JSE Falls 1.33% as Mining Shares Weigh on Market; Banking, Property and African Finance Shifts in Focus
South African equities closed sharply lower on Friday as broad-based losses in mining shares dragged the market down, reflecting weaker commodity prices and sustained selling throughout the session.
The FTSE/JSE All Share Index declined 1.33% to 120,584, failing to recover from an early drop and ending near the lower end of its trading range. While resource counters bore the brunt of the decline, banking stocks showed resilience, and healthcare shares advanced.
Beyond the trading floor, developments in vehicle crime trends, housing reform and structural changes in Africa’s banking sector point to wider economic shifts underway.
Mining Sector Leads the Decline
The FTSE/JSE All Share Index opened at 120,851, significantly below the previous close of 122,213, and traded between 119,906 and 121,436 during the day. The index remained under pressure from the outset and did not mount a meaningful recovery, indicating sustained selling rather than a short-lived pullback.
The Resource 10 index fell 2.42%, making it the weakest major segment. AngloGold Ashanti declined 3.06%, Gold Fields dropped 2.49%, BHP lost 2.27%, and Impala Platinum fell more than 5%. Given the heavy weighting of resource stocks in the index, the sector’s weakness had a pronounced impact on overall performance.
The decline in mining shares coincided with softer commodity prices. Gold eased 1.32% to $4,975 per ounce, while silver, platinum and palladium also recorded losses. Resource companies are directly exposed to fluctuations in global metal prices, and movements in commodity markets often translate quickly into share price adjustments.
Healthcare Advances as Defensive Stocks Gain
In contrast to the weakness in mining counters, healthcare stocks recorded strong gains. The pharmaceuticals and biotechnology segment rose 6.43%, emerging as the best-performing area of the market.
Aspen Pharmacare gained 6.43%, while hospital groups Netcare and Life Healthcare also closed higher. The sector’s performance provided partial support to the broader index during an otherwise negative trading session.
Financial Shares Show Relative Stability
Financial stocks proved more resilient than the overall market. The Financial 15 index declined 0.75%, less than the All Share Index and significantly less than the resource sector.
Trading volumes were concentrated in large-cap shares, including AngloGold Ashanti, Gold Fields, Naspers and FirstRand, indicating active participation by institutional investors.
The rand traded at R15.93 against the US dollar, marginally stronger on the day. A firmer currency can moderate imported inflation but may weigh on exporters and companies that generate revenue in foreign currencies.
Despite Friday’s losses, the broader trend remains positive. The All Share Index is up 18.28% year to date and 7.69% over the past six months. Over three years, it has gained nearly 36%, underscoring the strength of its medium- to long-term performance.
Discontinued Nissan Models Remain Hijacking Targets
Security experts have warned that two discontinued vehicles, the Nissan Almera and the Nissan NP200, remain among the most frequently targeted models in South Africa in 2026.
The Japanese automaker Nissan introduced the Almera locally in 2001, with a third-generation model launched in 2013.
The sedan built a reputation for affordability, generous interior space and reliability, gaining popularity among fleet operators, rental companies, and budget-conscious buyers. Although the model has since been discontinued as consumer demand shifted towards SUVs and crossovers, it remains widely available on the domestic market.
According to Fidelity Services Group, hijacking trends are expected to follow a cyclical pattern similar to 2025. Incidents typically decline at the beginning of the year before rising as economic activity increases.
High sales volumes and ongoing demand for spare parts contribute to the continued targeting of these vehicles. The NP200 bakkie, also discontinued, has similarly remained in the crosshairs of criminal syndicates.
Vehicle tracking firm Cartrack has reported increased theft of components such as wheels, tyres, tailgates, batteries and airbags, reflecting demand within illicit resale networks.
Housing and Infrastructure Commitments Highlighted in Sona
In the recent State of the Nation Address, President Cyril Ramaphosa reaffirmed the government’s commitment to infrastructure investment and housing reform.
Among the proposals is the establishment of a State Property Company aimed at unlocking underutilised public land and buildings to support urban regeneration and public-private partnerships.
The address also emphasised the importance of transport, water and energy infrastructure in supporting economic growth and housing delivery.
Stephan Potgieter, chief executive of BetterBond, said the shift from state-built housing towards subsidy-supported private ownership and rental could expand access to the property market, particularly for first-time buyers. He highlighted water and sanitation investment as critical to sustaining new housing developments and maintaining investor confidence.
Yael Geffen, chief executive of Lew Geffen Sotheby’s International Realty, noted that many of the themes raised in the address — including infrastructure reform, unemployment reduction and tackling corruption — have been consistent in recent years.
African Banking Landscape Reshaped
Barclays completed its exit from much of Africa through the sale of its remaining stake in Absa. Standard Chartered has divested several retail and wealth operations across multiple markets, citing strategic realignment.
In contrast, African banks have expanded their presence. Absa Group, FirstRand and Nigeria’s Access Bank have acquired assets in various countries, increasing their regional reach.
The transactions mark a shift in the ownership structure of the continent’s financial sector, with locally headquartered institutions playing a larger role in cross-border banking activity.
Notice and Disclaimer
This article is provided for general information and educational purposes only and does not constitute financial advice as defined by the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act). The content should not be relied upon as a basis for making any investment decisions.
Please consult with a licensed financial advisor to determine if such investments are appropriate for your individual circumstances.
Everest Wealth Management (Pty) Ltd is an authorised Financial Services Provider (FSP 795) and a registered credit provider NCRCP 21504.