JSE closes slightly higher in light-volume US holiday trade

The FTSE 100 is down 1.23% in 2018‚ after rising 7.63% in 2017.

However‚ Capicraft Investment Partners analyst Drikus Combrinck said the UK market may be presenting buying opportunities at present levels. “Most of the Brexit consequences have probably been priced in‚ with some second-tier companies looking attractive.”

These included property companies with a focus on the European market‚ he said. Some of these stocks had been heavily downgraded after Brexit‚ and offered value now.

The all share closed 0.19% higher at 57‚600 points and the top 40 rose 0.17%. Banks firmed 1.49%‚ financials 1.24%‚ the gold index 1.08% and property 0.17%. General retailers dropped 0.95% and resources 0.85%.

Glencore shed a further 1.28% to R57.79‚ after plummeting more than 8% on Tuesday. It has been served with a subpoena by the US department of justice in a broader money-laundering investigation.

Anglo American rose 2.21% to R303‚ while BHP fell 2.77% to R295.65.

Barclays Africa gained 1.96% to R166.97 and Capitec 2.43% to R873.75.

Steinhoff took a breather‚ after rocketing 31% on Tuesday‚ closing 2.22% lower at R1.76.

Intu Properties rose 2.6% to R33.17 and Capital & Counties 0.85% to R52.01.

Naspers was down 0.2% to R3‚408.


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