The JSE was in positive territory in noon trade on Thursday with higher precious metals prices boosting gold and platinum stocks. The bourse was nevertheless off its record high of 16 770,561 reached in early trade.
By 12.06pm, the all share index was up 0,22% at 16 674,7. The gold and platinum mining indices jumped 3,31% and 2,13% respectively, but the resources
index eased 0,17%. The industrial and financial indices were both 0,47% firmer,
while the banks index was 0,96% in the black.
The rand was bid at 6,37 per dollar from 6,42 when the JSE closed on Wednesday, while gold was quoted at $471,35 a troy ounce from $464/oz at the JSE’s last close.
“Basically, the JSE is stronger on the gold and platinum prices. Their rally started yesterday [Tuesday] on the back of a softer dollar,” a dealer said.
He added that demand for retailers had also been seen.
On the JSE’s upside, gold miner Harmony surged 4,67% or R3,08 to R69,10, Gold Fields leaped 3,73% or R3,30 to R91,75 and AngloGold Ashanti advanced 1,98% or R5,30 to R273.
Platinum was quoted at $923,50/oz from an overnight close of $910/oz.
Impala perked up 2,14% or R15 to R717 and AngloPlat added 1,82% or R6,50 to R363,50. It earlier traded at R369 — its strongest since January last year.
Cellular network operator MTN Group rose 2,84% or R1,40 to R50,70 and Telkom climbed R1,14 to R126.
Media group Naspers soared 3,79% or R3,76 to R103,01.
Furniture group Steinhoff strengthened 3,16% or 60 cents to R19,60.
Retailer Foschini was up 1,86% or 85 cents at R46,50 and Truworths rallied 1,73% or 34 cents to R20.
Banking group FirstRand was 1,09% or 18 cents firmer at R16,75 and Absa was up 1,08% or one rand at R93,70. Standard Bank strengthened 50 cents to R69,35 and Nedbank was 80 cents in the black at R91.
On the JSE’s downside, London-listed resources group Anglo American lost 1,63% or R3,12 to R188,63, although it earlier traded at a best level since April 2002 of R194,90. BHP Billiton was off 85 cents at R101,75 despite reaching a highest ever R104,25 during the morning.
Both Anglo and Billiton had turned negative in London after reaching record highs there.
Petrochemicals group Sasol slipped 50 cents to R243. Swiss-listed luxury goods group Richemont was 1,02% or 26 cents weaker at R25,25 and London-listed brewer SABMiller eased 60 cents to R123,15.
London-listed financial services group Old Mutual was five cents in the red at R15,50. – I-Net Bridge