The JSE Securities Exchange South Africa (JSE) was in positive territory in noon trade on Friday, propelled by heavyweight dual-listed stocks, which were up offshore.
However, as has been the case in recent days, volumes were light, with no real conviction behind the buying.
By 11.57am, the all-share index was up 0,63%. The all-share industrial index was 0,31% stronger. Resources rallied 0,87%, with the gold mining index gaining 0,91%. The platinum mining index was down 1,27%. Financials were 0,52% firmer, while the banks index was 0,32% in the black.
The rand was trading at R6,87 to the dollar, little changed from when the JSE closed on Thursday, while gold was quoted at $383,95 an ounce from $382,58/oz at the JSE’s last close.
“It is pretty unexciting. The market is trying to go better, but there is not much volume,” a dealer said.
He said that the market was being led up by dual-listed stocks, which were just following their foreign counterparts.
“Some of them were also oversold earlier in the week,” he added.
London-listed diversified resources group Anglo American added 1,28% or R1,65 to R130,15 and BHP Billiton was 1,82% or 85 cents firmer at R47,60.
Swiss-listed luxury goods group Richemont jumped 1,09% or 15 cents to R13,90 and London-listed beverages group SABMiller was 48 cents stronger at R54,50.
On the financial front, London-listed Old Mutual was 1,73% or 19 cents firmer at R11,17.
All these shares were up on foreign markets.
Other strong advancers included gold miner Harmony, which was 1,24% or R1,20 higher at R98.
Cellular network operator MTN Group surged 1,23% or 25 cents to R20,50 and retailer Woolies rang up 3,34% or 21 cents to R6,50.
Banking group FirstRand was up seven cents at R7,47, while Investec Plc jumped 2,65% or R2,50 to R97.
On the downside, Impala Platinum tumbled 1,54% or R9 to R574 and AngloPlat was off R2,50 at R255.
Mining house Kumba slipped 1,72% or 15 cents to R34,30.
Pulp and paper producer Sappi shed 51 cents to R88,99 and media group Naspers lost 1,3% or 38 cents to R28,75. — I-Net Bridge