The JSE ended the day flat as it concluded a relatively difficult week of trading.
The local bourse opened significantly lower but it managed to pair some of the earlier losses to end the day flat. Global markets were apprehensive on the back of the war of words between North Korea and the USA, as new fears surfaced of another possible North Korean missile launch. Gold rebounded slightly on the back of safe-haven buying, which resulted in some of the JSE listed gold miners finding some reprieve.
Sibanye-Stillwater (JSE:SGL) managed to close firmer as it broke a sharp downtrend that it has been on for the better part this week. The stock closed up 0.53% at R15.52 per share. AngloGold Ashanti (JSE:ANG) firmed to close the day up 2.57%. Health care stocks Aspen (JSE:APN) and Life Healthcare (JSE:LHC) jumped to end up amongst the top movers of the day as they closed the day up 2.76% and 1.28% respectively.
Retailers were relatively firmer with the exception of Pick n Pay (JSE:PIK) which came under significant pressure to close the day 3.99% weaker. Shoprite (JSE:SHP) and Woolworths (JSE:WHL) managed to close the day up 0.88% and 0.59% respectively. Diversified miners BHP Billiton (JSE:BIL) and Anglo American PLC (JSE:AGL) came under pressure on the back of weaker global metal prices as they shed 0.49% and 0.79% respectively.
The JSE All-Share Index eventually closed down 0.05%, whilst the blue chip Top-40 Index was up by 0.03%. The Resources Index shed 0.32% whilst the Industrials Index was down by 0.01%. The Financials Index benefitted from the firmer Rand as it ended the day up 0.37%.
Gold firmed on the back of safe-haven buying but it failed to break above $1300 per ounce to reach an intra-day high of $1298.79 per ounce. Despite showing signs of vulnerability earlier on, the US Dollar managed to bounce which resulted in Gold retracing slightly to trade at $1296.76 per ounce just after the JSE closed.
Platinum and Palladium were trading mostly flat, however JSE listed miners Anglo American Platinum (JSE:AMS) and Impala Platinum (JSE:IMP) came under pressure as they closed the day down 0.52% and 1.01% respectively. Platinum was trading at $936.28 per ounce whilst Palladium was recorded at $915.80 per ounce just after the JSE closed.
Brent Crude gained on the back of the news from Vienna, Austria where OPEC ministers are meeting. News of their continued commitment to the agreed production cuts saw Brent Crude peaking to $56.87 per barrel. Forecasts of rising demand on the back of Hurricane Harvey and Irma have also resulted in a bullish stance on Brent Crude over the past week. The precious liquid was trading $56.79 per barrel just after the JSE closed.