* Platinum shares hammered
* Naspers benefits from Tencent
* Top-40 down 0.22 percent
JOHANNESBURG, May 25 (Reuters) – South African stocks ended
a touch lower on Friday, after choppy trade driven by fears over
a potential Greek exit from the euro zone and as the
Johannesburg’s bourse halted “incorrect” trades by one of its
brokers.
The Top-40 index dropped more than 1 percent in
early trade, but recouped some of those losses to end 0.22
percent lower at 29,074.19. The All-Share was 0.16
percent softer at 32,992.25.
The Johannesburg Stock Exchange said during the
session it had been forced to halt some ‘incorrect’ trades by a
broker and would lower the session’s total value after the
close.
“It was an error on the part of the member not the JSE. It
was not a system failure,” said Michelle Joubert, head of
investor relations at the bourse. “The member is investigating
that and that is obviously something the JSE is looking at.”
Global markets, already skittish over a possible Greek exit
from the euro zone, were unnerved further by news that
Catalonia, Spain’s wealthiest autonomous region, was running out
of options for refinancing debt that comes due this year.
“Will they pull out of the euro zone, I don’t think so, not
any time soon,” said Sasha Naryshkine, a trader at Vestact.
Continued…
