Johannesburg Stock Exchange equities ended June in negative territory over the six-month period, dragged down by falling precious metal mining group prices, following lower prices for the commodities.
The JSE fell for a second consecutive month in June, dragged down by the share prices of precious metals miners, which cost the FTSE/JSE Capped All Share Index some 4.5% of performance for the month, said Anchor Capital’s fund manager Peter Little.
He said in a note on Monday that the index had closed 3,7% lower into the month, dragging it into negative territory at the midpoint of 2026, or -2,8% year-to-date.
The gold price fell 12% month on month (MoM), pushing it back towards $4,000/oz, down 25% from its January high. The plunging gold price dragged the miners down (-15% MoM), while platinum miners fared even worse (-23% MoM), with the platinum price falling 19% MoM, having shed a quarter of its value year-to-date (YTD), said Little.
Herman van Papendorp, head of asset allocation at Momentum Investments, said in a statement that although the local financial and industrial companies generated positive returns in the second quarter, the gains were insufficient to offset losses in the resources sector, resulting in negative overall returns for the SA equity market in the period.
