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JSE scraps gold, platinum indexes

These changes took effect at the start of business on March 23.
Image: Moneyweb

The Johannesburg Stock Exchange (JSE) has discontinued some major market indices, including the closely watched gold index, to reflect the change in prominence of some companies and sectors in the economy, it said on Tuesday.

The JSE Ltd follows international standards of classification of sectors and it modified some indexes to reflect a more realistic and detailed evolution across sectors, JSE said in an emailed response to Reuters.

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Under the modified index, it has decommissioned gold and platinum indexes and has moved all of them, including diamond mining companies, under a new sector classification called precious metals and mining.

JSE did not say under which index gold companies will be tracked.

South Africa was once the world’s biggest gold producer, but decades of mining have depleted reserves and the industry has consolidated into three major players, reducing its impact on the overall economy, analysts said.

The coal index, which was previously classed under the basic materials industry, is now under the energy industry, while general retailers are categorised under two separate sectors of consumer services index and retailers index.

These changes took effect at the start of business on March 23.


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The sad thing about April fools day in SA is that most of them are actually real.

How stupid can the JSE get? Gold and Platinum were the best performers in the last year, and not by 10% or 5%, but 100% or 1000%

Look at Impala, went from R27 to R260, Sibanye from R16 to R60
And I’m not even a Fund Manager

It slid up 2% by $34 today

Not many counter left on the JSE and it goes without saying an index needs numerous counters.

Its just further evidence of the slow but determined suffocation of business in general is SA by this corrupt anc government.

If it was not for things like REG 28 there would have been very little left.

”I am not arguing with you – I am telling you”

James McNeill Whistler American painter (1834-1903)

Haha – the ”JSE did not say under which index gold companies will be tracked”? – methinks it will be tracked under the ANC’s ”Radical Mining Empowerment Index”!

The good news is that they will add corruption and mismanagement indexes which will help greatly to promote these activities.

I’m old enough to remember the days when an index used to mean something, prior to the FTSE involvement.

There are currently 442-odd listed shares on the JSE with 122-odd indices.

How does this make sense?

End of comments.



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