Level par

The JSE (-0.4%) closed slightly lower on Friday on the back of profit taking, at the end of a week where every day was a new record high.

Gold stocks continued on their slippery slide with Harmony (-2.9%) and Gold Fields (-4.3%) still leading the way. Firstrand (-4.3%) was the bad boy in the financial sector, while MTN (2.2%) and Edcon (1.3%) provided some light at the end of the red tunnel.

The currencies took a time out after large swings during the week with only one or two cents being changed. Gold (-0.6%) and platinum (-1.0%) dimmed on Friday as the dollar regained some ground against the euro.

Markets in the US closed flat on Friday despite better than expected results from McDonald’s and Cintas, while economic data continue to support the markets. European markets closed mixed on Friday with the FTSE dropping 0.5% in contrast to the 0.3% rise recorded by the Frankfurt DAX.

The Nikkei is closed for Marine Day in Japan, while the Hang Seng is taking a breather this morning after the strong increases last week. The local market is expected to have a slow but steady start for the week, waiting for some data to give it direction.

Business Day:

* De Beers could pull the plug on Kimberley mine

* Aluminium prices set to shine

Business Report:

* Taxi subsidy to be phased in

* Mdladlana blames colleagues for SMME woes

Moneyweb:

* Johnnic’s Tsogo grip even weaker

* Unlimited, untimed calls

Sake-Beeld:

* Regering ‘moet sy neus hou’ uit prysbeleid

* Zim vra Anglo se hulp met ethanol-aanleg