The JSE was lower today on profit taking and the pull back in markets overseas, especially the East. There is no change in the fundamentals.
More Quotes from Ferdi Heyneke:
Impala is higher ahead of expected good results due in February, gains in other platinum stocks and the higher platinum price, coupled with the weaker rand.Ferdi Heyneke
Local equity markets have run very hard, especially among the banks, financials, industrials and retailers since the start of the year. These stocks have been overbought and market players were today banking some profits. The JSE is off its worst levels, so there is support for the market.
Ferdi Heyneke
I think it got ahead of itself especially gold and platinum stocks and profit taking was not unexpected.
Ferdi Heyneke
I think we are taking after the markets in Europe, most of them are down today. I think the guys are just taking profits on banks because there's still good news especially with credit demand figures this morning.
Ferdi Heyneke
With this gold price heading towards 600, positive sentiment is driving the sector.
Ferdi Heyneke
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