South African markets closed in the red yesterday, weighed down by losses in insurance and banking sector stocks. Insurance companies, Old Mutual and Discovery dropped 4.1% and 1.6%, respectively. Lenders, Standard Bank Group, FirstRand, Capitec Bank Holdings and Nedbank Group declined 2.8%, 1.8%, 1.4% and 1.3%, respectively.
Retailers, Shoprite Holdings, Clicks Group, Cashbuild and Pick ‘n Pay Stores fell 2.3%, 1.2%, 0.9% and 0.7%, respectively.
On the flipside, platinum miners, Impala Platinum, Northam Platinum and Anglo American Platinum jumped 7.9%, 2.4% and 1.9%, respectively. Gold miners, Sibanye Stillwater, AngloGold Ashanti, Harmony Gold Mining and Gold Fields advanced 5.2%, 3.8%, 3.1% and 0.8%, respectively.