The JSE weakened on Thursday, in line with global markets.

The 30th anniversary of "Black Monday" seems to still be in memory, with Dow futures down 134 points as stocks pull back from record highs. Dow -0.6%; S&P 500 -0.6%; Nasdaq -0.8%

U.S. equities fell on Thursday following a record-setting session in which the Dow Jones industrial average closed above 23,000 for the first time.

The rand gained against the greenback, and traded at R13.53 at the close of the JSE.

The local bourse trimmed 0.44% to 57896 for the All Share, while the blue-chip Top40 slipped 0.67% with most sectors, barring gold, in the red.  The fall in markets was dragged by industrials. 

moving -.58%, followed by Resources -0.36%, and Financials -0.26%.  Gold was able to remain positive and gained 1.39%.

AngloGold [JSE:ANG] climbed 3.17% to R128.45 after news emerged that the company is looking to offload several mines in South Africa to cut losses. 

The world’s third-largest gold miner will sell Moab Khotsong, which incorporates the Great Noligwa mine, to Harmony Gold for about $300m and Kopanang to Chinese investment firm ‘Heaven-Sent SA Sunshine Investment’ for R100m, the Johannesburg-based company said in a statement on Thursday.  Harmony [JSE:HAR] reacted negatively and fell 3.1% to R22.68 on the news.

Woolworths [JSE:WHL] fell 3.2% to R57.96 as news that South Africa’s biggest investor, the Public Investment Corporation (PIC), lowered its stake in Woolworths to 14.994%

Gold prices gained 0.57% to $1288/Oz, while the price of Brent Crude fell 1.24% to $57.43/bbl

In the US, narrowing his search to five finalists, President Trump will meet today with Janet Yellen, whose first term expires in February, in his search for the next Fed Chair. Other candidates include Fed Governor Jerome Powell, former Fed Governor Kevin Warsh, National Economic Council Director Gary Cohn and Stanford University economist John Taylor. Trump is expected to decide before his tour of Asia, which begins Nov. 3