JSE slips 0.75% as Sibanye and banks drive the session

The JSE All Share fell 0.75% to 110325.45 on July 7, while the Top 40 dropped 0.76% to 102013.15. Sibanye-Stillwater dominated headlines with a $500 million bond issuance, 7 primary platinum group metals mining projects under development, and the appointment of a new head of investor relations, according to A&O Shearman, Mining Weekly and African Mining Online. In banking, South Africa's top court on June 30 upheld a favorable outcome for Absa, FirstRand, Nedbank and Standard Bank in the rand-manipulation case, while Absa shares also came under pressure after it flagged only modest earnings growth, according to Business Day, businesstech.co.za and IOL. On listings, CANAL+ became the 1st French company to list on the JSE, IOL reported.