocks pared early losses to sneak into the black as health care counters gained ground. However, a fall in retail sales had discouraged investors.
On the JSE, diversified miner BHP Billiton led the charge as the highest value traded stock, but was down R1.93 at the close to R210.07. Anglo lost R7.73, or 2.62%, to R287.69 while Sasol lost R3.64, or 1.31%, to R274.25.
